STEWART Title Costa Rica has announced the launch of its new Mortgage Services Program, designed to help non-resident North Americans in Costa Rica obtain mortgage financing. Through an alliance with the Southern National Bank of Texas, as well as several local banks, U.S. or Canadian citizens can obtain loans with standard U.S. documentation and one-stop shopping: Stewart Title is the sole point of contact for the customer, and offers a response time of 15-22 working days, according to a statement from the company.
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The program seeks to offer a solution to a common problem for non-residents interested in a mortgage – local banks cannot always obtain the background and credit information they need to grant a loan, and international banks generally do not offer mortgages, the statement said.
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The process requires a $280 nonrefundable deposit to Stewart Title, used to cover underwriting costs. General conditions include 20-year terms and competitive interest rates.
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Customers must have life insurance to be eligible.
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For more information, contact Stewart Title Costa Rica at 258-5600, 800-STEWART, or e-mail: customerservice@stewaartcr.com.
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