Buying a Home in Costa Rica

If this is your first time buying a home or the first time buying a home in Costa Rica, then you've come to the correct page. Below you will find a few details about the purchasing process. 

If you are a foreigner, you will not likely be eligible for a mortgage without equity already in Costa Rica. You will need a credit history with a Costa Rican bank. So if you plan on applying for a mortgage, meet with a bank first and arrange a local credit card to get started. There are options for private loans, but typically they will be higher, around 13% - 18%. Feel free to ask us about those options if necessary. Owner financing is common in costa Rica and also a way to solidify lower mortgage rates. Good news! Foeriegner are eligible to own land in Costa Rica.

Mortgage Rates: approx. 7%

Typical Down Payment: 20%

Property Taxes: 0.25%

Closing Costs: 10% -12%

Escrow Fees: approx. $1000 (calculated into closing costs)

Legal Fees: 2% - 4% (calculated into closing costs)

Transfer Taxes: 1.5%

National Registry Stamp. 0.5%

Building Costs: $25 - $70 per sq. food

HOA Fees: approx. $150/month (based on gated communities in the San Jose area)

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