Foreign Investors

Buying and financing Real Estate is not reserved for U.S. Citizens or Residents only. If you are thinking about owning a piece of Miami or surrounding communities, but think that you won't be able to do it because you don't have a green card, or you won't be able to qualify for a loan, think again! Real Time Finders can help you achieve your dreams by guiding you throughout the entire process.

Please read this report by the National Association of Realtors that will help you understand why people from all over the world invest in Florida property! (422 KB, PDF, Adobe Acrobat required)

2008 INTERNATIONAL BUYERS PROFILE FOR FLORIDA

Buying property with US financing

The following is a list of the minimum documentation required in order to pre-qualify for a loan from a U.S. bank:

• Purchase contract for the property you wish to finance
• Copy of the first pages of your Passport (must be clearly legible and show expiration date)
• Copy of your valid U.S. Visa
• Copy of the down payment checks for the property (if applicable)
• Letters of reference from Financial Entities:
• Letter from a Bank from your country of origin stating account number, status, balance and opening date. Must mention that it is handled satisfactorily
• Letter from a Credit Card company or similar stating account number, status, balance and opening date. Must mention that it is paid on time every month
• Letter from Employer (if employed)
• Must specify: actual position, annual salary, time on said position for the last two years
• Must mention name and phone number for the person signing the letter
• Letter from an Accountant (if self-employed or business owner): must state shareholder stake in the company (if owner), time in charge, business type, position, salary and/or profits for the last two years
• Must show accountant's address, phone number and license number (a copy of the accountant's license is strongly recommended)
• U.S. Bank Accounts:
• Copy of the last two statements
• Must show enough funds for the down payment and closing costs, in addition to a reserve equivalent to six (6) months of payments (mortgage, taxes, insurance and/or association expenses). If the loan is over $1,000,000 (one million) dollars, the reserve funds must equal 12 (twelve) months. These funds must have been in the account for two months before closing the transaction. Otherwise, a verification of funds is required, where it must show that said funds belonged to the buyer.
• If bank statements are not available, buyer must provide complete account information (bank name, account type and number, approximate balance) so that a verification of funds can be ordered.