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.

"In Expoconstrucción, which begins next Sunday at Pedregal (San Antonio de Belén), banks will try to hook new customers with fixed rate programs, remission of fees and payment terms of up to 30 years" informed Nacion.com, “Nine financial institutions will be present at the fair ...".

More on this topic

Costa Rica: Credit for Housing Up 10%

May 2016

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.

An article on Elfinancierocr.com reports that "... Housing credit has been growing at safe rate since the start of 2016 and this market is expected to remain this way for the rest of the year ...

Court Suspends Increase in Loan Fees

November 2012

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.

In Costa Rica, interest rate growth has led to significant increases in the fees paid by borrowers to banks and finance companies.

Panama: Mortgage Lending up 11%

October 2012

The extension to $120,000 of the cap for purchasing housing at preferential rates will cause growth in mortgage lending.

Up to last July, the balance of the mortgages with the Preferential Act increased by $45.6 million, up from $2.558 million to $2.603 million.

According to an article in Capital.com.pa, Peter Detresno, company president of Pedros Real Estate, said that "the impact of increasing the range of prime interest was obvious and the proof was the last Capac Expo Habitat 2012 fair, where about 80% of sales or inquiries were made about housing projects in that range. "

Credit for Homes in Costa Rica Decreases

January 2012

The four state-owned banks intend to lend $682 million in housing in 2012, 20% less than last year.

Publicly owned banks (National, Costa Rica, Bancrédito and Popular) have set a goal of granting ¢351,000 million ($682 million) in housing loans during the course of 2012, reported Nacion.com.

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