Invest in South Floridawith local support.
Financing for foreign buyers, properties for sale and legal and tax advisory in the United States, with partners experienced in the state.
Financing for foreign buyers
If you are not a permanent resident or US citizen you can still access a mortgage. At ALGI PROPERTY we work with a strategic partner who advises and supports you throughout the process: MORTGAGE24/7, with broad experience in mortgage financing in Florida.
Typical features
- Purchase down payment, depending on country of origin
- 25% to 50%
- Down payment for refinancing, on the appraised value
- 50%
- Minimum loan amount
- USD 100,000
- Loans amortised over 30 years
- 30 years
- Fixed interest, depending on the programme
- 3, 5 or 7 years
- Maximum debt-to-income ratio (DTI)
- 42%
Other points to consider
- 12-month certificate of deposit.
- Principal-plus-interest payments, or interest-only.
- Depending on the programme there may be a prepayment penalty during the first three years.
- The loan can be in your personal name or in the name of an LLC.
Steps to buy with financing
- Bank pre-qualification
- Find the property
- Sign the purchase contract
- Loan application
- Property appraisal
- Bank commitment period: 30 days
- Closing and registration: 45 days
Basic requirements
- Copy of your passport and of your US visa for entering the US.
- Copy of your national ID.
- Income certification from your public accountant, with a copy of their licence and good-standing certificate.
- Copy of the company’s commercial registration, if applicable.
- US bank statements for the last 3 months and home-country statements for the last 6 months.
- Bank and personal credit reference letters (Visa or Mastercard).
- Credit card statements for the last 3 months.
- Two personal reference letters.
- Short description of your business and a letter explaining how you built your wealth.
- A utility bill for your home-country residence.
- Copies of the cheques or transfers sent to the seller or title company as a deposit, with the statement showing the payment.
- Fully executed purchase contract. If buying in the name of a corporation, additional information is requested.
This information is a general guide and is not financial advice. Conditions and requirements depend on the lender and change over time.
Getting a US mortgage as a foreign buyer is feasible, but it takes preparation and choosing the right lender. Rates can be higher and down payment requirements stricter; by following the right steps you gain access to opportunities in the US market.
Projects and properties for sale
Everything you need for a successful investment in Florida, you do with ALGI PROPERTY and our partner Potential Property Group Real Estate. Browse the residential and commercial properties listed on their site.
Browse properties at ppgmiami.comFinancial, legal and tax advisory
Through specialist firms (attorneys, title companies, real estate agents and accountants) we offer complete advice for buying property in the United States. Your investment is structured efficiently and safely, with full knowledge of your financial, legal and tax rights and obligations.
Let’s talk about your next investment.
Tell us what you’re looking for and an ALGI PROPERTY advisor will reply, at any hour.