Real Estate & Property, San Jose, Costa Rica
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.
Purchase money: resale, new builds
Pre-Construction: (pays developers
required phases) which 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.
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.
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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