Housing Alternative Loan with Guarantee Dollars
A new market solution for those who do not have the down payment but have payment capacity and enough guarantee.
It is a sole loan offer which provides the possibility that a customer may have 100% of required money to purchase a house.
Investment Plan:
Housing Alternatives:
· House, joint-ownership or apartment purchase,
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· House construction or mixture of both: lot and house.
· Payment of lot liabilities to be able to build (debt purchase solely if lot is guarantee with other creditor and 100% investment housing plan is for construction purposes.)
With house:
· Financing for investment plan difference
· Legal expenditures
· Commissions
· Appraisal
Housing Alternative Loan with Guarantee – Dollars Main Features:
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Currency: |
Dollars |
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Maximum Financing %: |
From 0 to $300,000 = 80% and from $300,000 to 700,000 = 70% |
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Guarantee and coverage |
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Loan Term: |
There are two loan facilities, terms as follows: · Housing Alternatives Dollars 25 years. · With House: 7 years. |
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Commissions: |
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Housing alternatives: 2% formalization · With House: 2% formalization. ** In-advance payment for loans higher than $10.000 effective for first five years. |
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Interest Rate: |
· Housing Alternatives Dollars: Effective for those housing alternatives to choose among three modes 1- Five years Fixed Rate (Conditions of Expoconstruccion 2011) 2- Variable Rate 3- Variable At Interval Rate · With House in $: Variable Rate |
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Floor Rate: |
Floor at formalization rate |
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Payment Way: |
Monthly installments, variable, successive, chargeable to due capital and interests. |
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Maximum debt level: |
10pp are added if salary earner and salary is deposited in BCR account. 10pp are added if 10 day in advance payment as per SUGEF during last twelve months. |
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Insurance and Policies: |
Applicable pursuant to loan administrative provisions. |
Other conditions:
- Owner of checking and savings account.
- Affiliated to Bancatel and Bancobcr.com.
- Loan payment through automatic charge
- At least two utilities paid through automatic charges.
Whenever construction and guarantee financing cover 100%, customer must submit:
· Maps, permits, budget to know construction work end and proof that customer is committed to project.
· Once work is done customer shall pay thirty six dollars ($36.00) for expert inspection. .
For Foreigners:
Permanent Resident – Free of condition
- Submission of residence card copy with name and signature of officer where certifies he reviewed original document.
- Upon amount and age, requirements are the same as for Costa Rican citizens (review chart of insurance capability requirements).
Temporary Residents– Passport- Refugees
- Must take all E tests:
Medical test, urinalysis, electrocardiogram, cardiovascular assessment, Elisa Test, fasting glucose test, SGPT and SGOT transaminase tests, gamma-glutamyl transpeptidase, total bilirrubin/direct and indirect, creatinine, ureic nitrogen, total cholesterol and high density cholesterol (HDL), triglycerides, confidential report, CPA certification which indicate income amount per year of previous immediate year, economic activity of other income if applicable.
Request your loan no in any of BCR Branches
Interest Rate Liability Disclaimer
Interest rates are object to change at any time without previous notice due to financial market changes. For such a reason, information included in current web site is for reference purposes only. Any rate related to a specific transaction or business, shall be the effective rate as of formalization date.
For further information regarding interest rates, please call Customer Service Department at (506) 2284-6600 or write to ServiciosBancaElectronica@bancobcr.com.