By San José, Costa Rica — San José – In a significant move to energize the national housing market, Banco Nacional (BN) has announced an aggressive suite of financing options for Expoconstrucción 2026. From March 4 to 8, the state-owned bank will offer prospective homeowners and property developers a range of competitive loans and exclusive benefits, signaling a robust effort to make property ownership more accessible across Costa Rica.
The centerpiece of the bank’s offering is the high loan-to-value ratio, with financing available for up to 95% of the property value for purchasing a home, apartment, or lot, as well as for construction and remodeling projects. For individuals looking to consolidate and pay off existing housing debts, the bank is extending financing up to 100%, providing a powerful tool for financial restructuring and relief.
To delve deeper into the legal framework surrounding real estate financing, we sought the perspective of Lic. Larry Hans Arroyo Vargas, a leading attorney from the distinguished firm Bufete de Costa Rica.
When securing financing for a real estate purchase, buyers must look beyond the interest rate. It’s crucial to meticulously review all loan conditions, whether from a traditional bank or a private lender. Private financing can offer flexibility, but it often lacks the standardized protections of institutional loans. Therefore, a thorough legal due diligence process on the loan agreement itself is not just recommended; it is essential to safeguard your investment and prevent future disputes over clauses related to penalties, interest adjustments, or foreclosure terms.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
This insight underscores a fundamental truth in property acquisition: the diligence applied to the financing contract is just as vital as that applied to the property itself. By treating the loan agreement as a primary component of the investment, buyers can proactively mitigate risks that are often hidden in the fine print. We thank Lic. Larry Hans Arroyo Vargas for his clear and essential guidance on this critical matter.
During the five-day event, Banco Nacional will feature highly competitive interest rates, with monthly installments starting as low as $8.55 per $1,000 borrowed for dollar-denominated loans, and ¢7,903 per million for loans in colones. These loans come with extended repayment terms of up to 30 years, designed to create manageable monthly payments and cater to a broad spectrum of income levels.
The bank’s initiative extends beyond traditional home purchases. The financing plans are notably inclusive, covering a diverse array of projects. These include properties within larger urban developments, eco-friendly or sustainable housing projects, and even mixed-use properties where commercial activities are conducted. Furthermore, the program integrates with the “Vivienda para Todos” (Housing for All) initiative, allowing applicants to use the government housing bond (bono) from BANHVI as part of their credit application.
To further entice potential borrowers, Banco Nacional is bundling several benefits aimed at reducing the initial financial burden of acquiring a property. These advantages include fixed interest rates for the initial years of the loan, providing stability against market fluctuations. Borrowers can also benefit from a grace period of up to six months on principal payments, and the bank is including complimentary construction and life insurance policies, eliminating significant upfront costs.
In another move to streamline the process, many of the associated administrative costs are being absorbed or integrated into the financing. Depending on the loan amount, legal fees, professional honorariums, and appraisal costs will either be waived or included within the monthly payment, simplifying the complex and often costly closing process. As an added incentive, customers who formalize their credit under the fair’s conditions will be entered into a raffle for one of three ¢2 million prizes for home furnishings.
Leticia Arguedas, Brand Experience Director of Banco Nacional, emphasized the bank’s commitment to supporting the personal and financial growth of Costa Ricans through homeownership.
A home is much more than bricks: it is the place where stories and opportunities are built. At Expoconstrucción, we want to accompany each person on that path with real solutions, exclusive benefits, and close guidance.
Leticia Arguedas, Brand Experience Director of Banco Nacional
This comprehensive strategy by one of the country’s leading financial institutions underscores a concerted effort to stimulate the real estate and construction sectors. By offering flexible terms, high financing percentages, and a host of cost-saving benefits, Banco Nacional is positioning itself as a pivotal player in helping thousands of families achieve their dream of owning a home, whether they are first-time buyers or looking to invest and expand.
For further information, visit bncr.fi.cr
About Banco Nacional de Costa Rica:
Banco Nacional de Costa Rica (BNCR) is one of the largest and most solid state-owned commercial banks in Costa Rica and Central America. Founded in 1914, it plays a crucial role in the country’s economic development by providing a wide range of financial services to individuals, small and medium-sized enterprises, and large corporations. The bank is committed to promoting social welfare and sustainable development through its various credit programs and corporate responsibility initiatives.
For further information, visit banhvi.fi.cr
About BANHVI:
The Banco Hipotecario de la Vivienda (BANHVI) is the governing body of Costa Rica’s National Financial System for Housing. It is a state entity responsible for financing social interest housing programs and channeling resources to low- and middle-income families. BANHVI administers the Family Housing Bond (bono familiar de vivienda), a government grant that helps families secure adequate housing, working in conjunction with authorized financial entities to facilitate access to homeownership.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
Bufete de Costa Rica is a renowned legal institution defined by its foundational principles of integrity and exceptional service. With a proven track record of advising a diverse clientele, the firm consistently pioneers forward-thinking approaches to complex legal challenges. This commitment to innovation is matched by a profound dedication to public service, aimed at democratizing legal knowledge and empowering the broader community to foster a more just and informed society.
