Costa Rica Mortgage for Foreigners & Expats

Looking for a expat home loan for a property in Costa Rica?  We have partnered with a local bank that makes this possible.  If you are interested in mortgage on Costa Rica property for purchase of a home, let’s chat!

The terms below are as of June 2024 and are subject to change at any time.  The info below is provided as a starting point and it is important to note that mortgage terms can vary from the terms shown below depending on conditions and individual circumstances.

Loan Term

Up to 20 Years, fully amortized

Available to

US, Canadian & Costa Rican Residents

Loan-to-Value

75% (25% down)

Interest rate year 1 & 2

7.5%-8% (fixed)

Interest rate year 3 & 4

8%-8.5% (fixed)

Interest rate variable year 5 to 20

TRI Rate* + 4.50% (floor is 8.5%)

Pre-payment penalty

3% for early payment before year 5

Life insurance

Varies, paid monthly, must be CR insurance policy

Loan initiation fee

1.5%-2.5% of final loan amount

Property appraisal

Price varies, but around $500-$1000

Documentation Salaried Employee

2 mos paystubs, 3 mos bank statements, 3 years tax returns, 2 credit reports from home country

Documentation Self Employed

6 mos corporate & personal bank statements, 3 years tax returns and 2 credit reports from home country

 

TRI rate is a variable rate of the 12 month CD published here https://www.camaradebancos.fi.cr/dolares/

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