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How do I get a loan in Costa Rica?

Are you searching for a financial solution and looking for a home equity loan in Costa Rica? Maybe you have gone to a few banks to inquire about their interest rates and compare the best options. You’ve probably already come across problems trying to work with their terms by now.

Below are the 5 most common issues when dealing with conventional Costa Rican banks:

  1. Policies against foreigners.

Banks in Costa Rica achieve stability because they are incredibly hesitant to lend money. Unlike the United States, which has had loose lending policies, banks have rarely collapsed in CR. This is because banks in this country only lend under near-perfect circumstances to permanent residents or citizens.

  1. Complicated, lengthy paperwork.

Nothing is straightforward as they lack the efficiency you are familiar with within the United States, Canada, and other countries.

  1. High and hidden fees.

Fees are usually higher than expected; they are often much more than a standard loan in North America. The closing charges are generally higher as well.

  1. Long response time.

It can take months to receive a response, which would most likely be negative, a waste of your time, especially when you are in a pinch or need to react promptly to a new opportunity.

  1. Rigid terms.

The banking system loans are done by the book with no exceptions to the rules and are subject to change at their will.


As you can notice dealing with banks is a difficult and stressful situation to put yourself in. But we have a solution for you!

Gap Equity Loans is the answer if you need help in getting your mortgage-based equity loan fast and efficiently!  Since 2008 they have assisted many satisfied clients to achieve their financing requests quickly. The company works with you hand in hand to ensure you have all available options.

Below are 5 benefits that come from choosing Gap Equity Loans:

  1. Anyone can apply.

Gap Equity Loans can assist anyone looking for a loan up to 40% LTV (loan-to-value) of their property regardless of whether you’re a foreigner, resident, or citizen.

  1. Easy, straightforward process.

First, there needs to be a loan request submission, 10 photos, the survey (Plano Catastro) number, and a Google Maps location(s). After viewing the property, the specialist gives the appraisal and then presents it to the lending network. After completing the preliminary due diligence and valuation, Gap Equity Loans gets the lawyers to draw the mortgage papers and coordinate the closing.

  1. Competitive rates.

Depending on the quality of the loan and the amount sought after, on average, loans are offered to range from 12% to 16% interest rates. They are known to be fair to both the borrower and the lender.

  1. Fast response time.

Gap Equity Loans prides itself on responding promptly to any inquiries or questions received. In most cases, a loan can be closed and funded in 7 to 10 business days by our private lenders!

  1. Flexible terms.

Gap Equity Loans has access to private investors and lenders that conventional banks do not. As a result, they can provide lower rates, lower closing fees, and more financing options than traditional banks. Home equity loans can be offered in a lump sum, with fixed monthly payments, easy-to-follow payment schedules, and fixed interest rates for the loan’s duration.


Contact us today  to achieve your financing goals fast, efficiently, and hassle-free!



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