Find a Private Lender in Costa Rica

Finding a private lender in Costa Rica starts with understanding what private property-backed financing is designed to do and what a lender needs to see before considering a request.

Private lending can be useful when a traditional bank loan is not practical for the borrower, the property, or the timing involved. It is not automatic financing. A private lender still needs to understand the property, realistic value, title, requested amount, use of funds, payment plan, and principal repayment plan.

GAP Equity Loans reviews qualified property-backed loan requests starting at US$50,000. GAP reviews borrowers of any nationality, does not require or pull a credit score, and uses first-lien security only. GAP coordinates qualified requests with private lenders and may participate directly in selected opportunities.

Submitting information does not create an approval, funding commitment, rate, term, or closing date. Each request needs individual review.

What Is a Private Lender?

A private lender is an individual, company, family office, fund, or other capital source that may lend money outside a traditional bank mortgage program.

In Costa Rica, private property-backed financing is commonly secured by real estate. The lender’s main concern is whether the property is suitable security and whether the complete request makes practical sense.

That is different from simply asking, “Can this borrower make the payment?” The lender will also look closely at the property’s location, realistic value, marketability, title, access, condition, existing debt, and legal position.

Private loans are normally shorter-term financing. GAP commonly reviews terms from six months to three years. Many private loans use interest-only payments during the agreed term, with the principal balance due at maturity. The final structure depends on the lender and signed documents.

Start With the Property, Not Just the Loan Amount

When looking for a private lender, start by gathering clear information about the property being offered as security.

A completed and well-maintained home in a marketable location is often easier to review than remote land, a property with difficult access, unfinished construction, or a project with unanswered legal or infrastructure questions.

A lender may review:

• Location and buyer demand in that area
• Road access, driveway, drainage, water, and electricity
• Lot size, usable area, construction quality, and property condition
• Current ownership, title, survey, and registered issues
• Comparable properties and realistic resale value
• Existing mortgages, liens, annotations, taxes, or legal claims
• Whether the lender could reasonably sell the property if necessary

A property does not need to be perfect. However, a beautiful property can still be difficult collateral if the title is unclear, access is weak, the location has limited buyer demand, or the requested amount is too high for realistic value.

Private Lenders Look at Realistic Value

Private lenders usually compare the requested amount with the property’s realistic current value. This is called loan-to-value, or LTV.

For example, a US$200,000 loan request against a property realistically valued at US$500,000 equals 40% LTV.

US$200,000 ÷ US$500,000 = 40% LTV

For stronger completed homes in marketable locations, requests around 30% to 40% of realistic value can often be easier to structure. Some stronger files may support a higher amount, sometimes approaching 50%, depending on the property and lender requirements.

The value used for lending is not automatically the owner’s purchase price, listing price, construction cost, or hoped-for future sale price. A lender may consider comparable sales, property condition, local supply, access, selling costs, and the likely time needed to sell.

Read what loan-to-value means in Costa Rica.

First-Lien Position Matters

GAP uses first-lien security only. This means the ownership and legal position of the property need to be clear before a request can move toward closing.

If there is an existing mortgage, private loan, lien, annotation, unpaid tax balance, or another registered issue, disclose it early. Existing debt does not always prevent a request from being reviewed, but the balance, payoff requirements, and legal structure need to be understood.

In some cases, existing debt may need to be paid through the appropriate closing process so the new lender can register in first position.

Most smaller GAP loan requests are secured by a registered first-position mortgage on the Costa Rica property. Some lenders may prefer a trust structure. The closing attorney or notary handles the legal documents, registration, and closing work.

Foreign Borrowers Can Be Reviewed

GAP reviews qualified requests from borrowers of any nationality. A borrower does not need Costa Rica residency or a Costa Rica credit score to submit a request.

GAP does not require or pull a credit score. That does not mean the request is reviewed without care. The lender still needs a clear property file and a practical explanation of how payments and principal repayment will be handled.

If a Costa Rica corporation owns the property, the lender may need current corporate records, signing authority, and confirmation that the corporation can legally enter into the loan and security documents.

The Property Is Security, Not the Repayment Plan

A private lender needs to understand how agreed payments will be made during the loan term and how the principal balance will be repaid at maturity.

