How to purchase your Florida dream home...

Steps to buying a property in Florida with a Florida mortgage:

Here is some helpful advice for buying a property in Florida and securing your Florida mortgage. Our Florida mortgages are also corporation and LLC friendly.

1. Documents possibly required at the early stages of your Florida Mortgages

When you select the property in Florida that you want to purchase, you need to obtain:

• A Florida sales purchase contract from the developer and a copy of a valid passport.
• As there are hundreds of available Florida mortgage products, the required documents will vary from almost no documentation all the way through to full disclosure. These Florida mortgage programs are aimed to please every variety of client so be assured we have the right Florida mortgage for you.

2. International Credit Report

Clients will require an international credit report for their Florida mortgage which will be completely arranged by us.

3. Additional documentation you may need to provide

The following is a list of the usual documents that may be required with your Florida mortgage application (depending on the Florida mortgage program you choose).

• Certified copy of passports
• Previous six months bank statements
• Signed copy of the sales purchase contract
• International Credit report
• Appraisal Reports (Fidentia will arrange for these)
• Proof of Employment or CPA letter verifying 2 years self- employment or 2 years business license
• Up to 6 months cash flow reserves (Variable for each Florida Mortgage, 6 months is the maximum)
• 3 established credit lines with 2 years maturity

4. Sample Florida Mortgages (Brief descriptions of popular Florida Mortgages)

► Pick a Payment (Option Arm Mortgage)

Three payment options each month to choose from to manage your mortgage and cash from. Every loan statement will let you choose the payment amount that best matches your current financial needs. Pay the minimum amount to use some extra cash for other purposes, or make larger payments for faster equity build-up. This loan is for clients who consider themselves truly savvy investors…

Payment Option 1: Minimum payment where the rate is calculated as low as 1% and your initial monthly payment will reflect this rate.

Payment Option 2: An interest only payment where only the interest on the rate is paid and no deferred interest is accumulated.

Payment Option 3: A full repayment mortgage including principal and interest that allows you to build equity the fastest.

Remember you can choose a different payment every month so you are never locked in allowing for increased cash flow management as well as greater flexibility.

► The NO DOC Florida loan

No documentation is required for this type of mortgage! It is the fast and easy mortgage for foreign nationals. Avoid any complicated procedures through local banks and allow us to handle your Florida Mortgage.

25% down is all that is required and finance the rest of the 75%. Purchase it as owner occupied, 2nd home, or as an investment property. Your income and assets will not be stated or verified.

► The NO INCOME / STATED ASSET Florida Loan

No documentation is required for this type of mortgage! It is the fast and easy mortgage for foreign nationals. Avoid any complicated procedures through local banks and allow us to handle your Florida Mortgage.

25% down is all that is required and finance the rest of the 75%. Purchase it as owner occupied, 2nd home, or as an investment property. Your income and assets will not be stated or verified.

► The NO INCOME / STATED ASSET Florida Loan

State your employment and assets with the assets not being verified. The documentation on this loan is very limited and provides great qualifying interest rates for your Florida Mortgage.

Up to 90% financing available. Closing costs and 2 months reserve funds will get you approved. Fixed and Variable rates are available for you Florida Mortgage. Lot and construction loans available as well.

► The Sterling Florida Loan

 Up to 80% LTV is available with full documentation and up to 75% LTV self certification is available. Interest only mortgages are also available. 1, 3 and 5 year fixed rates are available. The currency of the mortgage is Sterling.

If you are looking to rent your Florida property:

Some items to be aware of if you are planning to rent your Florida property.

• You may not be able to find a tenant for your Florida property all year round. You will need to take this into consideration when working out the affordability of the property you are considering
• Costs you may incur include cleaning and maintenance.
• Rental management companies are available to service your Florida investment properties.
• You may be liable to tax on your rental income. You should always seek independent advice from a tax expert.