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Borrow Against Your Property to Buy Another in Costa Rica

September 28, 2026
Property-Backed Loans, Refinancing & Bridge Loans

You have found the right property: a lot next door, a rental in a good area, a home closer to family. The seller wants to close soon, and your money is tied up in a property you already own. One practical solution is to borrow against the property you have to buy the one you want. Here is how that works with GAP Equity Loans.

Your equity can become your purchase money

Equity is the part of your property you own outright: its value minus anything you still owe on it. If you own a home or land in Costa Rica with little or no debt, that equity can secure a short-term loan. You use the loan to buy the new property, then repay it when your longer-term plan comes together.

With GAP you can borrow up to 50% of your property’s value, with around 30% or less preferred. For example, a property valued at US$400,000 could support a loan of up to US$200,000. The valuation GAP uses, with lender input, is what counts. Try our loan-to-value calculator for a rough idea.

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Why speed matters when you are buying

In a property purchase, timing can decide whether you get the deal. Banks can take many months, if not longer, to close. GAP closes loans within 10 business days once the required documents are complete. That can let you make a firm offer and close on the seller’s schedule instead of hoping the bank finishes in time.

How it works, step by step

Tell us about both properties. Send the details of the property you own and the one you want to buy.
We review the property you own. GAP looks at the title, the valuation and your plan to repay.
You get clear terms. Amount, term, rate and fees, before you commit.
Documents and closing. Once the required documents are complete, GAP closes within 10 business days. The loan fees are deducted at closing, so there is nothing to pay up front.
You buy. The funds go toward your purchase.

Plan your exit from day one

GAP loans are short term, from six months to three years, with interest-only monthly payments and the principal due at the end. Before you borrow, know how you will repay. Plans can include:

selling one of the two properties once the purchase is done;
renting out the new property and refinancing later;
money arriving from a sale or account abroad;
business or rental income built up over the term.

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Things to know

The property you borrow against must be titled and registered in the National Registry. Beach concession property does not qualify.
If that property already has a mortgage, it is paid off at or before closing so the new loan is in first position.
Land can qualify, on stricter terms than a finished home.
You do not need Costa Rican residency, and no credit score is required.
Early repayment carries a penalty, explained during loan review.

If you are buying and selling at the same time, also read our guide to bridge loans for home buyers.

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Frequently asked questions

Can I borrow against the property I am buying instead?

GAP also finances purchases secured by the property being bought. Borrowing against a property you already own can be simpler when you want to act quickly.