Increased Availability for Home Loans in Costa Rica
Despite contraction in the construction sector, banks and other lenders are increasing their offers.
Friday, March 18, 2011
The bank´s credit portfolio is the largest offered over the last three years as reported by the Costa Rican Banking Association.
While preparing a definitive ruling, a Costa Rica tribunal court ordered a mortgage lender to reduce the monthly fee paid by a debtor to its initial amount.
The extension to $120,000 of the cap for purchasing housing at preferential rates will cause growth in mortgage lending.
Competition, interbank interest rates and a stable exchange rate are the reasons for the growth of the housing loan portfolio in the first quarter of 2016.
The four state-owned banks intend to lend $682 million in housing in 2012, 20% less than last year.
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