Can local financing be obtained for non-Costa Ricans or non-residents?
Yes, it can be obtained and we can assist you in obtaining it. Local financing for up to 30 years can be obtained through many commercial banks, including BAC San José, HSBC, Cuscatlán and Scotiabank for qualified non-residents. Stewart Title can also assist both Americans and Canadians in obtaining their financing. Interest rates currently start at 9% flat for the first 5 years, and then afterwards banks will index their rates either to Prime or Libor plus a given percentage. Usually, local banks will finance 70-80% of the total cost of the house, and the rest has to be paid by the buyer during the construction process.
