For qualified clients we can find financing from a number of options. These include the following:
- Local reputable banks
- Finance from Overseas institutions
- Owner financing (where the owner / developer finances your purchase).
General Terms & Conditions for overseas financing
• The “American-style” mortgage trust loan program is currently available to home-buyers at selected resorts and residential development projects.
• By leveraging U.S. assets, this program provides affordable permanent mortgage loans when local bank financing would otherwise be unaffordable or unavailable
• This is different from a home equity loan and your US assets are freed and returned after a period of seasoning usually 10 to 12 months
• Must be a U.S. citizen with U.S. assets, and net worth of at least the value of the vacation/retirement property
• Loan amounts: $150,000 to $2,500,000 USD
• 20- to 30-year amortization
• Interest rates: 7% to 9% fixed, depending upon creditworthiness
• 70% Loan to value
• Full-document loans; stated loans possible; loans are in U.S. dollars
• Construction to permanent financing and undeveloped land financing available
• Completed and signed borrower application (Form 1003) including complete list of real estate owned
• Authorization to check credit
• Completed and signed service agreement and disclosures
• Proof of income—Salary employee: W-2s for previous 2 years; complete 2 years of tax returns; last 2 pay stubs; full verification of employment, work telephone number
• Proof of income—Self-employed: Complete 2 years of tax returns; CPA letter and/or reference letters, or other business documentation
• Proof of other income, such as rental income or fixed income: Rental agreements or tax returns to support other income
• Most recent monthly account statement from each mortgage account or asset account
• Purchase Agreement
At the current time, we can arrange financing for you with the following banks listed below.