International Tourists Gain Financing.
An international traveler can soak in the sights of sunny Orlando, Florida and shop for a vacation home for that return trip. Owning a set vacation home definitely reduces the pressure to take in every sight on every trip! Most international tourists fail to understand that they can get financing for their own place near Orlando’s attractions. They mistakenly assume that home financing in the United States is not possible for foreign nationals.
United States Residency Does Not Matter.
In the Orlando market, however, there are still banks offering loans to residents of other countries. Contrary to common misconceptions, not all mortgage lenders require local, or even, United States based residency. Qualified overseas vacationers in Orlando are perfectly eligible to finance a real estate purchase. The property bought could be a full-fledged vacation home. Another popular choice is a vacation condo where the exterior upkeep is handled year-round.
Healthy Finances, Not Work Permits, Make the Difference.
With a strong balance sheet and a 25% down payment, a work permit is not even needed. Of course, like U.S. buyers, someone from abroad must be able to provide some way to verify earnings. Proof of income back in the homeland plays a crucial role in beefing up any vacation home mortgage application.
Not too surprisingly, interest rates range a bit higher for foreign nationals. However, at today’s historic lows, even the slightly higher rates remain quite competitive.
We Are Here to Help!
No matter where you call home, we can start you on the path to enjoying Orlando again and again with your very own private vacation place. If you need more information on obtaining financing for a beautiful vacation home or condo in Orlando, contact us today!
Now is a great time to buy that vacation home, investment property or primary residence in the Disney area. Of course, we are here and ready to help you take advantage of this great opportunity.