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Expo-Casa features
favorable terms for
home mortgages
By Adam Williams
Tico Times Staff
Everything related to homes, condos,
apartments, and lots can be found at Expo-Casa,
Costa Rica’s national housing expo, which
kicked off Wednesday at the Centro de Eventos
Pedregal in San Antonio de Belén in Heredia.
The expo runs through Sunday evening and
features 258 stands with information about
renting or owning a home or property, financing
a home, and home design and décor.
Of those stands, 12 are occupied by
national banks and finance companies, all of
which are offering special low interest rates
to attract buyers.
“We’ve seen the housing market slowly
start to come back,” said Max Bolaños, supervisor
of mortgage credit at Banco Costa Rica
(BCR). “The economy is getting a little better
and we are hoping to meet the needs of
interested buyers by lowering interest rates
and helping them take on mortgage payments
a little more easily.”
The banks each offer their own financing
plans with different interest rate scales (see
box) and most will finance up to 80 percent
of the property value. Each bank is offering
its own variety of incentives, with packages
that include eliminating lawyer fees, waiving
commissions, offering cable and Internet
packages, and consolidating existing debts.
In addition to the financial offerings on
display, many of ExpoCasa’s stands are decorated
with condo, resort and home design
models. Dozens of condominium, apartment
and development companies are on hand to
provide guests a glimpse of possible home,
floor plan, pool and view options for visitors
interested in a purchase. Condominium and
housing developments from around the country
are offering living options in the Central
Valley as well as mountain and beach climates.
Jason Alvarado, expo spokesman, said
that home prices on offer range from $49,000
to $560,000.
“The reason ExpoCasa has always been
so helpful for visitors is that it allows them
to take care of many of the steps involved in
buying a house or property in the same place,”
Alvarado said. “It makes the entire process of
becoming a home owner much easier.”
Around 14,000 people are expected to
visit ExpoCasa during the 5-day event.
awilliams@ticotimes.net |
Bank Offerings at ExpoCasa
Scotiabank
* Fixed 6.75 percent interest rate in dollars for first three
years
* In colones, a variable rate starting at 16.25 percent is
offered
for a 25-year loan
* Offers “Switching” to consolidate debts at 8.5 percent
interest
in dollars for five years
Kattia Picado, 2296-2722,
kpicado@comunicacioncorporativa.net,
Yahaira Barquero, 2296-2722,
ybarquero@comunicacioncorporativa.net
Banco de Costa Rica (BCR)
* Loans offered with variable, staggered and fixed interest
rates
* 25-year mortgages
* Offer runs through Oct. 30
* No attorney’s fees
* Debt consolidation offered
For more information visit
www.bancobcr.com,
call 2284-
6600, 2287-9000, or e-mail
ServiciosBancaElectronica@
bancobcr.com
Banco Popular
* Loan of $300,000 carries 7 percent interest rate over 20
years
* Financing for 80 percent of property value
* No commissions
Vilma Mejías, 2211-7397,
vmejias@bp.fi.cr
Cristian Vega, 2211-7139,
cvega@bp.fi.cr
BAC
* Home loans range from $60,000 to $400,000
* Financing for 80 percent of property value
* Monthly payment cannot exceed 30 percent of family income
For more information visit
www.bacsanjose.com
or call
2295-9797
Banco Nacional
* 7 percent fixed interest rate for first three years, 7.25
percent for the next two, and a variable rate over the
remaining 15 years
* 70 percent of property value assessment fees
* 50 percent of cost for Cable Tica for a year
* Two months free Internet
* Free mortgage calculator available at
www.bnonline.fi.cr/
Login/Prestamos/SimuladorHipotecarioPage.aspx
For more information, contact: Amalia Palacino,
2212-2920,
apalacino@bncr.fi.cr
Grupo Mutual
* A range of loan plans
* Debt consolidation
* Offers run through Oct. 31
For more information visit
www.grupomutual.fi.cr
or call 2437-1000
Banco Lafise
* 25-year fixed interest rate
* 1 percent commission costs
* 25-year mortgage covering 80 percent of property value
* Also offers variable rates and lot financing
Sergio Calderón, 2246-0800
x748,
scalderon@lafise.fi.cr
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