At Gap Equity Loans, our lenders generally do not lend on raw land without significant…
In Costa Rica, non-residents have limited financing options compared to permanent residents or citizens and typically find it extremely difficult (if not impossible) to obtain mortgage loans from local banks.
So, what financing option is available in Costa Rica if you’re not a permanent resident?
Getting a private equity loan is probably your best option, and that’s where Grupo GAP comes in.
We specialize in brokering collateral-based home equity loans.
While banks and other traditional lending institutions are spending time putting up roadblocks, we offer a fast, simple and effective alternative.
As an example:
If you want to buy a home for $400,000, you would put down 60% ($240,000) and a Grupo GAP private lender would lend you 40% ($160,000).
The benefits of using Grupo GAP are:
- We lend up to 40% of the property value.
- A Fixed interest rate for the life of the loan.
- Funds in a lump sum.
- Fixed monthly payments (interest only).
- Interest rates comparable to Costa Rican banks for non-residents.
- Closing costs comparable to Costa Rican banks.
- We can usually fund a loan within one to two weeks.
- An easy to follow payment schedule.
- A simple loan application form.
To get started, click here to fill our our quick loan application or click the link below:
By the way, did you know if you buy a home in Costa Rica for $200,000 or more, you may qualify for Costa Rica residency? CLICK HERE FOR MORE INFORMATION