Costa Rica Mortgage Program

The mortgage program has been particularly successful due the high rate of return and good security.

Currently mortgages are in US dollars and investors earn an annual rate of 14% interest. We advertise to find qualified borrowers, take applications, run credit and legal checks on the property, study certified financial statements to prove income and ability to pay, and then if all is well have the property appraised by a professional appraiser.

If everything checks out, we will lend up to 50% of our appraiser’s valuation of the property.  Our client is never secured by less than 200% of the amount of the investment. The mortgage is registered in the Central Registry of Cos ta Rica against the specific property in the name of our client’s company.

We ensure payments are made on time, and follow up if they are not. The payment is deposited or invested as instructed by our client. The mortgages have a term of one year, so an investor can withdraw the money in one year provided we receive notice two months before the renewal date of the mortgage. We require that investor funds be in our hands before a mortgage is approved to ensure that the mortgage will be funded as soon as all condition are met. Funds awaiting final approval for a mortgage earn interest at 3% per annum.

If an investor has an emergency and requires funds that are in a mortgage, he can borrow against the mortgage at 18% interest, or a mortgage in good s ta nding can be sold early to another investor for a 2% fee.

Click here for the complete procedure for granting a mortgage.
 

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