Source: InsideCostaRica.com
The Banco de Costa Rica (BCR) is getting aggressive in attracting new mortgage customer and is now lending up to 100% of the value.
The program allows home buyers with no down payment, but have the ability to make the payments, to now make that important purchase in their life.
The BCR will lend on mortgages in dollars or in colones for terms of up to 25 and 30 years, respectively.
Interest rates can be on a fixed term or variable.
The loans are open to all Costa Ricans and foreigners alike who are current with their immigration status (legal residency) and have been working for the same employer for more than a year or can show sufficient income to service the debt.