For years, many Americans and Canadians dreaming of owning a home in Costa Rica faced one major obstacle: financing. Unlike in the United States, traditional long-term mortgage options have historically been limited for foreign buyers, often requiring large cash purchases or short-term financing with less favorable terms.
Today, that’s changing.
Second Street is helping make Costa Rican homeownership more accessible by offering U.S.-style mortgage financing specifically designed for North Americans buying or refinancing property in Costa Rica.
Bringing Familiar U.S. Financing to Costa Rica
Backed by a multi-billion-dollar U.S. mortgage lender, Second Street provides a financing experience that feels familiar to North American buyers. From the application process to loan structure, the program is designed to mirror the mortgage solutions many homeowners already know and trust.
Whether you’re purchasing a vacation home, investment property, or planning a permanent move to paradise, Second Street offers financing solutions that can help preserve your capital while making your real estate goals achievable.
Key Loan Features
Second Street offers some of the most competitive mortgage options available to U.S. buyers in Costa Rica, including:
- 30-Year Fixed-Rate Loans
- Up to 75% Loan-to-Value Financing
- Fast Pre-Approval in as Little as 24 Hours
- Interest Rates Starting at 8.25%
- Minimum Loan Amount of $150,000
- No Prepayment Penalties
- Flexible Refinance Options Available
With no penalties for paying off your loan early, borrowers have the freedom to refinance or accelerate payments as their financial situation evolves. And importantly, Second Street offers the only true 30-year, fixed-rate loan option in Costa Rica, a rarity outside of the U.S.
Who Can Apply?
Loan programs are available to:
- U.S. Citizens
- U.S. Permanent Residents
- Canadian Citizens
The approval process is structured similarly to what borrowers would expect from a mortgage application in the United States, helping make the experience straightforward and familiar.
How Long Does the Process Take?
One of the most attractive aspects of the program is its efficiency.
Borrowers can receive a preliminary approval in as little as 24 hours, and the entire process from application to closing typically takes approximately 4 to 6 weeks, depending on the transaction.
This timeline can help buyers move quickly when the right property becomes available.
What About Closing Costs?
Many buyers assume financing will dramatically increase transaction costs, but that’s not necessarily the case.
According to Second Street and our clients’ past experiences with them, total closing costs generally remain similar to a cash purchase, averaging approximately 4% to 5% of the purchase price. These costs typically include:
- Legal fees
- Appraisal costs
- Third-party services, like escrow
- Other standard closing expenses
Refinance and Cash-Out Options
Already own property in Costa Rica?
Second Street also offers refinancing solutions, including cash-out refinance programs, allowing homeowners to access equity in their property while potentially restructuring existing debt.
For homeowners seeking liquidity without selling their property, this can be an attractive option.
What About Construction Loans?
While Second Street primarily finances completed homes, there are still financing opportunities for buyers involved in pre-construction projects.
For pre-sale purchases, financing may be available for the final payment at closing, and in some cases previous deposits may be eligible for refinancing. Homeowners who have already completed construction may also have refinance options available.
Why Buyers Are Choosing Second Street
Purchasing real estate internationally requires confidence in the lender behind the transaction.
Second Street distinguishes itself as the only lender in Costa Rica backed by a multi-billion-dollar U.S. mortgage institution while operating in compliance with applicable U.S. and Costa Rican regulations.
This commitment to transparency, regulatory compliance, and financial stability has earned the trust of buyers throughout the country and recognition from the Costa Rica Global Association of REALTORS®.
Making Costa Rican Homeownership More Attainable
Costa Rica continues to attract buyers seeking a tropical lifestyle, investment opportunities, and long-term value in one of the world’s most desirable destinations.
With long-term fixed-rate financing, competitive rates, quick approvals, and a familiar U.S.-style lending process, Second Street is helping Americans turn their Costa Rica real estate dreams into reality.
If you’re considering purchasing or refinancing a home in Costa Rica, now may be the perfect time to explore your financing options and learning more about relocation tips.
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