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Getting a Loan

If you want to  purchase a property and need financing, the first thing you should do is contact a mortgage expert, preferably recommended. The professional mortgage officer will prequalify you  taking into account your credit history, your employment, debts, etc. In order to do so, he/she will  require some documents at  the time of your  first interview.

Once you are preapproved for a  loan, the mortgage professional officer  will issue a letter of pre-approval which will  be provided to your Realtor to begin the search for the home of your dreams.   Your mortgage professional officer  will notify you the amount  you have been approved for; the approximate  interest rate  that you will get;  the type  of loan  you  qualified (FHA, Conevntional, VA, etc) ; the amount of down payment  you should have and the  approximate closing cost you  will need to bring at the time of closing.

FOREIGN NATIONAL LOANS

If you live abroad and want to buy a property financed in the USA,  below are the requirements and documentation you might need at  the time of application:

  • 3 letters  of commercial references in the country of origin
  • 2 letters of banking institutions where you have accounts in the country of origin
  • Copy of your passport and AMERICAN  VISA
  • Copy  of  other form of personal identification (ID, etc)
  • Last 2 bank statements of your account in USA
  • Minimum 30% down payment available in your bank account  in a USA bank   or country of origin bank (some restrictions may apply)
  • Personal profit and loss and / or your company for the last 3 years
  • Letter from a Certified Public Accountant reflecting your occupation and annual salary or employment letter with  the letterhead and seal of the company.

Copy of personal identification and licensed Accountant.

NOTE: If you are planning to purchase a home cash, you won’t need an American Visa to do so, however, you will need a proof of funds and/or bank statement showing your balance.