Banco de Costa Rica loans millions to would-be homebuyers
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
Costa Rica celebrates 150 years of free educationAlejandro Zúñiga - April 22, 2019
Costa Rica on Monday celebrated 150 years of free, obligatory and state-paid education with a ceremony at the Escuela Jesús…
Alajuelense eliminated in the Costa Rican ClausuraAFP and The Tico Times - April 21, 2019
Liga Deportiva Alajuelense tied 2-2 against the reigning champion, Club Sport Herediano, and was eliminated from the semifinals of the…