Private Loan Brokers in Costa Rica: Using One or Going Direct

Many borrowers first hear about private lending through someone in the middle: a real estate contact, an attorney’s referral or a person who calls themselves a broker. Private loan brokers in Costa Rica can save you time, but they can also add cost and confusion, and a few are not what they claim. This guide explains what a broker does, the warning signs to watch for, and how working directly with GAP Equity Loans compares.

What a private loan broker does

A broker connects a borrower who needs capital with a lender or lending company that might fund the loan. A good one helps you describe the request clearly, gathers documents and follows up. A broker does not lend the money and cannot approve a loan; the lender or lending company decides after reviewing the property, the amount and the repayment plan.

Warning signs with private loan brokers in Costa Rica

• Money up front. Someone asks you to pay an application, valuation or “processing” fee before closing. On GAP’s standard loans, borrowers have no costs to pay before closing.
• Guaranteed approval. No honest broker or lender can promise a loan before the property and documents are reviewed.
• No named lender. You cannot find out who is actually reviewing or funding the loan.
• Payments to a person. You are asked to send funds to someone’s personal account.
• Pressure. You are pushed to sign before you or your attorney have read the documents.

Questions to ask any broker

1. Who is the lender, and who decides whether the loan is approved?
2. What fees will I pay, how much, and when are they paid?
3. Will the lender hold a first lien, and what loan-to-value is being proposed?
4. What is the term, the payment schedule and the early repayment penalty?
5. Can my own attorney review the documents before I sign?

Working directly with GAP

You do not need a broker to request a loan from GAP. You can send a loan request yourself, and GAP reviews the property, the amount and your plan to repay. GAP determines the property value used for loan-to-value, with input and acceptance from the lender, and arranges the loan through closing.

• No credit score is required, borrowers of any nationality can apply, and Costa Rican residency is not required.
• Loans start at US$50,000, with terms from six months to three years and monthly interest-only payments.
• Lenders hold a first-lien position; around 30% loan-to-value or less is preferred and 50% is the maximum.
• Borrowers pay the loan fees, which are deducted from the proceeds at closing, with nothing to pay before closing.
• GAP closes loans within 10 business days once the required documents are complete. Banks can take many months, if not longer.

If you are a broker or referrer

If you know property owners who need capital, GAP’s referral program pays 20% of GAP’s loan origination fee on a referred loan accepted by GAP that closes and funds. The referral is a short introduction, not a full application. See the GAP Equity Loans referral program for details.

Frequently Asked Questions

Do I need a broker to borrow from GAP?

No. You can apply directly with a loan request, and GAP reviews the file itself.

Does GAP charge fees before closing?

Not on standard loans. The loan fees are paid by the borrower and deducted from the proceeds at closing.

Can a broker refer clients to GAP?

Yes. The referral program pays 20% of GAP’s loan origination fee on a referred loan that GAP accepts and that closes and funds.

What should I do if someone asks for money up front?

Stop and verify who the lender is before sending anything, and have your own Costa Rican attorney review any documents.

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

WhatsApp us at +506 4001 6413 to get started, or call 855-562-6427 from the US or Canada.

Ready to talk about a loan? Start a loan request, review the loan requirements, or email info@gap.cr.

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