tag:blogger.com,1999:blog-2563197201266076313.post-14501906115798945372008-03-12T10:31:00.003-04:002008-03-12T10:55:03.045-04:00We have had a lot of inquiries from foreigners regarding financing options, so I thought it would make a good <em>blog topic</em> today.<br /><br />Depending on the borrower; if they have the equity on their primary home (in Canada, South America, Europe, etc.) many may choose to get the monies out of that residence then pay cash for their U.S. purchase. However, if they are seeking "local" financing the following is a recap provided to me by our in-house lender, <strong>Sunbelt Lending Services:<br /><br /></strong><ul><li><span class="blsp-spelling-corrected" id="SPELLING_ERROR_0">Down payments</span> starting at 25%</li><li>Loan amounts from $50,000 to $2 million</li><li>No American credit necessary</li><li>Full Income documentation <strong>AND</strong> Stated Income documentation programs available</li><li>Fixed and adjustable rate programs available</li><li>Interest only payments available as well</li></ul><p>Other pertinent information which I believe to be helpful:</p><ul><li>Most loans have a <span class="blsp-spelling-error" id="SPELLING_ERROR_1">pre</span>-payment penalty~usually 3 years</li><li>Loan Limits and Loan to Value limits based on: Property type, Program type, Purchase versus refinance and Loan amount</li><li>All borrowers must supply proper <span class="blsp-spelling-corrected" id="SPELLING_ERROR_2">identification</span>: Visa, passport &amp; drivers license</li><li>Most loans require 6 months of reserves deposited into a U.S. bank account prior to closing and authorization for withdrawal</li></ul><p>*Obviously all programs are subject to change without prior notice. This is being provided for informational purposes only. For additional information please contact <strong>Kelly <span class="blsp-spelling-error" id="SPELLING_ERROR_3">Rebimbas</span></strong> at 239-273-5239 (direct).</p><p>With the strength of our foreign buyer's dollar and the wonderful selection of properties in Naples currently on the market, there has NEVER been a better time to buy real estate than NOW! Log onto our website today to view our fabulous listings <a href="http://www.naplesrealestate.com/">http://www.naplesrealestate.com/</a></p>Michele Peppehttp://www.blogger.com/profile/01568757324465406600noreply@blogger.com