As an Expat, Can I Finance a House in Costa Rica?
by Quatro Legal Real Estate Team | Nov 12, 2025 | Article, Financial Solutions

Buying property in Costa Rica as a foreigner is not as easy as some people think, but also not as difficult as it was in the past with the right guidance and help. Yes, the financing market in Costa Rica and the finance options for expats have changed drastically in the las few years. Now, united states and canadian citizens as well as other nationalities, can obtain financing to purchase any type of property such as a house, condominium or lot in Costa Rica, even without being residents. The key is understanding how financing for foreigners works, the programs and options that exist and the differences between local banks, private lenders, and alternative financing models specifically designed for expat buyers.

Expats today have multiple financing pathways in Costa Rica, not just one. Traditional U.S.-style mortgages through US companies are now being offered to united states citizens and residents, with underwriting process and timelines similar to the United States. Foreigners are increasingly choosing private lending or asset-based financing, where approval is tied to the property value  and collateral quality rather than the borrower’s residency or local credit profile. Private lending is used to secure faster money at a higher rate when a bridge loan is required to secure the dream house. Banks have also entered the ring with long term loans with competitive rates for any type of property. Finally, for  sophisticated projects and investors, expats can also access equity loans against their portofolios to invest in real estate in Costa Rica. As a result, the Costa Rican market now offers a hybrid of North American-style mortgage logic combined with traditional bank loans and a more flexible private capital models tailored specifically for non-residents.

What “financing for expats in Costa Rica” means and why it matters

When people ask if an expat can finance a house in Costa Rica, what they are truly asking is whether a foreign buyer can qualify for a mortgage, trust, or property loan without a Costa Rican income history or residency status. Nowadays, the market is open for expats to finance the purchase of property and make their first or second home or rental property a reality. 

Financing for expats is now different here in Costa Rica because:

• Local banks usually required residency, local income supported by financial paperwork, and had long underwriting timelines to approve a long term loan, but not anymore. 
• Traditional mortgage approvals have been substituted or complemented by US Style mortgages that require foreign income and are based on credit scores. 
• Private lenders have provided access to foreign buyers to use private capital and secured lending to compete with retail bank loans. 

This matters because it opens the market to expats who assumed they had to pay cash or wait for residency to buy property but both are now myths.

Benefits of financing as an expat in Costa Rica

• You don’t need to be a resident to qualify. Private lending and structured financing options can approve foreign buyers directly.
• Faster closing times and competition have created all participants to better their processes. Bank loans will take 90 days. US Style Mortgages will take 30 to 45 days. Private lending will take 7-10 days. Equities 24-48 hours. 
• Property serves as collateral in some cases which is complemented with some financial records which eliminates the need for complex financial information and track record. 
• Financing options keeps liquidity available which is great for investors who want to retain USD-based opportunities while acquiring a property abroad. 
• Better negotiation power as a buyer may opt for different alternatives and even work with pre-approved financing, to compete with “cash buyers” because sellers see it as a ready to close buyer.

Risks and considerations before financing

• Interest rates are typically higher in some products when compared to U.S./EU bank rates, but faster access to capital and no residency requirement is a huge tradeoff.
• Legal review of the property and understanding the market pricing is crucial as due diligence must confirm clean title for the property, no hidden easements, no boundary or concession risk and proper price placement as some properties may need to be appraised by creditors. Legal support is advisable to navigate the different requirements and formalities for financing of real estate to become a reality. 
• Not all properties qualify for collateralized financing. Location, zoning, and tourism/revenue potential can matter and afftect lending terms and conditions. Private lenders, banks and mortgage underwritters have their criteria to select the collareral they are willing to work with. 
• Structuring matters more than in other countries. Choosing the right entity or ownership vehicle protects the buyer long-term. Also, understanding whether to use for a mortgage or trust is indispensable for which full legal advise is required. 

Conclusion: Yes, expats CAN finance property in Costa Rica.

The myth that foreigners must be residents or pay cash is outdated and now it possible for expats to purchase a home, condo, or investment property in Costa Rica without local credit or residency. Financing in Costa Rica to buy your dream house is available. The key is knowing which is the right product for you! 

If you want to know more about financing to purchase your house in Costa Rica, reach out to: financialsolutions@quatro.legal . Whether you’re evaluating a specific property or just exploring options, we can guide you through the financing structure that fits expat buyers through our We Care Financing Solution Program.

Disclaimer: The information provided in this blog post is for general informational purposes only and is not intended to constitute legal advice. While we strive to ensure the accuracy and timeliness of the content, laws and regulations are subject to change. For the most accurate and up-to-date information, please contact our office directly. Some images may be AI generated.