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Okay, I am going to cut and paste directly from the website(see below), I think welovecostarica.com should contact this loan officer and do a story on this program, it is terrific. I happen to be in Jaco last week and ran into the Loan Consultant Jeff that is beginning to launch a new Finance Package in Costa Rica….not sure I can use the name of the company in the forum?? He is currently taking applications, I have given him 2 myself and know of 6 others that have done so and all is going along extremely smoothly. Well here is the paste from his site:
In the midst of the Global Economic Meltdown, XXXXXXXXXXXXXXXXXXXXXXXXXXX is pleased to announce the best Financing Package ever seen in Costa Rica! Rates and Terms comparable to the USA and in some cases, rates are even lower! Highlights of the Program:
RESIDENTIAL PROPERTY: Single Family and Condominiums Only, High Rise, OKAY! (Email or Call Geoff Below for Commercial Programs)
Cash Out REFI’: No Limit Up to 65% LTV(70%+ in some cases)
REFI’S Rate and Term up to 65% LTV
30 Year Term/360 Months
Stated Income, Verified Asset Program (Asset Driven, More Verifiable Assets, Better the Rate, not FICO Driven)
Foreign and CR Citizen’s/Resident’s can utilize this Program!
Rates 5-7% Currently
No Pre-Payment Penalty
Minimum Fico Score 620 (exceptions may apply due to compensating factors)
***No Land, Development, Project Financing Available (YET)***
2 Months Reserves Required (2 Months of total obligations, ask your Loan Officer for Details)
Standard CR Closing Costs Apply: six points to the lender. However, points may be charged to Buyer, Seller or Included in the Loan Amount!
$75,000 Minimum Loan Amount, NO MAXIMUM
NO LIFE INSURANCE NEEDED
Corporation Owed OKAY!
CALL 506-XXXXXXXXX (in CR) FOR FREE INFO AND NO PRESSURE ANSWERS OR CLICK ON THE CONTACT US TO LET US KNOW HOW WE CAN HELP YOU!
Here is a summary of the services we offer:
* All Rates tied to 3 Month Libor
* Lowest RATES in Costa Rica!
* Commercial Loans.
* Refinancing with Cash Out up to 70% Loan to Value!
* We are located in Costa Rica.
* We have an American Staff. Bilingual.
* Our parent company XXXXXXXXXXXXXX has over 28 years of corporate Costa Rica banking experience.
* Extensive personal local contacts including Appraisers, top Law Firms, Title personel, Real Estate companies and many more…
* We beat all Banks in Costa Rica.Jaco, Grecia, Punteranas, Malpais, Tamarindo Offices
WE SERVE ALL PROVINCES IN COSTA RICA
San Jose, Costa Rica
Local Tel: 506 XXXXXX
Email: XXXXXXXXXXXXXXXXXXXXXXX
Fax:XXXXXXXXXXXXOkay…..anyway I think this is a HUGE deal for us here in CR, I know I am very happy to be getting out of my dam 15% 10 year with BCR! I am personally refinancing with cash out and purchasing a home in Jaco as well.
I would like to see a story to spread the word, because I think many could use this type of loan right now, if not for the cash out to save your asses, but the rates are terrific…..Pura Vida! I will update you of my loan(s) progress……as they happen
Jay
You may not have noticed the part in the Forum instructions that said:
“Remember that ‘commercial posts’ where someone is obviously trying to promote or sell something, are not allowed and will be deleted by one of our Moderators. “
I did however visit the incredibly amateurish website that you recommended to find that:
Out of the internal links detailed on the website:
Meet Our team = Page not found
Loan process = Page not found
Mortgage Basics = Page not found
Commercial Loans = Page not found
Your Questions = Page not found
Partner Links = Page not found
Careers = Page not found
Contact Us = Page not found
Pre Qualify = Page not found
Costa Rica = Page not found
Free Airline Ticket = Nothing happens100% of them do not work – Not very impressive is it?
Please do not post a ‘commercial post’ like this again on our site.
Scott Oliver – Founder
WeLoveCostaRica.comAfter being warned twice not to do so and having his blatantly commercial posting deleted Geoff Sandoval has once again posted his website address in this Discussion Forum a few moments ago (which has again been deleted) and his registration to WeLoveCostaRica.com has been cancelled.
There’s an expression in the newspaper business that goes something along the lines of: “Don’t get on the wrong side of someone who buys ink by the ton!“
I don’t buy ink by the ton, but we do have nearly 16,000 thousands readers and since Geoff Sandoval clearly feels he is special and doesn’t have to follow the very basic, simple Discussion Forum instructions that the rest of us are willing to follow – I would suggest that people are very cautious in their communications with Geoff Sandoval….
We’ll be watching you and your firm very carefully Mr. Sandoval and hope that you are legit.
Scott Oliver – Founder
WeLoveCostaRica.comOne always wonders about these types . . .
If he’s willing to break this rule, what else is he willing to violate??
I was interested in seeing what they had to offer. The guy’s trying to provide a service. I’m not sure why the tone was set so cynically with the guy. Wouldn’t it be worth trying to see if he’s legit rather than throwing him to the wolves right away? Now I’ll never know.
Lots of people are trying to provide a service tomsurfnut and that’s fine IF they abide by the rules we have listed at the top of this page
This is a Discussion Forum and not a Classified Advertising section…
Scott Oliver – Founder
WeLoveCostaRica.comGlad to see we have an open line of communication once again.
Believe it or not we are still around, I won’t go into details here, so I can avoid any advertising or “breaking of rules.” Bottom line is many people have loans with local banks Libor plus 2-3 points, thought they got a great loan a 1-2 years back,since there were “no points” on the front, little did they realize, the “no points” have cost them dearly. Why? Because they have a set “floor” 7-7.5%….ouch that is 4% more than you should be paying….which is considerable if you have a 300,000+ loan…..think about it.
And thank you Tom, because of people like you, we are helping people and doing great business as well.
Email me off board or go to the website if you would like more information.
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