“Housing Alternatives” Loan in Colones
Investment Plan:
- Lot Purchase.
- House Purchase (house, joint-ownership or apartment). No quantity limitations.
- Restoration or house extension.
- Mortgage cancellation.
- Recovery of investment in house restoration, extension, house construction, lot or house purchase with own resources and no older than 12 months.
“Housing Alternatives” Loan in Colones- Main Features:
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Currency |
Colones |
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% Máximum financing |
Up to 85% |
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Minimum financing amount: |
Equal to $1.000 |
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Máximum financing amount: |
Upon payment capacity and guarantee |
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Guarantee. |
Mortgage / Open Mortgage |
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Loan Term: |
Up to 30 years for all usages |
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Commissions: |
Formalization: 2% on credit amount |
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Interest Rate: |
Fixed fee 2 years Fixed fee 10 years (Conditions of Expoconstruccion 2011) Variable rate Variable Rate at Intervals (*) Floor rate = 8% (*) it shall be a rate equal to IR or 8% rate, which is higher. |
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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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Policies: |
Life and fire insurance. |
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Additional benefits: |
For those Public Service Sector officers whose salary is deposited in BCR account. |
Other conditions:
· Owner of checking and savings account.
· Affilaited 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 now in any of the 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.