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Loan Application Costa Rica 2023

The first step in obtaining an equity loan is filling out the loan application form that we provide online. This is how to fill out a loan application in Costa Rica for 2023:


The Borrower

Knowing who the borrower is and how the loan will be repaid (serviced) is so important. This information helps us determine the amount of debt the borrower can service. Many people ask: “Well, it is secured by an asset; why should they care?”

The reason is simple, we do not want to see you lose your property in foreclosure, nor do the lenders we work with. Taking people’s homes is not what Gap Equity Loans is about and is not what the private lenders we work with want.


The Collateral

These are asset-based loans via first-place mortgages; therefore, understanding all collateral aspects is essential. We know that people come to us often with less-than-perfect track records.

That is ok in the sense that we need to determine what the issues are. It is better to volunteer them than for us to find out on our own. We always see everything through our due diligence process, such as if the property has tax issues, if the current loan has been paid on time or if there are existing loans.

If needed, we can address many of these issues and help resolve these problems faster when we know the underlying problems beforehand.


What to avoid

In the past, we have seen incomplete application forms with few to no pictures. We meet the borrower and begin to ask questions about the ability of the borrower to service the loan that has been requested. It does not take long to analyze the situation and whether the capacity is there to service the loan payments.

Once we determine that the borrower can make the payments, we do a site inspection for the security of our lenders. If things have been neglected, such as the pool being green because the pump is not working or if the house is run down, it all affects the LTV (loan to value), which is how we determine if the loan is worthwhile. Another tattletale sign is if the property was purchased a few years ago for X and magically has tripled in value over the last few years… Well, all these things start making this loan very uninteresting to the private lenders we work with.

We at Gap Equity Loans understand that many loans come to us out of need, and people are apprehensive about telling us the whole story, but better to be upfront to see how we can help you get to the solution the quickest possible way. We have a variety of different options available to do this.

There is always the assumption or hope that the borrower will present the property honestly and clearly. However, our extreme due diligence always peels back the layers, and we quickly get to the reality of the situation!

The mission at hand is always that we are here to help provide funds to the borrower through our private lenders, and the lender-borrower relationship is fair to both parties!

-Written by Glenn Tellier (Founder of Grupo Gap)



*Loan Request Form

    Your Information

    How Did You Hear About Us?


    Referral Name:

    Your Name:

    Your Email Address:

    Your Phone (if possible, include both home and mobile numbers)

    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)


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