Mortgage Center

At Florida Brokers we help provide financing for foreign nationals. The foreign national residential loan programs feature low documentation with quick, easy approval. We are foreign national loan experts and help obtain loan programs specially designed for foreign nationals that streamlines and expedites the loan process.

Florida Brokers has a dedicated team experienced in helping to obtain home loans where we become intermediaries between banks offering different financing programs for foreigners. In this manner, we help you get the best alternative tailored to your requirements. This process is very simple, and we could even say that it is easier than for a local-area customer.


Requirements for Foreign Investor

  • An initial contribution of between 30% and 40% of the purchase value and the balance with a mortgage rate as low as 5% annually
  • Demonstrate that these funds are readily available, and the required amount can be paid in your name. In some cases an explanation of the source of funds is needed. For example for the sale of a property, the signed contract and other documents related to the sale may have to be provided.
  • Letters of Credit References (Example: Lines of Credit, automobile financing, credit cards such as VISA, MASTERCARD, AMEX). We will send you the form letter that the banks require. These references can be sent in Spanish.
  • Letter of employment: If employed, provide a letter from an accountant stating your monthly income.
  • Two months of bank statements from where the money came.
  • Banks require you to show sufficient financial reserves to ensure there will be sufficient funds at closing.
  • In addition to this, the bank requests an additional 5% of the value of the property to pay for closing costs, reserves, taxes.

Florida Brokers will help you throughout this process in order to ensure that the loan is secured without any problems.

The key advantages of the Foreign National Loan Program include:

  • Fixed rate terms (10, 15, 20, 25 & 30)
  • Adjustable rates (3/1, 5/1, 7/1, 10/1)
  • Interest rates from 5% annually and up
  • New home loans and refinance
  • Debt-to-income ratios are 35%/45% ("Assets for income" option)
  • No pre-payment penalties
  • New home loans and refinance
  • No pre-payment penalties
  • Up to 65% loan-to-value financing
  • Eligible properties include single-family residences, condos, townhouses and non-warrantable condos.
  • Second homes financing
  • Low bank fees.
  • Can close in an LLC
  • Self-employed okay
  • Available in Florida

 

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