What does developer financing on land consist of?
Turtle Cove provides land loans with a 20% deposit with low monthly payments and low interest rates — full payment due in two years. However local banks will loan to 70% of appraised value on 20 year loan at about 8.5%. I have set up a special program for discounts and rates through the local bank Banco Nacional de Costa Rica. Land is 30% down with 15 year finance of 70% loan to value. Home and lot are 75 to 80% financing, for 20 years.
