How to Get a Mortgage in Costa Rica: Options for Foreign Buyers

For a long time, foreign buyers believed that purchasing property in Costa Rica meant paying in cash. Today, that’s no longer the case. The lending landscape has transformed, and international buyers now have access to modern, U.S.-style financing solutions that make buying a home, condo, or investment property in Costa Rica easier than ever. There are the same financing options available for Canadians.

Whether you're building a rental portfolio, searching for a luxury villa, or relocating full-time, financing can help you preserve capital, increase buying power, and step into your dream lifestyle sooner rather than later.

Here’s a clear, updated breakdown of how mortgages work for foreigners in Costa Rica — and why so many buyers are choosing to leverage these new lending options.

1. You Can Get a Mortgage in Costa Rica as a Foreigner — And the Options Are Better Than Ever

Foreigners have multiple financing pathways:

• U.S.-based lenders serving Costa Rica

• private lenders

• seller financing

• developer financing

• limited local-bank financing (mostly for residents)

What’s exciting today is that U.S.-based lenders now offer mortgage products that resemble the same structure, clarity, and predictability you’d expect back home.

2. U.S.-Based Lenders: The Most Popular & Powerful Option

This is the leading choice for most foreign buyers, and for good reason. These lenders operate legally in Costa Rica while providing funding and servicing directly from the United States, ensuring familiar communication, compliance, and underwriting.

Key Benefits for Buyers (This Is Where the Program Stands Out):

✔ Expanded Buying Power

Finance up to 75% of the property value, allowing buyers to preserve cash for investments, renovations, business ventures, or simply enjoying the Costa Rica lifestyle.

✔ 30-Year Amortizations

Longer amortization means lower monthly payments and more affordable ownership — especially attractive for second-home and investment buyers.

✔ No Life Insurance Requirement

Unlike local banks, these loans do not require expensive, tied-in life insurance policies, which saves buyers thousands over the life of the loan.

✔ No Prepayment Penalties

Pay down your mortgage early, sell the home, or refinance without penalty — total flexibility.

✔ U.S.-Based Servicing

Your loan is funded and serviced from the United States, ensuring:

• clear communication

• familiar banking practices

• straightforward customer support

• strong regulatory compliance

This is a huge advantage for international buyers who want predictable service.

✔ Fast Closings

Standard turnaround is around 45 days, meaning buyers can move from approval to ownership quickly and smoothly.

✔ Flexible Loan Structures

Buyers can choose:

• 30-year fixed rates

• 5/6 adjustable-rate mortgages (ARM)

• 7/6 ARMs

These products come with rate protections and competitive limits, giving buyers multiple pathways to long-term affordability.

Typical Terms:

• 25%–30% down payment

• 8%–12% interest, depending on the product

• 20–30 year amortization

• 5–7 year rate resets on ARM products

This is the closest you can get to traditional U.S.-style home financing while buying abroad.

3. Local Costa Rican Banks: Possible, But Not Ideal for Foreigners

Local banks do offer mortgages, but they typically require:

• Costa Rican residency

• local income verification

• heavy documentation

• tied life insurance

• higher down payments

  
  

Because of these constraints, most foreign buyers choose U.S.-based lenders instead.

4. Private Lenders: Fast and Flexible

Private lenders are useful when:

• you need quick funding

• you plan to refinance later

• you’re buying land or pre-construction

• you want creative loan structures

  
  

Typical terms:

• 40%–50% down

• 10%–15% interest

• 1–5 year terms

These are best for short-term strategies or bridge financing.

5. Developer Financing: A Great Option for Pre-Construction

Some developers offer internal financing, especially for:

• condos

• resort communities

• pre-construction phases

  
  

Usually structured as:

• 20%–40% down during construction

• installment payments over 12–36 months

• a balloon payment at completion

This is not long-term financing, but it helps spread costs during the build.

6. Seller Financing: Common & Negotiable

In Costa Rica, sellers often offer financing, especially in luxury markets.

Typical terms:

• 30%–50% down

• 6%–10% interest

• 1–5 year loan period

This is a flexible and collaborative option when both parties want to move quickly.

7. What Buyers Need to Apply (Simple & Familiar)

U.S.-style lenders require:

• passport

• tax returns (2 years)

• bank statements

• income documentation

• credit report

• purchase agreement

• corporate documents if applicable

The process is clean, organized, and highly familiar to U.S. and Canadian buyers.

8. What Properties Qualify?

Most financed purchases include:

• condos

• luxury villas

• single-family homes

• income-producing rentals

• ocean-view residences

Land purchases may require extra documentation or larger down payments.

9. How Financing Supports Investment Strategy

Mortgage options like these help buyers:

• preserve capital

• improve cash flow

• leverage strong rental income

• increase ROI on short-term rentals

• buy larger or higher-quality properties

• diversify across multiple investments

In a market as strong as Guanacaste, leverage often increases long-term returns.

10. How I Support Buyers Through the Financing Process

I help buyers:

• identify properties that qualify

• connect with vetted lenders

• navigate underwriting

• coordinate with attorneys and escrow

• structure offers aligned with financing timelines

• analyze rental income to offset mortgage costs

My goal is to make the entire process smooth, clear, and stress-free — especially for buyers abroad.

Final Thoughts: Financing Opens the Door to Bigger Possibilities in Costa Rica

You don’t need to be an all-cash buyer to own property in Costa Rica anymore. With expanded mortgage options, competitive loan structures, 30-year amortizations, and U.S.-based servicing, foreign buyers now have more flexibility than ever before.

Whether you're buying a vacation home, a luxury villa, or an income-producing property, the right financing strategy can make your dream both achievable and financially smart.

If you'd like lender introductions, pre-approval support, or help finding properties that qualify for the best financing programs, I’m here to walk you through every step.