There are two options for financing in Costa Rica, private hard money loans and loans through banks and finance companies.
Banks will only provide financing to Costa Rica citizens or legal residents and sometimes only those persons that have a source of income from within Costa Rica. This limits your options for obtaining the funds you need to purchase your Costa Rica property. But remember, you may obtain your Costa Rica residency with any real estate purchase of $200,000 or more!
Sellers will occasionally finance 50%-70% of the purchase, and usually at rates lower than private money lenders.
Private money lenders are the easiest, but most expensive, source of funding for your real estate purchase in Costa Rica. They will not loan more than 50% of the property’s value at annual interest rates from 11 to 18%, with interest only payments over a period of 1 to 3 years. Here at RealMax Real Estate, we can help with obtaining funding, whether it be with a bank, the seller or a private money lender.