Estimated Reading Time: 3 minutes There are hundreds of articles online about financing property in Costa Rica. Most articles are outdated, and few have the correct information. That’s why you should do your own homework by calling around if you’re looking for a mortgage to purchase property in Costa Rica. Financing property is very easy…
Quite often, we receive requests for buying a hotel with no money down. This is usually a small or boutique hotel or a B & B in one of the beach areas of Costa Rica. That’s because we have a very nice inventory of Costa Rica hotels for sale. Others are asking if they can…
Loan to value ratio or LTV is a ratio that reflects the relationship between how much you borrow and the appraised value of your property. For example, Joan wants to purchase a home for $100,000. She plans to make a down payment of 10 percent ($10,000) and finance the rest. This means her loan is…
Most homeowners in Costa Rica don’t even think about fire and earthquake insurance and if they still have to pay the mortgage after their house was destroyed. You own(ed) a house in Costa Rica. This house was destroyed by a natural disaster or fire and you are paying a mortgage. What should you do? Can…
Visitors on our website often ask if they can get a VA loan to buy property in Costa Rica. U.S. veterans seem to be attracted to living in Costa Rica quite often. Costa Rica is another country and doesn’t belong to the United States. It doesn’t belong to the US territories either. The VA doesn’t allow veteran…
Are you trying to sell a 40 year old home in Costa Rica? Then you’re in trouble. Selling a 40 year old home in Costa Rica is an almost impossible task. Unless you’re willing to give it away at the cost of the land deducting the cost of demolishing the house. You will find very…
It’s amazing how many emails we receive from future expats who ask about financing a business purchase or a startup. Lots of people who would love to move to Costa Rica but don’t have enough money to start or buy a business to make a living. A great option for those who don’t have enough…
Did you know that the mortgage rate in Costa Rica is outrageous? I pay 9.5% interest rate on my mortgage in U.S. dollars! Politicians have been debating, due to the elections 2018, about economic solutions for the last few months. Because the government needs money. Don’t we all? Now that Carlos Alvarado of PAC was…
I had the opportunity to a mortgage refinance on different properties in Costa Rica in December last year. So I’d end up with a mortgage on just my house. That way, I’d have the other properties free and clear. With the mortgage refinance I would pay no mortgage administration fees and make a much lower…
You need to have a hard look at the mortgage conditions each bank will give you if you plan to buy a Costa Rica property with a mortgage from a Costa Rican bank. Getting a mortgage in Costa Rica is very different from many other countries because we don’t have any mortgage brokers in Costa…