skip to Main Content
  • English
  • Español
info@gapequityloans.com
Need A Line Of Credit In Costa Rica

Need a Line of Credit in Costa Rica?

Fixed Credit Line

If you need a line of credit in Costa Rica, Gap Equity Loans can provide you with an asset-backed, fixed, secured one. What does that mean, exactly? We offer a set amount of cash based on our valuation of a fixed asset, usually real estate. Unlike a traditional mortgage, where you make a blended payment of both principal and interest payment, we only have a monthly interest payment for the duration of the loan. The principal is paid off at the end of the loan rather than during the loan.

Reduce your monthly payments

This will reduce your monthly payments dramatically compared to a traditional mortgage with payment of both principal and interest. Understand that this is a short-term solution to get a loan fast, and not a 30-year option as in traditional mortgages. For example, let’s say you are selling your home. You want your home to fetch the highest sale price possible, which may take some time in this market. Also, you may want to invest some funds into sprucing up the house to help it sell at the desired price. What if you wish to buy a new house while your present one is on the market? Get a Gap Equity Loan on your present home and use it as a down payment on your new house while applying for a standard home mortgage with a bank. This ensures that you get into your new house as quickly as possible!

You Have Options

Our line of credit option can help you renovate your current home. Many people choose to invest in a swimming pool or major renovations. Lenders are very open to this. They are willing to consider lower interest rates, because the funds are invested back into the property. That increases the value of the asset being held as collateral. There are many reasons to get a line of credit or short-term loan. So choose wisely what you plan to do with the funds when you receive them. Most importantly, you should have a clear idea on how you plan on paying off the loan in a few short years.

Don’t Wait

Time flies and you don’t want to wait until the last minute to ask for an extension or a renewal at the very end of the loan term. Paying down your loan by at least 10% is highly recommended. Remember, lenders are not required to renew or extend your loan. If you are a responsible borrower and pay all payments on time, there is a very good chance we can restructure your loan for you, or get a new lender in for a new term. Gap Equity Loans is here to help tailor your borrowing needs, including a proper exit strategy.

ARE YOU IN NEED OF AN EQUITY LOAN? CONTACT US TODAY!

 

By the way, did you know that if you spend $200,000 or more on a home in Costa Rica, you may be eligible for Costa Rica residency?   CLICK HERE FOR MORE INFORMATION

Back To Top
×Close search
Search