What Is Reviewed in Costa Rica Property Financing

A property-backed financing request is reviewed according to the qualifying Costa Rica real estate and the individual file. Understanding the review helps an applicant provide accurate information from the beginning.

What GAP Equity Loans reviews

Each property-backed financing request is considered according to the qualifying Costa Rica real estate and the individual file. No credit score is requested. Depending on the property and file, title information, lien details, planos, tax records, or proof of income may be requested.

The review focuses on the property and information needed to establish first-lien position, rather than a credit score or a generic checklist. The lender must receive first-lien position. If a property has an existing lien, it must be paid off before closing or as part of the financing at closing. In either case, the lender must receive first-lien position.

Request amounts and document preparation

Requests start at US$50,000. For requests over US$1 million, additional property and file documents may be requested. Accurate, current information helps keep the review organized.

Not every document is required for every file. What is requested depends on the property and the individual file.

Terms and timing

Terms are six months to three years. Qualified files can close in about 10 days. Timing depends on the property and file, so this is not a promise for every request.

Traditional banks can involve strict requirements and lengthy processes. GAP Equity Loans handles qualifying requests professionally through closing.

Keeping the file clear

Start with a concise description of the property and requested amount. Provide relevant title information, lien details, planos, tax records, or proof of income when they apply. Explain an existing lien early so first-lien position can be addressed.

A clear file supports a careful review and helps identify any additional documents needed.

Frequently Asked Questions

What is the minimum request amount?

Requests start at US$50,000.

Does GAP Equity Loans request a credit score?

No credit score is requested.

What information may be requested?

Depending on the property and file, title information, lien details, planos, tax records, or proof of income may be requested.

What happens if there is an existing lien?

It must be paid off before closing or as part of financing at closing, and the lender must receive first-lien position.

How quickly can a qualified file close?

Qualified files can close in about 10 days.

Ready to discuss a property-backed financing request in Costa Rica? Contact GAP Equity Loans at +506 4001 6413, USA/Canada 855-562-6427, or info@gap.cr.

Article by Glenn Tellier (Founder of CRIE and Grupo Gap)