Financing Property in Costa Rica as a Foreigner: Mortgages, Seller Financing & Buyer Options (2026)

Can foreigners finance property in Costa Rica? Absolutely. Americans, Canadians and other international buyers have several ways to purchase a home here, including mortgages for qualified non-residents, home-equity financing from their home country and seller financing.

For eligible buyers and properties, around 30% down can be a realistic starting point with certain mortgage programs. Some lenders advertise down payments as low as 25%, while others may require 35–50% or more. We help buyers around Playas del Coco, Playa Hermosa, Playa Ocotal and Playa Panamá understand the options and find properties that suit their plans.

What are the main financing options for buying in Costa Rica?

In our experience helping international buyers in Guanacaste, three approaches are especially worth exploring.

1. Borrow in your home country and buy with cash in Costa Rica

Many buyers arrange a home-equity line of credit (HELOC), second mortgage, cash-out refinance or other credit line against assets they already own in the United States or Canada. They then use those funds to make what is effectively a cash purchase here.

This is a popular approach because home-country borrowing rates may be lower than rates available for a Costa Rican mortgage. It can also make the purchase simpler and potentially faster once the funds are available. Compare the interest rate, fees and repayment terms with your home-country lender to see whether it makes sense for you.

There is an important distinction: a regular US or Canadian bank generally does not offer its standard domestic mortgage directly against a Costa Rican property. Borrowing against an existing home at home is different from financing the Costa Rican property itself. Specialist lenders can offer the latter.

2. Get a mortgage secured by the Costa Rican property

Yes, foreigners can qualify for mortgages in Costa Rica, even without Costa Rican residency. Some Costa Rican banks and specialist international lenders offer financing for qualified non-resident buyers. The lender reviews both the applicant and the property before making a final decision.

Programs vary in down payment, interest rates, fixed or adjustable periods, loan term and fees. Some loans are fixed for an initial period and adjust later; others offer longer fixed-rate choices. Rather than focusing only on the advertised rate, compare the full cost of the financing and choose terms that fit your plans.

3. Ask about seller financing

Sometimes a property owner is willing to finance part of the sale directly. This can be a convenient option when the buyer and seller agree on the terms.

In our local market, seller financing is commonly short-term, often about 1–5 years. Many sellers prefer around 50% down, interest broadly comparable to local bank rates, and monthly payments. A balloon payment—the remaining balance—is typically due at the end of the agreed term.

For example, a buyer and seller might agree on half the price at closing, monthly payments for three years and the remaining balance at the end. The exact terms are negotiated, and it's important to plan ahead for the final payment. A qualified Costa Rican attorney will prepare the documents that protect both parties.

Not every seller offers financing, but we can ask whether the owner of a property you love would consider it.

How much down payment should a foreign buyer plan for?

About 25–35% down is possible through certain programs, making 30% a useful starting point for conversations with lenders. The actual requirement depends on your application, the property's value and use, and the lender's rules. Some buyers, particularly those purchasing higher-priced or rental properties, may be asked for a larger down payment.

Here's a simple illustration: on a $600,000 home, a lender approving 70% financing based on that purchase price would mean a $180,000 down payment and a $420,000 loan, plus closing and financing expenses. The bank may use the lower of the appraised value and purchase price, so the final numbers can differ.

The best first step is to discuss your budget with a lender and get an idea of your borrowing capacity. Your agent can then help you narrow your search to properties that may fit the program.

Who pays the financing costs when buying property in Costa Rica?

Buyers usually pay the costs associated with their financing, whether they borrow from a bank, another lender or the property seller. These expenses are normally in addition to the usual property purchase closing costs.

Depending on the arrangement, financing costs may include:

• Lender processing, origination or administrative fees
• Appraisal and required insurance
• Attorney and notary fees for preparing loan or seller-financing documents
• Mortgage registration, guarantee trust or other loan-security setup costs, where applicable

Seller financing also involves legal paperwork and usually a form of security for the unpaid balance, so it isn't automatically fee-free. The parties can negotiate a different arrangement, but the usual expectation is that the buyer covers financing-related expenses. Ask for an itemized estimate before signing so you can plan your total budget comfortably.

