US Lender Finally Offering Mortgages in Costa Rica

International lenders have been in various stages of planning and executing initiatives to enter the Costa Rica for quite some time.

Many lenders had plans to launch their programs by last Christmas, however, experienced major setbacks and strategy shifts as a result of the “mortgage meltdown”. Not all of these lenders, however, abandoned their plans and multiple new market entrants are finally offering residential mortgages to foreigners.

These US lenders currently do not offer financing for land acquisition or home construction. However, for those borrowers seeking to finance/refinance a finished home, these new programs offer several distinct advantages when compared to alternatives offered by Costa Rican banks.

The advantages of working with one of these US lenders for a mortgage in Costa Rica include:

  1. Stated Income Loans: There is finally a “Stated Income” mortgage product in Costa Rica. Just as with “Stated Income” programs in the US, tax returns or W-2’s are not required. Borrower eligibility is primarily determined through job type, credit score and verifiable assets.
  2. 30 Year Amortization: Rates associated with these US lender programs are slightly higher than Costa Rican bank rates, however, loan terms are 30 years. Mortgages offered by local banks generally come with either 20 or 25 year terms. The increase in term from 20 to 30 years will result in a lower monthly payment, despite a marginal rate difference.
  3. “Two Comma” Loans: Though most Costa Rican banks will fund home loans in excess of $1MM+, their historical underwriting orientation involves a far more stringent approval process for “large” residential loans. For example, some of the leading local banks require overseas approval from their corporate parent, prior to granting a loan greater than $1MM. US lenders now active in the market have strategically targeted larger loans. Home loans up to $4MM are evaluated by these new US utilizing the same underwriting guidelines and approval process as $200K loans.
  4. Time to Close: The underwriting approval process utilized by US lenders is far more automated and streamlined than that of local banks, where foreign borrowers are. Once a complete file is submitted, closing should typically occur within 2-3 weeks.
  5. No Age Limit: In contrast with the majority of programs offered by local banks, these programs have no maximum age restrictions. Though exceptions exist, Costa Rica lenders typically do not offer financing to individuals greater than 64 years of age. As the “baby boomer” retiree market segment steadily expands, many senior retirees will be turning to banks outside of Costa Rica for their loans.
  6. No Life Insurance: As with the above mentioned age restrictions historically associated with Costa Rica financing, US lenders do not require borrowers to mitigate the fatality risk associated with second home lending to foreigners through life insurance. Though local lenders are moving towards eliminating this requirement, for the time being, this represents a significant cost savings (hassle as well) to borrowers who lack life insurance coverage.

Our Costa Rica Mortgage company is proud to have been recognized by these US lenders as the leading source for residential financing in Costa Rica and entrusted as a first firm to offer their programs in Costa Rica. We are pleased to be able to offer these programs to our clients.

For those borrowers who neither qualify for these programs, nor find them relevant to their financing needs, we work closely with all of the leading Costa Rica lenders to routinely provide disproportionate value to our clients.

If you would like more information about mortgages in Costa Rica, please help us to help you by using the simple form below. Please note that since many Internet service providers in the USA and Canada block international emails from Costa Rica and other foreign countries, we will require your telephone number so that they can call you and confirm that you have received their material.

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18 thoughts on “US Lender Finally Offering Mortgages in Costa Rica

  • MitchellJuly 11, 2017 at 12:30 am

    I filled out the above requested information, however an error happened and did not proceed.

    • luis torioJuly 11, 2017 at 10:31 pm

      Hi, Wich property are you interested in?

      • Emily PalmerJuly 25, 2017 at 6:06 pm

        I am interested in financing. Can you call me at(760) 822-7063 or email me at [email protected]

  • Annalisa TorrenteJuly 28, 2017 at 1:19 am

    Hello Luis,

    The same happened to me, I filled out the form and the 404 error showed and the form did not go through.

    I’m interested in purchasing a condo in Playa Flamingo, in the $200K to $300 price range. Please let me know if you are still offering mortgate service and how I can find a mortgage to purchase the condo in CR, my email is below, look forward to hearing back from you!

    Many thanks and kind regards,

    • luis torioAugust 1, 2017 at 4:01 pm

      Hello Annalisa,thank you for your message. Sorry for the inconvenience.
      We just sent it to one of our recommended realtor Becky Clower.

      She will be in contact with you shortly.


  • Todd LaughrenAugust 3, 2017 at 10:23 am

    The 404 error happened when I filled out the app. Call me at 904-594-3891. My name is Todd.

  • Todd LaughrenAugust 3, 2017 at 10:25 am

    Call me at 904-504-3891

  • Mark WamplerAugust 23, 2017 at 2:20 pm

    cannot submit the form. The email address provided is undeliverable, and there is not any other contact info on this site. Are you still providing mortgages?

  • Edward BlairAugust 29, 2017 at 5:54 pm

    I am looking to purchase a house near Playa Hermosa south of Jaco. My wife and I have been going to Costa Rica 3-4 times a year for several years and have decided to purchase a house. Is it possible to pre-qualify for a loan and then go search for a house?

  • RichSeptember 2, 2017 at 2:06 am

    Please contact me to discuss financing a hotel I’m purchasing.

  • CostaRica purchaserSeptember 12, 2017 at 4:09 am

    interested in financing a 600k property with 250k down payment (borrow around 350-400k)

  • RossSeptember 19, 2017 at 8:01 pm

    How can I get information? The form doesn’t exist anymore to inquire.

  • Shane MunieSeptember 26, 2017 at 4:49 pm

    Would like more information on obtaining a mortgage for a second home in Costa Rica. My wife is a dual Costa Rican/US citizen, and we are both currently living and working in the US.

    Shane Munie

  • WILLIAM INGRAMOctober 5, 2017 at 8:06 pm


  • WILLIAM INGRAMOctober 5, 2017 at 8:08 pm


  • Costa Rica BoundOctober 10, 2017 at 9:13 pm

    I am interested in purchasing a vacation home in Nosara, Costa Rica. I would love to find out more about mortgage options. Thanks and I appreciate your time.

  • Hugh McDonaldNovember 2, 2017 at 10:07 pm

    Please let me know if you are providing mortgages. We ares seeking a lender to finance large quantity of home sales in Costa Rica

  • Audra FellowsNovember 20, 2017 at 9:08 pm

    Hi I am trying to find this lending company discussed in the article. There is no name of the company. What is the company?


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