Topic of the Month

SCOTIABANK RELEASES NEW TERMS AND CONDITIONS

Scotiabank and Stewart Title Costa Rica (STCR) have been working hand in hand for the past four years, offering competitive residential financing solutions for non residents purchasing real estate in Costa Rica. This alliance has been strengthened since Scotiabank joined the Mortgage Alliance Program, Scotiabank’s program continues to be the leader in non resident residential mortgage lending in Costa Rica. Their latest terms and conditions offer options for finished housing and home sites, for both purchase and refinancing.

	HOUSING	HOMESITES
Term	25 years	15 years
Annual Percentage Rates	8.75% Fixed 1st year - Prime + 6.50%	Prime + 9.50%
Loan to Value (LTV)	75%	50%
Floor Rates	9.75%	11.50%
Maximum Loan Amount	$2.5 million	$2.5 million
Origination Fee	1.5%	2.5%
Application Type	Full Document Application	Full Document Application

Do you have potential customers that might be interested in purchasing residential units at bargain prices? STCR has coordinated with several lenders, aiding them in selling distressed assets including residential units or home sites before the foreclosure process takes place. Attractive opportunities exist to those who are currently looking to buy. For more information, please e-mail map@stewartcr.com

Actual Members

Events

Join us for the MAP/STAR EVENT – “REAL ESTATE TRANSACTIONS IN THE SOUTH PACIFIC – CHALLENGES AND ADVANTAGES” at the Hotel Cuna del Angel on Thursday, June 25, 2009. Our keynote speaker will be Rafael Cañas from Facio Abogados. The hotel is offering a 20% discount for MAP / STAR members attending.

This newsletter is for informational purposes only, and does not constitute either legal or financial advice. It is based on material that we believe to be reliable. While every effort has been made to ensure its accuracy, we cannot offer any warranty that it contains no factual errors.



Phone: (506) 2258 5600 Fax: (506) 2222 7936 From U.S. dial (214) 774 2204

The Mortgage Alliance Program (MAP) is not affiliated with Stewart Information Services Corporation, Stewart Title Guaranty Company or any of their subsidiaries and affiliates.