Special Construction Month Means Lower Rates at Bank

March 19, 2010

The Banco Nacional (BN) has announced that March will be “Special Construction Month,” with the public bank making the commitment to offer lower interest rates and rebates and open credit lines to boost housing construction throughout the country.

Under the motto “We Are Building Together,” the BN said that throughout the month of March and until April 18, interest rates on housing financing will be slashed 50 percent, with interest rates in colones to be set at 10.75 percent and dollar interest rates at 8.36 percent.

According to a BN statement, the bank “is supporting Costa Ricans in their dreams  of owning their own homes,” with mortgages featuring reduced interest rates and a 50 percent decrease in approval fees.

The BN said that during the next six weeks it will provide financing for the purchase of new or used homes or apartments, buying a lot and building, building on a pre-owned lot, building a second home or home expansion or remodeling, the transfer of debt from another bank and the process of refinancing debts into a single credit line.

–Adam Williams

Facebook Comments

You may be interested

Pic of the Day: Costa Rica’s Isla Nublar (aka Cocos Island)
Pic of the Day
66 views
Pic of the Day
66 views

Pic of the Day: Costa Rica’s Isla Nublar (aka Cocos Island)

Alejandro Zúñiga - April 18, 2019

Isla Nublar, the setting for much of the "Jurassic Park" series, is unfortunately not a real Costa Rican island. Cocos…

Costa Rica holds Maduro regime responsible for diplomat’s safety
Costa Rica
11 views
Costa Rica
11 views

Costa Rica holds Maduro regime responsible for diplomat’s safety

AFP and The Tico Times - April 18, 2019

The Costa Rican Foreign Ministry said on Wednesday that it places responsibility with the Venezuelan government of Nicolás Maduro for…

Venezuela withdraws diplomatic credential from Costa Rican diplomat
Latin America
25 views
Latin America
25 views

Venezuela withdraws diplomatic credential from Costa Rican diplomat

AFP and The Tico Times - April 17, 2019

Venezuela withdrew the diplomatic credential from the Costa Rican chargé d'affaires on Tuesday in retaliation for the country’s acceptance of…

Do NOT follow this link or you will be banned from the site!