Financing Real Estate in Costa Rica

Casa Bruno has financing available for you.  We can arrange low-cost US-based loans for US citizens.

Collateral: by leveraging U.S. real estate equity, this program provides affordable permanent mortgage loans when local bank financing would otherwise be unaffordable or unavailable.

Loans under US$ 1,000,000: For loans less than US$1,000,000 it is required an equal amount to the amount being borrowed to be collateralized for 12 months by placing a lien on US real estate. It is possible lien multiple properties with multiple borrowers if needed. Note that additional appraisal costs will be charged for each additional property being liened.

Loans over US$1,000,000: this is decided upon a case by case basis.
Source of Money: an American private investor is funding the loans through Lenders Choice LLC, an American Corporation. All US and international regulations on capital flows and transactions are enforced.

Purchase money: resale, new builds

Pre-Construction: (pays developers required phases) which rolls into a permanent loan
Construction to Permanent: either build on existing owned land or purchase the land, construct and roll into a permanent loan or purchase a property needing to be remodeled, remodel/construct then rolls into a permanent loan

Commercial Type Properties: purchase & construction of units, apartments, mixed-use, condotels, B&Bs, hotels, beach clubs, casinos all possible. For deals below $5,000,000 send the regular three-page application form. Projects and ongoing project developments must complete an additional Project Questionnaire.

Developer Take Out/Refinancing of Developer's Note: payoff an existing loan from a developer as long as the property has not changed title to owner's name, must still be in developer's name. Cash out is not possible with this scenario.

Loan amounts: US$150,000 to US$5, 000,000+ 20- to 30-year amortization

Interest rates: 7.5% to 9% with adjustable and fixed products, depending upon creditworthiness: 30 year fixed is the most popular as it is not offered by our competitors in most markets 

Closing commissions: as low as those in the US and well below those in the region.
80% Loan To Value (LTV); in some cases Combined Loan To Value (CLTV) 95% may be possible
Full-document loans: "stated income" loans possible;
Currency: loans are in U.S. dollars and serviced by US mortgage servicers.
Also we will be pleased to introduce you to local banks that offer financing options to individuals – Costa Rican, residents and non residents and US citizens – who want finance for their Real Estate purchases.

So you find the perfect home.  Now what?  You must decide to either pay cash for your dream or to finance it.  The problem is that there almost no banks in the USA or Canada that will give you a mortgage on Costa Rica property.

We at Casa Bruno have the solution.  Just read this page for some great ideas!

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