Home Equity Loans in Costa Rica

If you own property in Costa Rica, you already hold the money you need. A home equity loan lets you borrow against the value of that property without selling it. GAP Equity Loans arranges these loans privately, so the decision rests on your property, not on your credit history.

How much can you borrow?

Loans start at US$50,000, and there is no published maximum. The amount depends on your property’s value: financing goes up to 50% of it, and lower is better. A request at 30% of value is treated more favourably than one at the 50% limit.

On a property worth US$500,000, that means US$150,000 is 30%, US$200,000 is 40%, and US$250,000 is the 50% maximum. For requests over US$1 million, additional property and file documents may be requested.

No credit score, no income verification

Banks want a credit file, employment records and income proof, which is difficult for expats, retirees and foreign owners. GAP does not request a credit score at all. Your property secures the loan, and the lender receives first-lien position on the title. Any existing lien must be paid off before closing or as part of the financing at closing.

“We don’t require a credit score for our standard loans, but a simpler process doesn’t mean skipping the work. We still need to understand the property and review the documents. We’ve closed many loans in less than ten business days. When one takes longer, it’s usually because a document is missing or something needs more checking, so having your paperwork ready makes a real difference.”

Glenn Tellier, founder of GAP

Terms and timing

Loans run from six months to three years, with interest-only payments. A qualified file can close within 10 business days, while bank financing commonly takes many months. The timeline depends on how complete your file and property documentation are.

What is reviewed instead of credit

Supporting information may include title information, lien details, planos, tax records and proof of income, depending on the individual property and file. Exactly what is requested varies with the property type, its location and the size of the request.

Who this suits

Foreign owners who have no Costa Rican credit history can move forward based on their real estate. Expats and retirees who no longer keep an active credit file at home can access their equity without rebuilding a credit profile. Costa Rican owners whose credit record does not match bank requirements can also apply. The structure works for houses, condos, commercial property and land.

What owners use the money for

Common reasons include buying a second property, finishing construction, funding a business, consolidating more expensive debt, or bridging a gap while another property is being sold. The use of funds is your decision; the loan is secured by the property.

Frequently asked questions

Does GAP Equity Loans check my credit score?
No. No credit score is requested. The evaluation is based on the qualifying Costa Rica property and supporting file information.

What is the minimum request amount?
Requests start at US$50,000 and up. There is no published maximum request amount.

How long does it take to close a qualified file?
Qualified files can close within 10 business days.

What terms are available?
Terms are six months to three years, with interest-only payments.

What happens if my 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.

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.

This article is for general information only and is not financial, legal, or tax advice. Every arrangement depends on property review, documentation, and lender approval.

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