March 2026 · 6 min read
One of the first questions any buyer asks is: how long will this take? The honest answer is: 30–90 days from first application to closing, with the wide variance explained almost entirely by document completeness and how many banks you approach simultaneously.
This article breaks down the process into its phases, gives you realistic timelines for each, and explains exactly where delays come from — and how to avoid them.
Fast
30–45 days
Typical
45–60 days
Slow
60–90+ days
The Approval Process: Phase by Phase
Phase 1 — Application and initial review
Once your complete application is submitted, the bank's intake team performs an initial review: completeness check, identity verification, and basic eligibility screening. This phase is fast when documents are complete. Incomplete applications stall here.
Phase 2 — Credit assessment
The bank pulls your Dominican credit report (TransUnion RD) and evaluates any foreign credit history you've provided. Your debt-to-income ratio is calculated. If you have a co-applicant, their profile is assessed in parallel.
Phase 3 — Property appraisal
The certified appraiser visits the property, produces the tasación report, and submits it to the bank. This phase runs in parallel with Phase 2 if you schedule the appraisal as soon as you start your application — many buyers wait, which adds 2+ weeks unnecessarily.
Phase 4 — Underwriting and decision
The bank's underwriting team reviews the complete file: your creditworthiness, the appraisal, the property title, and the purchase contract. This is where the bank makes its lending decision. For non-resident foreign applicants, some banks add an additional review layer, which can extend this phase.
Phase 5 — Commitment letter and legal
The bank issues a formal commitment letter. Your attorney reviews the terms, negotiates any conditions, and prepares the closing documents. Title transfer is registered with the Registro de Títulos.
Phase 6 — Closing and disbursement
The notarized closing documents are signed, the bank disburses funds to the seller, and title transfers to your name. If you are remote, your legal representative signs with poder notarial.
The Five Most Common Sources of Delay
Incomplete documents at submission
The single biggest cause of delay. An application missing even one document is paused until it is received. Gather everything before you submit.
Waiting for the property appraisal
Many buyers don't schedule the appraisal until after the bank asks for it. Schedule it on Day 1 — it can run in parallel with the credit review.
Title search issues
Properties with unclear titles, unpaid liens, or unregistered subdivisions require legal resolution before a bank will lend. This can add weeks. Have your attorney do a preliminary title search before you apply.
Applying to banks sequentially
Going to Bank A, waiting 30 days, getting declined, then going to Bank B is how some buyers spend 90+ days without an approval. Multi-bank simultaneous submission eliminates this.
Document translation and apostille
Foreign documents needing certified Spanish translation and apostille authentication add days. Request these as early as possible.
How to Cut 2–3 Weeks Off the Process
- ✓Submit to multiple banks simultaneously on Day 1.
- ✓Schedule the property appraisal the same week you start the application.
- ✓Request your employment letter and tax transcripts before you need them.
- ✓Have your attorney begin the title search in parallel with your financial preparation.
- ✓Use a platform (like HipoTech) that centralizes document collection and distribution — it eliminates duplicate submission work.
Frequently Asked Questions
Submit to all qualifying banks simultaneously
HipoTech distributes your application to multiple banks at once — the fastest possible start.
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