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How to Buy a Home in Costa Rica with a Private Lender

How to Secure a Home in Costa Rica with a Private Lender

Are you considering buying a home in Costa Rica? With its picturesque coastline, hospitable locals, and diverse landscapes, it’s no wonder that Costa Rica is a sought-after destination for expats. Fortunately, buying a home in this tropical paradise is a feasible option for expats, thanks to the existing expat networks. However, before you embark on this exciting adventure, gathering as much information as possible, engaging with specialists, and conducting due diligence are crucial. One option to consider is securing a private lender to finance your dream home.

Costa Rica Real Estate Market

The Costa Rica real estate market, has been growing steadily over the years, and it offers a variety of properties ranging from beachfront villas to mountain homes. The cost of real estate in Costa Rica is relatively affordable compared to other countries in the region, and the market is open to foreigners.


The first step in buying a home in Costa Rica is to do your research. You need to know what you want, what you can afford, and where you want to live. Start by researching the different regions in Costa Rica and the types of homes available in each area. Consider factors such as the cost of living, the climate, and the local amenities. You can also consult a local real estate agent for more information about the different areas.

Conducting Due Diligence

As with any real estate investment, it’s crucial to conduct due diligence before purchasing a home in Costa Rica. The good news is that ample information is available to help you get started. You can take advantage of the strong expat networks already in place, but engaging with professionals to guide you through the process is essential. I strongly recommend contacting a lawyer and an accountant to make informed decisions.

Dealing With Professionals

When acquiring land in Costa Rica, foreigners enjoy the same rights as residents, unlike in many other countries. Costa Rican banks are known to be cautious, and interest rates can be high, making it challenging for non-residents to secure a mortgage. However, some private lenders, such as the ones at GAP Equity Loans, specialize in secured home equity loans. A private equity loan from a reputable lender can be your best option.

GAP Can Help

GAP Equity Loans is dedicated to helping expats secure their dream homes in Costa Rica. They provide quick, easy, and effective alternatives to traditional bank loans. Private lenders usually lend up to 45% of the property value, and GAP can help you secure a private lender who can lend you up to 45% of the property value.

Benefits of Using GAP’s Help

There are several benefits of using GAP Equity Loans help to secure a private lender for your home purchase:

  1. Fixed Interest Rates: GAP lenders offer a fixed interest rate for the life of the loan, which means you won’t have to worry about fluctuating rates.
  2. Lump Sum Payment: You’ll receive the funds in a lump sum, which makes it easier to plan your finances.
  3. Fixed Monthly Payments: You’ll make fixed monthly payments, which are interest-only, making it easier to manage your cash flow.
  4. Comparable Interest Rates: The interest rates offered by private lenders are comparable to those of Costa Rican banks for non-residents.
  5. Comparable Closing Costs: The closing costs are comparable to those of Costa Rican banks.
  6. Quick Turnaround: Private lenders can usually fund a loan within 1-2 weeks, which means you won’t have to wait long to secure your dream home.
  7. Simple Application Process: The loan application process is simple and straightforward, and you’ll receive an easy-to-follow payment schedule.


Buying a home in Costa Rica can be a rewarding experience, but it’s essential to approach the process with caution and careful planning. By researching the market, determining your budget, choosing a trusted agent, viewing properties, conducting due diligence, and closing the sale, you can make an informed decision and find your dream home in paradise.

-Written by Glenn Tellier (Founder of Grupo Gap)



*Loan Request Form

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    Referral Name:

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    Loan Request

    Amount Requested:


    Use of Funds:

    Collateral Property Details

    Property Location: Please include Province, Town, and District

    Approx. Land Area: (pick square meters or square feet)

    Approx. Construction Area M2: (pick square meters or square feet)

    Property Value:


    Property Description: Please include the age and condition of the property

    What is/are your Land Survey (plano catastrado) or Lot number(s)? (optional)



    Frequently Asked Questions

    Is it legal for foreigners to buy property in Costa Rica?

    Yes, it is legal for foreigners to buy property in Costa Rica. However, there are some restrictions on owning property in certain areas.

    What are the property taxes in Costa Rica?

    The property taxes in Costa Rica are relatively low, typically around 0.25% of the property’s assessed value.

    Can I get a mortgage in Costa Rica?

    Yes, it is possible to get a mortgage in Costa Rica. However, the interest rates and requirements may be different from those in your home country.

    How long does it take to buy a home in Costa Rica?

    The time it takes to buy a home in Costa Rica can vary depending on various factors, such as the property type, location, and legal requirements. Typically, the process can take anywhere from a few weeks to several months.

    What are the closing costs when buying a home in Costa Rica?

    The closing costs when buying a home in Costa Rica can include legal fees, transfer taxes, registration fees, and other administrative costs. 

    Do I need to hire a lawyer when buying property in Costa Rica?

    While it is not required to hire a lawyer when buying property in Costa Rica, it is highly recommended. A lawyer can help you navigate the legal requirements and ensure that your transaction is legally sound.

    Can I rent out my property in Costa Rica?

    Yes, you can rent out your property in Costa Rica. However, you may need to obtain a business license and pay taxes on the rental income. It’s important to research the local laws and regulations regarding rental properties.




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