Welfare Housing Loan
Bonus Loan Program
Investment Plan:
- Lot purchase and house construction
- House purchase.
- House construction on own lot.
Welfare housing loan main features
Bonus Loan Program:
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Currency |
Colon |
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Minimum financing amount: |
Equal to $1.000.00 |
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Maximum financing amount: |
Maximum amount of the housing solution in accordance with Banhvi |
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Term: |
Up to 30 years |
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Waranty: |
Mortgage / Open Mortgage |
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Interest Rate: |
1st y 2nd year 10% fixed As of 3rd year TBP + 1% Floor Rate = Formalization rate |
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Commissions: |
Formalization commission 1%. |
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Floor Rate: |
Formalization Rate |
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Max. financing percentage: |
Up to 95% |
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Maximum debt level: |
Up to $2500 35% +10 +10 Between $2501-$5000 40% +10 +10 More than $5000 45% +10 +10 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: |
1. FIRE INSURANCE Coverage: -Different Risks 2. LIFE INSURANCE Coverage: Note: These insurances can be purchased to the brokers and insurance companies authorized by SUGEFE. (Meeting underwriting requirements of credit). |
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Appraised payment: |
According to loan amount. |
Other conditions:
· A least 1 automatic charge with the BCR.
· Program applicant must be pre-qualified before program start. .
· The house cost plus the lot value as stated on the appraisal report and the regulatory margins should not exceed regulations established by the Banhvi.
· Being part of a household, i.e. a group of people under the authority of a chief or head of family living under the same roof and sharing the household duties. There must be at least one adult person.
· Not owning a house or other property. In the case the family owns a lot, the family can use the bond to build the house.
· Not have previously received another bond, as it is given only once.
· Household income should be less than or equal to 4 minimum wages of unskilled construction sector worker that are adjusted every six month.
· Costa Rican or permanent resident, free of condition..
Request your Loan now in any 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 at ServiciosBancaElectronica@bancobcr.com.