Financing Opportunities in Costa Rica

Greetings from Skip Licht. . .

Because of the very strong real estate market here in Costa Rica, banks and other lending institutions are constantly changing their available programs, terms, interest rates, and qualifications. In addition, competition is fierce and we are being contacted and offered better and more competitive loan programs every week. For us to attempt to keep you totally informed of every single detail and change every minute of every day would be impossible to do....a total information overload. However, if you have a deep interest in every detail of every loan program that we offer, you can contact me via telephone and I will be happy to summarize all of the past week's changes for you. It is my desire only to allow you to keep your mind clear and focused on the sales and promotion of your real estate offerings.

We have a simpler solution...

After your client has seen their new property, we do not want you to bog them down with facts, figures, rates, terms, and other mathematics...allow them to savor their moment. Let them visualize their new life in Costa Rica that you are providing for them! They are happy that they have found you!

When they contact me, I will simply gather the information that I need regarding their situation, explain to them in detail the programs that will fit into their particular scenario, and begin their loan application process.

You will be kept totally informed of every correspondence that I have with your clients. I will be in constant communication, making you aware of their progress, step by step!

For your review...

There are two main types of programs available in Costa Rica at this time. . .

1.) Cross-collateralization Mortgages: Your clients are able to use their U.S. property as collateral for their loan. The property will only be tied up for 12 months, providing they make timely payments during this initial period. At that time, their property in the U.S. will be released of any liens regarding their purchase here.
80% to 95% financing is available. It is a 30-year, fixed rate product. For those of you who's development is located inside the Maritime Zone and is concession land, the mortgage will run for the length of the concession time period only. 8.5% to 9.5% interest rate, fixed. The borrower needs to have a 680 or higher FICO score. Minimum loan amount is $150,000. Stated income is OK.

2.) Adjustable Rate Mortgages: 8% to 10% interest rate, 10 to 20 year programs. All loans are full-doc. Title insurance is NOT required. Mortgage insurance may or may not be required, depending on the funder. Minimum loan amount is $100,000. 65% to 70% LTV.

We also suggest to you that you could save a lot of time and effort by having your client pre-qualify themselves prior to their visiting you. They will appreciate that you are thinking ahead on their behalf! Simply give them our name and contact information listed below, and we will take it from there. When you meet them for the first time at your sales office, you will both be informed totally of their price range. No effort wasted on showing property for which they do not qualify! Only 5 to 10 business days to pre-qualify!

Points and closing costs will be fully disclosed to the client after pre-qualification. These amounts vary on the amount of the loan, and with whom the loan is placed...

In summary...

1.) Many loan programs are available from many different lending institutions. The best deal always for your client. Varied options, flexible terms, lowest market rates.
2.) You and your sales associates will be kept informed at all times. Every correspondence between Costa Rica Mortgage and your client will be copied and sent to you as well.
3.) Totally transparent dealings.
4.) Turnkey for you and your sales associates from start to finish.
5.) Direct phone numbers from the USA, Canada, and Costa Rica for your clients' convenience.
6.) Immediate reply to every question, e-mail, and phone call.

We are in this for the long haul, and look forward to building a strong relationship with you from this point forward...

Sincerely,

Skip Licht, Senior Loan Consultant

If you are ready to apply for a loan right now, please fill the following form.

Borrower Information

* = required information
First Name:	*
Middle Initial:
Last Name:	*
(Include Jr. or Sr if applicable)
Email Address:	*
Please re-enter Email Address:	*
How did you hear about us?
Is there a Co-Borrower?	Yes No *
Do You Currently Own Real Estate	Yes No *
How Many Properties do you Own?
Social Security Number:	- -
Evening Phone:	*
Date of Birth	/ / mm/dd/yyyy
Years In School
Marital Status:	*
Number of Dependents:	(not listed by Co-Borrower)

Mortgage and Loan Information

Mortgage Applied for:	*
Loan Amount:	$ * If unsure - enter estimated amount
Interest Rate:	% * If unsure - enter estimated rate
Loan Term in Months:	(ex. 30 years = 360) *
Amortization Type:	*
Present Address
Street:	*
City:	*
State:	*
ZIP Code:	*
Do You:	Rent Own *
How Long at Address:	years months *
Mailing Address if different from present address
Street:
City:
State:
ZIP Code:
Country:
Do You:	Rent Own
How Long at Address:	years months
Complete the following if at present address less than two years:
Former Address 1
Street:
City:
State:
ZIP Code:
Did You:	Rent Own
How Long at Address:	years months
Former Address 2
Street:
City:
State:
ZIP Code:
Did You:	Rent Own
How Long at Address:	years months

Financing Opportunities in Costa Rica

LOCATION MAP