USA (including Florida)

What’s covered:

• All states in the USA, including Florida
• Residential loans for apartments, condos and houses
• Buy to let loans
• Land loans are available on a case by case basis
• Commercial loans are also available

Loans available:

• For purchase, re-mortgage, self build or equity release
• Variable, fixed, and interest only mortgages available
• Non-status loans are available, including for interest only loans

Loan to Value (LTV):

• Based on the valuation of the property by the lender
• 75% LTV loans are available in Florida depending on property type and location
• 60 - 65% non-status (self certification) loans are available for second home purchases in Florida
• 60 - 65% non-status (self certification) loans are available for second home purchases in other states
• Buy-to-let Loans are also available

Interest Rates:

• Depends on the chosen mortgage product. US dollar and sterling mortgages are available.
• With Off shore lenders approximately 4.5%
• With US lenders starting from 6.75%

Loan Products available: (These are just a few examples)

• 3/1 Program:
  Interest rate is fixed for the first three years and then adjusted every year after. Amortized over 30 years. Interest only payment is also possible.
• 5/1 Program:
  Interest rate is fixed for the first five years and then adjusted every year after. Amortized over 30 years. Interest only payment is also possible.
• 15 and 30 year fixed Program:
  Interest rate if fixed for 15 or 30 years and does not change. Amortized over 30 years.
• Option ARM Mortgage:
  Option arm mortgages with monthly pay options are available. These are potentially differed interest loans. For example if the fully indexed rate is 7.5%, then every month you have four payment options available to you:
       1. Interest only
       2. Full repayment based on 30 years (40 year also available)
       3. Full repayment based on 15 years
       4. Minimum payment as low as 1.5% with the repayment term of up to 40 years.
           The differed difference between the fully indexed rate (8.1%) and the
           minimum payment of 1.5% will be added onto the principal. The
           differed amount can be paid at any time, when it exceeds 10% of the
           principal amount the bank may ask you to increase your payments

These are just a few examples of mortgage products available in the USA. Please contact us for further details on each program

Maximum Age at Completion:

• There is no discrimination based on age as long as you qualify for the loan

Currencies Available:

• US Dollar mortgages
• Sterling mortgages are available in certain states

Prepayment Penalties:

• From 0% to 3%, depending upon product chosen

Bank Account:

• US bank account is required at time of funding of loan
• It can be set up from outside the country

Documentation required (minimum):

• Completed application form
• Passport copy
• Proof of down payment and closing costs
• Copy of Purchase Contract

Fees to consider:

• Fidentia Fee
• Off Shore bank arrangement fees if applicable
• Closing Costs