Will the lender approve the property you want to buy?

There are two approvals to consider: you as the borrower, and the property itself. A lender may look at the appraisal, registered title, legal access, condition, utilities and relevant condominium or development documents. Different requirements can apply to completed homes, condos, lots, construction projects and concession properties.

A special case: condominium ownership through shares

Most buyers will encounter properties with their own registered real estate title. However, some developments are owned as one property by a corporation, with each condo represented by a share or shares in that corporation instead of a separately registered condo title. This share-based ownership arrangement can create an obstacle to conventional mortgage financing, because the lender may not be able to secure its loan against an individually titled unit.

This is not the same as an ordinary individually titled property owned by a corporation. Corporate ownership of a fully titled home or condo is common in Costa Rica and does not, by itself, mean that financing is unavailable. The relevant question is how the particular unit is titled and what collateral the lender will accept.

If you're interested in a condo in a share-based development, ask your real estate agent and lender about financing eligibility early. That way, we can help you focus on the right options from the beginning.

For buyers considering land or beachfront concessions, our Costa Rica land-buying guide and concession property guide explain some of the additional property considerations.

Does financing make closing take longer?

Usually, yes. A lender needs time to review the borrower, complete an appraisal, examine the property documents and prepare loan paperwork. A financed purchase can add a month or more to the closing process compared with a straightforward cash sale. Some lender programs estimate around 4–6 weeks or longer from application to closing, depending on the circumstances.

Before making an offer, make sure the seller is willing to wait for the financing process. Your agent and independent Costa Rican attorney can help establish a realistic closing date and appropriate financing conditions in the purchase agreement. Clear expectations help everyone work toward a smooth transaction.

What documents do foreign buyers typically need?

Each lender will provide its own checklist, but it's useful to start preparing:

• Your passport and current address details
• Income records, such as tax returns, pay statements, business documents or proof of pension
• Bank and investment statements, including evidence of down payment funds
• Credit history and details of outstanding loans
• Information about the property you plan to purchase

Self-employed and retired buyers can ask which documents best demonstrate their financial situation. Getting organized early can save time later.

Frequently asked questions about Costa Rica property financing

Can Americans or Canadians buy property in Costa Rica with 30% down?

Yes, it may be possible with certain lenders if both the buyer and property qualify. Some programs allow 25–35% down, while others require a larger contribution.

Can I get a mortgage from my bank in the US or Canada for a Costa Rican home?

Most ordinary home-country banks don't offer their standard domestic mortgages secured directly against Costa Rican real estate. Many buyers instead use a home-equity loan or credit line on an existing home and buy here with cash. Specialist lenders also offer mortgages secured by eligible Costa Rican properties.

How does seller financing normally work?

Locally, it's often negotiated for 1–5 years with around 50% down, monthly payments at an agreed interest rate, and the remaining balance due at the end. The buyer typically pays the financing-related legal and security costs unless the parties agree otherwise.

Can I finance a condo owned by a corporation?

Yes, corporate ownership alone is not the issue. The distinction is whether the condo has its own individual registered property title or is represented only by shares in a company that owns the whole development. The latter can be harder to finance.

Can financing affect the closing date?

Yes. Loan approval, appraisal and legal preparation often add a month or more. Agree on a realistic timeline with the seller before signing.

Let's find your home in Guanacaste

Whether you plan to purchase with funds arranged at home, use a Costa Rican mortgage or explore seller financing, we'd love to help you find the right property. Playas del Coco offers convenient restaurants, shops and services; Playa Hermosa has a relaxed beach atmosphere; and Playa Ocotal and Playa Panamá offer beautiful coastal settings.

Start exploring homes in Playas del Coco, Playa Hermosa real estate, or our guide to buying property in Costa Rica.

Tell Tony & Anna your budget, favorite area and what kind of home you're looking for. We're happy to help you explore suitable properties and the practical next steps for your purchase.

Updated November 2026. Financing availability, fees and lending criteria depend on the lender and transaction. Obtain current written terms from your lender and have an independent Costa Rican attorney review the purchase and financing documents.