Costa Rica property owner and attorney reviewing first-position bridge loan closing documents on an open-air terrace

12 Questions to Ask a Lender in Costa Rica Before You Borrow

September 24, 2026
Loan Requirements, Loan Terms & LTV

Borrowing against your property is a big decision, and not every lender in Costa Rica explains its terms clearly. Some advertise fast approval but say little about what happens next. Others leave out fees, currency or payment structure until you are well into the process. The best protection is to ask the right questions before you sign anything. Here are twelve questions to ask a lender in Costa Rica, and how GAP Equity Loans answers each one.

About the loan

1. What is the minimum and maximum you lend?

GAP: from US$50,000. Larger loans are welcome, with additional paperwork above US$1 million.

2. How much of my property’s value can I borrow?

GAP: up to 50%, with around 30% or less preferred. GAP determines the value used, with the lender’s input and acceptance. Your own estimate of the value is a starting point, not the approved figure.

3. How long is the loan?

GAP: six months to three years. These are short-term loans, so plan how you will repay by the end of the term.

4. What currency is the loan in?

GAP: US dollars. Some lenders work in colones, so check that the currency matches your plans.

A man and a woman going through loan documents together at a table on a covered terrace

About the money you pay

5. What do I pay before the loan closes?

GAP: nothing on standard loans. There are no up-front valuation or legal review charges. The loan fees, meaning legal fees and GAP’s loan origination fee, are paid by the borrower and deducted from the proceeds at closing. The amount depends on the loan. More in upfront loan fees in Costa Rica.

6. How are the monthly payments structured?

GAP: interest only, paid monthly, with the principal repaid at the end of the term. Some lenders require principal and interest every month, which means a higher monthly payment. Interest-only keeps your monthly outlay lower, though it does not by itself make the loan cheaper overall.

7. What happens if I want to repay early?

GAP: early repayment carries a penalty. The amount and conditions depend on the lender and are explained during loan review, before you commit. Ask every lender this question.

8. How is the interest rate set?

GAP: the rate is set for each loan during review. The property, its location, the loan-to-value and the overall transaction all matter, and lower borrowing can support better pricing.

About the process

9. Do you check my credit score?

GAP: no credit score is required. You still provide documents about the property and your plan to repay.

10. How long until the money is in my hands?

GAP: within 10 business days once the required documents are complete. Be careful with the word “approval”. A quick approval is not the same as a closed, funded loan.

A woman working at a laptop with papers spread out on a terrace table overlooking a green valley

11. Do I need Costa Rican residency?

GAP: no. Borrowers of any nationality are welcome, and residency is not required.

12. What properties and uses do you accept?

GAP: titled property registered in the National Registry anywhere in Costa Rica, for purchases, refinancing, renovation, construction, business needs or cash. Titled land qualifies on stricter terms. GAP does not lend against beach concession property. Some lenders only refinance or only lend in the Greater Metropolitan Area, so ask.

A question to ask yourself

How will I repay at the end of the term? A sale, a refinance, money arriving from abroad or business income can all work. A clear answer makes your loan easier to approve and your life easier when it comes due.

A laptop, calculator, phone, reading glasses and property papers on a wooden table

Frequently asked questions

Is it normal for a lender to ask for fees before closing?

Some do. GAP’s standard loans have no borrower costs before closing. Whatever lender you use, get any up-front charge in writing and know exactly what it covers.