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Anyone been to the home expo ? There is a great deal for financing for anyone ready to buy now. A 7 year fixed rate @ 7.25% , 25 yrs up to 80% only for new home purchase or construction. I have all the details written down after speaking with several lenders there , if anyone is interested . Some other lenders too.
I am going later today ‘Charlie’, were these mortgages for legal residents or non-residents and which banks?
Scott Oliver – Founder
WeLoveCostaRica.comResidents and non-residents . Cuscatlan, Scotia Bank, Lafise, Mutual Alajuela , Improsa , Banco Nacional, . You will not have time unless you spend many hours there talking to them to find all the details on the lending parameters. I have spent many trips to banks and now this event to get the scoop on mortgages . Many details which are different with every lender, to consider.
I have written about this ‘Charlie’ however, may we so bold as to inquire as to which bank you felt offered you the best deal and why?
Scott Oliver – Founder
WeLoveCostaRica.comDo the mortgages include raw land too? Would appreciate any contact info since we are returning for our 4th time in 2 weeks.
My best deal may not be another’s best. for example , Scotia Bank will offer a longer fixed period, but there is a 3 months interest prepayment penalty during the fixed period to get out . Improsa may not extend the fixed period as long, maybe 3 years , but no prepayment penalty. So someone looking to buy and sell may not want to pay the penalty, someone looking to hold will take the prepay at a nicr rate.
Land for the most part is 65% with several lenders. I actually found one that does 90% on residential or land , but the documentation may be trickier to get. The fixed period is only a year, then variable. the contact couldnt tell me though what the margin or index was once it turns variable, but i am still researching that one.
My email is charliequesada@gmail.com , I’ll send you my cell number there , rather than post it on this site openly
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