(X-posted in Living in Costa Rica)
I'm thinking about buying a small house in Costa Rica soon and trying to determine how much I would be able to afford there. Does anyone here have experience using Costa Rican lenders for buying property there? Are the terms/rates about the same as here, or would it be better to get a loan from a US bank?
I'm thinking about buying a small house in Costa Rica soon and trying to determine how much I would be able to afford there. Does anyone here have experience using Costa Rican lenders for buying property there? Are the terms/rates about the same as here, or would it be better to get a loan from a US bank?
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Re: CR banks for real estate loans?
Mon, April 3, 2006 - 9:44 AMGenerally there are no loans to non-residents in Costa Rica, especially from banks. -
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Re: CR banks for real estate loans?
Mon, April 3, 2006 - 10:53 AMHmmm...I keep getting conflicting information. Several people (even *in* Costa Rica) have told me that it's fairly easy to get a loan of up to 70% of a property's value from a Costa Rican lender, even if you are a non-resident. Roy, I know you have lived in CR for many, many years - are there any reliable, up to date references online you could point me to for non-residents buying CR property? -
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Re: CR banks for real estate loans?
Sat, May 20, 2006 - 5:03 PMSorry for the slow reply. For sure there are loans for non-residents. The best offer I've had (Scotiabank) was for 70% of the value at about 7.5% interest over 20 years. (Might have been 25 years, I can't remember.) Hope that helps.
Scott
www.crazyjungle.com
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