At Nativu we are always looking for tools to make the buying process easier for our clients. In Costa Rica there are many options for residents, but what are the financing options for foreigners in Costa Rica?

In this Nativu Talk article, we met with Second Street, an international mortgage lending company, to share clear and valuable information about their financing program for US citizens and permanent residents. Learn more about these financing options for foreigners in this new article.

Second Street is a company founded in 2023 by Zach, a former investor in a well-known U.S.-based mortgage lender, that offers mortgage loans to Americans who wish to purchase property in Costa Rica.

This is achieved through a transparent process and long term fixed rates, backed by New York Mortgage Trust, an institutional lender with strong financial capacity, ensuring they will always be able to fund approved loans.

For many years, obtaining financing as a foreigner in Costa Rica has been complicated. Banks often take months to process or deny applications from non-residents. U.S. banks, on the other hand, do not grant mortgages on real estate from outside the country. For example: Mortgage loans of up to 70% of the value of the property; fixed rates for 30 years; no prepayment penalties and a fast process, with average closing times of 45 days.

Programs like those offered by Second Street are available to

• U.S. citizens or permanent residents
• Individuals whose credit score (FICO) is at least 720
• Who have verifiable income (employed or self-employed)
• and who have the minimum loan amount of $200,000.

1. Buyer pre-approval: Evaluating income, assets and credit.
2. Finding the right property.
3. Property evaluation and appraisal.
4. Closing and disbursement, all within an estimated 45 days.

All this process is done remotely and digitally, providing a centralized and personalized attention.

This type of financing not only benefits buyers, but is also a great advantage for developers and real estate consultants who want to make a successful sale to foreign buyers. Thanks to this process, they can validate the real capacity of the clients, facilitate the closing of sales or agreements and strengthen offers to sellers. A useful tool for agents and developers

Getting help when buying real estate in Costa Rica as a foreigner has evolved; and with reliable alternatives like the service offered by Second Street, international buyers can feel confident about doing business in the country.

At Nativu, our properties are of high quality and offer unmissable investment opportunities; our real estate consultants are highly trained to attend to your needs in the process of finding a property in Costa Rica. Do not hesitate to count on us.