Professionally
Administered Mortgages and Loans
The
mortgage program offers a high rate of return with
good security.
Mortgages
are in US dollars at 18% interest, yielding our
client 16% after a 2% charge for administration.
Casa Canada Group finds qualified
borrowers, take applications, runs credit and
legal checks on the borrower and property, studies
certified financial statements to prove income and
ability to pay, inspects the property and then if
all is well has the property appraised by a
professional appraiser.
When
everything checks out, Casa Canada Group will lend
up to a maximum of 50% of our appraiser’s
valuation of the buildings and property.
A maximum of 30% of the value of raw land
will be loaned.
Raw land includes farms, subdivisions,
lots, or any other property where land makes up
the vast majority of the value.
Our client is never secured by less than
200% of the amount of
the investment.
The mortgage is registered in the Central
Registry of Costa Rica against the specific
property in the name of the client’s company.
Casa
Canada Group ensures payments are made on time,
and followed up if they are not.
Payments from borrowers are deposited or
invested as instructed by the client.
Mortgages have a term of one year, so an
investor can withdraw the money in one year
provided we receive notice two months before the
renewal date of the mortgage and the mortgage is
up to date. If
a mortgage is not in good standing the borrower
will be notified that the mortgage will not be
renewed, and the investor will be paid when the
borrower pays out the mortgage.
Casa
Canada Group requires that investor funds be in
our hands before a mortgage is approved to ensure
that the mortgage will be funded as soon as all
conditions are met.
If
an investor has an emergency and requires funds
that are in a mortgage, it is possible to borrow
against the mortgage at 18% interest (a net cost
of 2% - the administration fee), or a mortgage in
good standing can be sold early for a 2% transfer
fee.
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