Financing Real Estate in Costa Rica

We pride ourselves on the creative financing we have helped put together particularly for our developer clients. However financing in Costa Rica is not as easy as in the States, Canada, or Europe and any prospective buyer needing financing must be ready for this.

Although a number of the major banks including Banco Nacional, Banco de Costa Rica, HSBC, Scotiabank, Citibank, all offer no resident financing the terms are high, closing costs related to the loan high, and points are payable to all banks on any loan.

Current market interest rate in Dollars is about 10% variable (August 2009) with a 25 year term max. Deposit required will be at least 10% and banks appraisals are very tough. Mountains of paperwork for loan approval in Costa Rica.

WE RECOMED STRONLGY YOU OBTAIN FINANCING IN YOUR HOME COUNTRY AND BECOME A CASH BUYER HERE.- you will get a better price and have a lot less hassle.

Some developers will offer take back terms but usually for short terms. Pre sales work the same as back home with a 10% deposit holding a unit and payments being made as construction progresses, each developer has different schemes so ask us if this interests you.

We can try arrange owner  take back financing for you but terms are usually short no more than a couple of years and title will transfer to you until the loan is paid off on owner take backs.

With Bank mortgage loans here you get title just like back home with a Mortgage lien.

Various title companies now operate here including Stewart Title and Chicago First if you require this comfort level.