The property provides security for the loan. It should not be the only repayment plan.

A practical repayment plan may involve:

• The sale of the property
• The sale of another asset
• Established rental income
• Business income or expected liquidity
• A realistic refinance plan
• Another documented source of funds

A future sale or refinance can be part of the plan, but neither should be assumed. A property may take longer to sell than expected, and a future lender may require different documents or a lower loan-to-value amount.

A loan renewal is not automatic. The existing lender may decide not to renew, and another lender may decide not to replace the loan at maturity.

Read why the repayment plan matters for a private loan.

What Information Helps a Private Lender Review a Request?

You do not need every document perfectly organized before the first conversation. Start with enough clear information for GAP to understand the property and the request.

• A Google Maps, Waze, or WhatsApp location pin
• Current photographs of the property, road access, driveway, and surrounding area
• A current Folio Real and Plano Catastro, if available
• The requested loan amount and exact use of funds
• An estimated realistic value, appraisal, purchase information, or comparable support
• Details of any existing mortgage, lien, annotation, tax balance, or legal concern
• Corporate records and signing authority if a corporation owns the property
• A clear payment plan during the loan term
• A practical principal repayment plan and backup exit

If the request involves construction, renovation, or development, additional information may be needed about permits, water, utilities, budget, contractor arrangements, remaining work, access, and timing.

Lawsen Tellier, Director of Operations, can help explain what is most important first and what can be gathered as the review develops.

What Can Make a Private Loan Request More Difficult?

• A requested amount that is too high for realistic value
• Value based mainly on an optimistic listing price or future sale expectation
• Remote property, difficult access, weak resale demand, or limited usable area
• Unclear title, ownership, corporate records, or signing authority
• Existing liens, annotations, unpaid taxes, or unresolved legal issues
• Missing water, permit, utility, construction, or access information
• An unclear use of funds
• No practical payment plan during the term
• No realistic plan to repay the principal balance at maturity

These points do not always mean a request cannot move forward. They may mean more information is needed, the amount needs to be lower, the structure needs to change, or an issue needs to be resolved before legal work and closing costs advance further.

How Long Does Private Financing Take?

Qualified property-backed loans can often close in about 2 weeks after GAP has a complete file and due diligence is finished. Timing depends on the property, title, lender review, legal work, banking, documents, and closing requirements for everyone involved.

Clear property information, early disclosure of existing debt, and a practical payment and repayment plan can help avoid delays.

Start With a Clear Property File

If you are looking for a private lender in Costa Rica, start with the location, realistic value, requested amount, ownership details, existing debt, use of funds, payment plan, and principal repayment plan.

Loan requests start at US$50,000. GAP reviews qualified requests from borrowers of any nationality, does not require or pull a credit score, and uses first-lien security only.

Start your loan request here. You can also contact GAP through WhatsApp at +506 4001 6413.

Frequently Asked Questions

How do I find a private lender in Costa Rica?

Start by preparing clear information about the property, requested amount, use of funds, realistic value, ownership, existing debt, payment plan, and principal repayment plan. GAP reviews qualified property-backed requests and can identify what information matters most first.

Do private lenders require a Costa Rica credit score?

No. GAP does not require or pull a credit score. The lender still needs to review the complete property-backed request and understand the payment and repayment plan.

Can a foreigner get a private property-backed loan in Costa Rica?

Possibly. GAP reviews qualified requests from borrowers of any nationality. The property, realistic value, title, requested amount, payment plan, repayment plan, lender requirements, and legal structure all need to make sense together.

Can I borrow if there is already a mortgage on the property?

Possibly, but GAP uses first-lien security only. The existing balance, payoff requirements, and closing structure need to be clear. Existing debt may need to be paid through closing before a new lender can register in first position.

How quickly can a private property-backed loan close?

Qualified property-backed loans can often close in about 2 weeks after GAP has a complete file and due diligence is finished. No closing date is guaranteed.

This article is for general information only. It is not a loan offer, legal advice, financial advice, tax advice, real estate advice, or a promise of financing. Loan availability, loan amounts, rates, terms, costs, and closing timing depend on the individual property, borrower file, lender requirements, due diligence, and signed documents.

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