Buying property in Costa Rica is a dream for many expats, but traditional bank loans often make the process challenging. Most local banks require legal residency, extensive paperwork, and a long-established credit history within the country. Even when financing is available, it usually comes with high down payments, short loan terms, and variable interest rates that can change over time, making long-term planning difficult.
Fortunately, there’s a more flexible solution designed specifically for foreign buyers, a true fixed-rate mortgage program that simplifies the process and offers predictable payments from start to finish.
This financing option provides a competitive fixed interest rate starting at 8.75%, and that rate never changes. Unlike local bank loans that may reset or adjust, this fixed rate remains stable for the entire term of the loan, giving expats the peace of mind that their monthly payment will stay consistent year after year.
Buyers also enjoy no prepayment penalties, meaning you have the freedom to pay off your loan early or make additional payments without extra fees. Plus, with a 24-hour pre-approval process, you can move forward quickly and confidently when you find the right property.
The program typically offers terms up to 30 years, providing manageable monthly payments and long-term stability. Loan amounts can range from around $200,000 to $2,000,000, depending on the property value and buyer profile. Refinancing options are also available, whether you want to free up equity from a cash purchase or move from seller financing into a long-term fixed-rate structure.
With a straightforward application process and terms tailored for nonresidents, this financing alternative has made it possible for many expats to invest in their dream home in Costa Rica without the limitations of local bank loans.
If you’re exploring property ownership in Costa Rica and want to learn more about this competitive fixed-rate financing, contact us today , we’ll be happy to share details and guide you through the process!
