Banco de Costa Rica loans millions to would-be homebuyers

February 27, 2009

Banco de Costa Rica (BCR) reported on Thursday the release of more than ¢100 billion (nearly $18 million) in housing credit loans this week, money that could ultimately help as many as 6,000 families who wish to build or buy a home.

Home-buyers can apply for the loans at any BCR branch nationwide, and applications will take an average of 15 days to be processed, said a BCR statement released this week.

The measure is part of the Mano Solidaria (“helping hand”) program created after President Oscar Arias in January requested a yearlong 2 percent decrease in interest rates for loans for buying houses and for small, medium and big companies, as well as personal credit.

For a ¢20 million (about $35,736) loan, a person would have to make payments of ¢250,000 ($447) a month. Prior to this program, loan recipients had to make payments of a little more than ¢300,000 ($536).

Basic requirements for an application include photocopies of both sides of the national identification card, proof of address (a utility bill receipt) and a statement verifying the applicant´s monthly income.

You may be interested

PHOTOS: International Museum Day in Costa Rica
Arts & Culture
32 views
Arts & Culture
32 views

PHOTOS: International Museum Day in Costa Rica

Mitzi Stark - May 21, 2018

May 18 is International Museum Day, and Costa Rica celebrated with 31 mini-museums all in one at the Casa del…

Costa Rica, Panama refuse to acknowledge Venezuelan election results
Latin America
53 views
Latin America
53 views

Costa Rica, Panama refuse to acknowledge Venezuelan election results

AFP - May 21, 2018

Costa Rica and Panama were two of 14 countries in the Americas to announce they would not acknowledge the results…

5 questions for US painter Suzahn King
Weekend Arts Spotlight
153 views
Weekend Arts Spotlight
153 views

5 questions for US painter Suzahn King

Elizabeth Lang - May 20, 2018

Suzahn King's paintings, known for their intricate details, are currently focused on her surroundings in Costa Rica, a country she…