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General Information
Important questions in regards to financing for Foreign Nationals in Florida
What exactly can a foreign national finance in Florida?
- Single Family House purchase
- Multi Family purchase (1-4 unit multi family property loans are available in select areas)
- Condominium purchase
- New construction
The guide to successful financing for foreign nationals
The light is green. Investors who have followed the US market in the last weeks, months, and
years realize now: their time has come. The development of the US house prices, the
interest rates and the USD exchange rate point in one clear direction – if you are thinking
about investing, do it now!
The most frequent mistakes foreign nationals make while financing
No finance contingency clause in the purchase contract
Without a finance contingency clause in your purchase contract you are obligated as the
buyer to fulfill the requirements of the contract terms (for purchase) – even, if you cannot
provide the required funds. [Read More]
How much dream house can I afford as a foreign national with financing?
Often times you can afford more than you would expect. But also, in some cases not as
much as you were wishing for … Regardless of whether it was something you have always
wished for or a spur of the moment decision – when looking for a vacation home in Florida
you should know in which price range you should be searching. [Read More]
How much can I finance when buying a house in the United States?
In almost all regions of Florida foreign investors can finance up to 70%. 70% - of what
exactly? Of the purchase price? Of the published tax value? Furnished or unfurnished? And
what about the boat?
To start: You can finance anything that is attached to the property. Specifically, the home
itself, the pool, the screen, the boat dock, the sea wall, appliances etc. What a loan does not
include however is furniture, car, boat etc. This is important because often time the
furniture is included in the purchase price. [Read More]
The advantages of financing for foreign nationals
In preparation for the purchase of real estate in the USA, the question about payment
always arises first: cash payment or financing? And in the case of financing – do I finance in
my home country or in the USA? [Read More]
Due Dates, Time Frames and Deadlines of Loans for Foreign Nationals
Real Estate Contract Deadline.
You fly to the United States, look at several properties with
your real estate agent and finally sign a purchase contract. The finance contingency clause
therein will be completed by your real estate agent. [Read More]
Supporting Documents Required
In every case, early organization of the required documents is an essential part to speed up the loan process. But it is possible to wait until the purchase contract is already signed. [Read More]
Mortgage payment basis for foreign nationals
Prepayment penalty:
Aside from a very few exceptions, you can prematurely repay your loan either in part or
entirely without being charged with penalties. [Read More]