Arranging your non-resident mortgage in the United States of America

The real estate market in and across the United States of America is as varied and expansive as the country itself. Although the age old adage comes off a bit trite and certainly overused, when it comes to real estate investment and other real property purchasing opportunities in the United States, there actually is something for everyone. There are many different opportunities available to the savvy shopper.

In the 21st century, an ever growing number of men and women are electing to make the purchase of investment real estate in the United States.

While Florida property purchases can often be financed from one's own home country, perhaps, using a main residence or secondary property as security, U.S mortgages will frequently be more attractive and are readily available subject to status. Advances of 70% of the cost (house, lot and pool) are relatively simple to obtain, 75% are not normally a problem although much detailed financial information will be required.

Interest rates can be fixed or variable. Fixed rates are currently around 8.5% fixed for up to 30 years and generally with no penalty for early redemption, making such a proposition considerably more attractive than financing available from within most other countries. Variable rates start at around 7% per annum.

Arizona, Massachussetts, Michigan, Utah: Max 70% LTV - Max term 40 years - $60,000 minimum loan - Repayment & Interest only mortgages - Rates from approx 7% Fixed for 5 years. Low start rates from approx 1.5%.

California Colorado, Connecticut, Delaware, District of Columbia, Georgia, Hawaii, Illinois, Kansas, Nevada, Virginia: Max 75% LTV - Max term 40 years - $60,000 minimum loan - Repayment & Interest only mortgages - Rates from approx 7% Fixed for 5 years. Low start rates from approx 1%.

Florida, Maryland, New Jersey, North Carolina, Pennsylvania, Texas: Max 80% LTV - Max term 40 years - $60,000 minimum loan - Repayment & Interest only mortgages - Rates from approx 7% Fixed for 5 years. Low start rates from approx 1.99% in Florida, 2.45% elsewhere.