Property Financing in Costa Rica
We’re often asked about financing, as it’s an important factor for many buyers. Whether you’re a resident or non-resident, there are options that may be available depending on the property and your personal situation. Below is a general overview to help you get started, and we’re happy to provide more details or connect you with trusted local lenders if you'd like to explore further.
Seller Financing
Some property owners are open to offering financing. This is handled case by case and depends on both the buyer’s proposal and the seller’s preferences.
In general, seller financing terms often include:
• A down payment of around 50 percent
• Short-term financing of 1 to 3 years
• Interest rates usually between 6 and 9 percent, typically around 8 percent
We can always ask the seller if they are open to financing and share any terms you are looking for to see if it is something they would consider.
Bank and Institutional Loans
Several banks in Costa Rica offer financing to non-residents for second homes, vacation properties, or relocations. These loans are available for properties that meet certain conditions and for buyers who can provide supporting financial documentation.
Typical terms:
• Down payments of 35 to 50 percent
• Loan terms from 15 to 25 years, depending on the bank and applicant profile
• Interest rates usually starting around 8.5 percent
To qualify, most lenders will request:
• Passport and second ID
• Tax returns and income documentation
• Bank statements
• A credit report with a minimum score of around 700
• A Costa Rican property appraisal
• A life insurance policy issued or recognized in Costa Rica
Once an offer is accepted and due diligence begins, the appraisal process is usually coordinated by the bank, and buyers begin submitting all required documentation. As part of the bank’s due diligence, the property itself is reviewed to ensure it meets lending requirements, including title, land use, and construction conditions.
The full process from approval to loan closing typically takes 6 to 8 weeks.
Private Lending
In some situations, private lending may also be an option. These loans are typically easier to qualify for but come with higher interest rates and shorter terms.
What to expect:
• Interest rates in the range of 12 to 15 percent
• Short-term loans of 1 to 3 years
• Interest-only payments
• Collateral is required
These loans can be helpful for buyers needing a quick closing or those who may not qualify for traditional financing.
📄 Sample Financing Documents
Below are sample documents from a few lending institutions currently active in Costa Rica. These offer an overview of typical requirements and terms available to both residents and non-residents. If you're interested in any of these options, we can connect you directly with the institution for updated details or assistance with next steps.
- Scotiabank – Mortgage requirements for non-residents
- BCT – Second homes financing program, full terms, and client questionnaire
- LAFISE – Bank financing for residents and foreigners
- VoloLoans – Private financing program tailored to international buyers
- Second Street – Lending solutions focused on U.S. and Canadian buyers
We're Here to Help
We hope this overview gives you a helpful starting point. If you are exploring financing, we would be glad to:
• Share more information on bank or private lending options
• Connect you with local institutions and contacts
• Inquire with sellers on specific properties about financing possibilities
info@palmrealestatecr.com
WhatsApp: wa.me/50683529923