25 YEAR FINANCING AVAILABLE

Historically, buying Real Estate in Costa Rica has been a cash only transaction for foreigners. Either you have the cash, or obtain it by refinancing an asset back home. Trying to obtain a loan from a bank in Costa Rica was almost impossible.

That has changed dramatically with today's announcement; Banco Banex in Costa Rica in cooperation with Stewart Title Mortgage has forged a strong relationship to develop a new lending program specifically designed  for non-resident citizens.

The Los Altos Condominiums Project has been pre-approved for this program, thus making for an easy and fast approval process for potential buyers.

 
FINANCIAL CONDITIONS

Maximum Loan Term

Up to 25 Years

Payment / Income Relation

25%

Maximum Credit Ammount

Based on your Credit Report

Debt to Income Ratio

40 %

Annual Interest Rate based on N.Y. Prime Rate

Prime + 0.50%

Minimum Interest Rate

8.00 %
Review & Rate Adjustment
Quarterly
Loan to value maximum over appraisal
Up to 80%
Origination Fee (one time)
1.50 %
Credit Record Study (Stewart Title)
$280,00
Insurance (U.S.A. Policies accepted)
Life & Patrimonial
Stewart Title
0.75 % of Property Value
Pre-payment penalty
NONE
 

 

 

CONTACT US >