Frequently Asked Questions

Top Questions

Why do you need more information to calculate my loan offer?

Every borrower is different and so is every loan. We make sure you’re given the most accurate information possible by asking a few questions about your home and credit. These items influence the details of the loan options available.

How are you able to offer such competitive rates?

Several factors go into calculating your rate, including your credit score, loan amount, and loan to value. By leveraging our innovative technology and streamlined process we’re able to offer such low rates.

What types of loan programs does Volo Loans offer?

We offer financing to purchase a new home, refinance, and even cash-out refinance. There are four loan types: 7/6 ARL, 5/6 ARL, 30-Year fixed rate or a 3/30 Lot Loan. Find out what rate is best for you by getting your personalized offer today.

How long will it take to close my loan?

We are committed to diligently closing your loan. It typically takes about 45 days to close.

Is Volo Loans a U.S. based company?

Yes, we are located in Salt Lake City, Utah.

What is the difference between a Fee Simple and Concession property?

Fee Simple means you own the property, you’re the landowner. A concession property means the Costa Rican government owns the property but gives you the right to use the property for a defined period of time. As such, Volo Loans can ONLY finance Fee Simple properties.

Do you have pre-payment penalties?

No, you will never pay pre-payment penalties with Volo Loans. You will find that in Costa Rica pre-payment penalties are very common with local banks and private financing. Those penalties can range from 1% – 5% of the original loan amount. Good thing you don’t have to worry about that with Volo Loans.

Does Volo Loans offer 30 year amortizations?

Yes, all of our loan products are 30 year amortizations. You’ll find that the majority of local finance options max out between 15 – 20 years.

Do your loans have balloon payment requirements?

Only the 3/30 Lot Loan has a balloon payment. None of our other loan products have balloon payments.

Can I use the home for overnight/short-term rentals?

Yes, the advantage of closing your loan in a Costa Rican LLC is that you can do just that right away.

Are you registered with the NMLS?

Yes, you can visit the NMLS site and enter our NMLS number which is 2459494

What are advantages and disadvantages of a Heloc?

Advantages: easy access to money, acceptable funding source, U.S. based lending, possible interest only payment.


Disadvantages: variable rate tied to prime, rate can change every month, no caps in order to keep the rate from increasing significantly, they’re counted as a revolving line of credit which can negatively impact your credit score, some have a annual fee, most have limits on the amount you can borrow

Where do I go to make a loan payment?

If you click on the ‘Pay Online’ button in the top right of our site, it will take you the log-in page to log-in to your account which will then give you the option to make payment and set up auto payments.

How is LTV calculated?

We divide the loan amount by the lesser of the purchase price or the appraised value.