Costa Rica Mortgage Advisors maintains and overview of lenders offering financing to foreign (non-resident) investors in Costa Rica. Local bank financing generally offers the most favorable loan terms, but with more conservative application requirements. Private lenders and US-based sources may make it easier to qualify, but interest rates and initial points are generally higher.

All terms must be confirmed at application, but current averages among local bank lenders are as follows:

• Currency Options – Some only US Dollars, others also Costa Rican Colones
• Loan Amount - $1000 to $400,000, some higher to max of applicant qualification
• Loan to Value – 50%-90% depending upon loan amount, qualifications
• Loan Term – 15-30 years
• Rate – Market/Confirm
• Other Expenses – Varying points, fees
• Other Requirements – Some require life and property insurance, limit lending to North Americans
• Special Options – Depends on lender
  
  

  Costa Rica Mortgage Advisors recommends particular loan programs and the specific, current terms for recommended lenders in each of the following categories follows below:

This is a traditional mortgage being applied to a completed, existing property with clear title.

• Currency Options – US Dollars
• Loan Amount – To payment qualifications of borrower
• Loan to Value – 75% of appraisal
• Loan Term – 20 years, no pre-payment penalty
• Rate –Contact for Current Quote
• Other Expenses – Inquire
• Other Requirements – Life and property insurance, North Americans only
• Special Options – May be assumable by new buyer depending upon qualification under lender requirements at the time of the proposed assumption
  
  
  

  Click HERE to Contact Us to Discuss Your FINANCING NEEDS

This is a traditional mortgage approach to the purchase of a property that is not yet constructed or is in the process of being constructed. The lender will step into the borrowers purchase contract payment schedule and begin funding progress requests AFTER the borrower invests their share of the equity. (The difference between the purchase price and the approved loan amount)

• Currency Options – US Dollars
• Loan Amount – To payment qualifications of borrower
• Loan to Value – 75% of appraisal
• Loan Term – 20 years, no pre-payment penalty
• Rate –Contct for Rate Quote
• Other Expenses – Inquire
• Other Requirements – Life and property insurance, North Americans only, In the case of condominiums the developer must have completed the legal registration of the project and have all common area documentation and Association By-Laws ready for review by the lender
• Special Options – May be transferable with the purchase contract to a new buyer depending upon qualification under lender requirements at the time of the proposed transfer
• Notice – Changes in the conditions or terms of the purchase contract between developer and buyer/borrower, before final delivery and closing, must be approved by the lender. In the event of cancellation of the purchase contract, the lender will require full repayment of loan proceeds and the borrower will forfeit all loan fees paid previously.
  
  

  Click HERE to Contact Us to Discuss Your FINANCING NEEDS

These terms apply to any land or lot purchase, or first loan on a property that is already owned by the borrower.

• Currency Options – US Dollars
• Loan Amount – To payment qualifications of borrower
• Loan to Value – 65% of appraisal
• Loan Term – 10 years, no pre-payment penalty
• Rate - Conyact for rate Quote
• Other Expenses – Inquire
• Other Requirements – Life insurance, North Americans only
• Special Options – May be assumable by new buyer depending upon qualification under lender requirements at the time of the proposed assumption
  
  

  Click HERE to Contact Us to Discuss Your FINANCING NEEDS

This is a traditional mortgage being applied as a new, first mortgage on an existing property with clear title already owned by the borrower.

• Currency Options – US Dollars
• Loan Amount – To payment qualifications of borrower
• Loan to Value – 75% of appraisal
• Loan Term – 20 years, no pre-payment penalty
• Rate – Contact for Rate Quote
• Other Expenses – Inquire
• Other Requirements – Life and property insurance, North Americans only
• Special Options – May be assumable by new buyer depending upon qualification under lender requirements at the time of the proposed assumption