Costa Rica Real Estate News

The banking system in Costa Rica is composed of three state-owned banks (Banco Nacional, Banco de Costa Rica and Banco Popular), and 18 private commercial banks, one of which is Scotiabank de Costa Rica. In recent months, Scotiabank introduced an innovative mortgage solution called ScotiaMix.

ScotiaMix caters to construction companies, real estate developers, or people simply buying a lot or property. ScotiaMix is a two-currency mortgage solution, combining both US-dollars and Costa Rica-colones.

In a single loan, customers can decide what percentage of the mortgage will be in colones and in dollars.This loan option decreases the risk for customers who earn their income in colones. The benefits of ScotiaMix include financial advisors readily available to help you determine which credit combination is best and long-term financing.

ScotiaMix is unique in Costa Rican mortgage solutions and combines the best of both financing options in the local currency and in US dollars.