Despite what others will tell you all over the internet… financing IS possible via a bank here in Costa Rica for foreigners & non-residents.

Dreaming of owning a slice of paradise in Costa Rica? For many foreigners and non-residents, the allure of this tropical haven is irresistible. But purchasing property in a foreign land can seem daunting, especially when it comes to financing. Enter Lafise Bank, a trusted financial institution in Costa Rica, offering up to 70% financing on properties for those who are not residents of the country.

Lafise Bank understands the unique needs of international buyers and has tailored its services to cater to this market segment. With their financing options, they aim to make the dream of owning property in Costa Rica a reality for expatriates and visitors alike.

Lafise Bank understands the unique needs of international buyers and has tailored its services to cater to this market segment. With their financing options, they aim to make the dream of owning property in Costa Rica a reality for expatriates and visitors alike.

One of the key features of Lafise Bank’s financing is their commitment to transparency and fairness. They employ their own appraisers to determine the value of the property, ensuring an accurate assessment. However, it’s crucial to note that if the appraised value is lower than the sales price, the buyer will be responsible for covering the difference. This means that the financing will be based on the appraised value, up to 70%, rather than the sales price.

To provide further clarity, let’s delve into Lafise Bank’s 2024 terms and conditions for property financing:

1. Documentation: Prospective buyers must provide necessary documentation, including identification, proof of income, and any other relevant financial information.
2. Proof of Property: The property in question must meet Lafise Bank’s eligibility criteria, and proof of ownership or intent to purchase is required.
3. Appraisal Process: Lafise Bank conducts an independent appraisal of the property to determine its value. This appraisal is crucial in determining the amount of financing that will be provided.
4. Financing Limit: The bank offers financing of up to 70% of the appraised value of the property, subject to approval.
5. Responsibility for Shortfall: In cases where the appraised value is lower than the sales price, the buyer is responsible for covering the difference between the two amounts.

Lafise Bank’s financing options provide a lifeline for those seeking to invest in Costa Rica’s real estate market.

***BE AWARE OF THESE OTHER TYPES OF FINANCING SOURCES – DON’T MAKE THIS MISTAKE!**

However, it’s essential to be aware of other financing sources that may promise lower interest rates or faster processing times. These sources often come with a HUGE, hidden price tag… I have experienced this firsthand and when comparing the options between Lafise and other options available, it was a no-brainer.

For example… I took out a HELOC on my home that I built in Costa Rica, the financing I was offered via an alternative source:

– Offered a 1% lower interest rate (which at first seemed attractive)

– Immediately wanted me to pay for the $1,500 appraiser fee – whereas the fee with Lafise was only $500 and I did not pay until much further into the process

– Tacked on $16,000 USD of FEES… I had to look really closely to understand what the charges were even for. Whereas the bank closing fee was monumentally lower.

– Turns out they use the EXACT same bank… Lafise to secure the loan. So why all the sudden would I be paying $16,000 USD extra in my case to secure a loan that I have been able to easily do myself???

Again, this is just my personal experience that I am sharing with you and you can look into options and evaluate them yourselves.

Check out their rates below:

Download Lafise 2024 Terms & Conditions Here

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