Florida bank home loans are available for citizens of Russian Federation

FORT LAUDERDALE -- Bank mortgage loans in Florida are again being offered to citizens of the Russian Federation who want to buy a vacation home or make an investment in Florida.

It is not difficult for Russian citizens to buy a home in the USA. The application and approval process are clear and simple. Mortgages can be obtained by Russians with a deposit of 30% of the loan for up to $1,000,000 USD.

Documents are required.

• Copy of Passport (You must be legally able to enter the U.S.)
• Proof of funds sufficient to cover downpayment, closing costs (3% to 5% of purchase price) and six months payment in reserve.
• Funds must be deposited in a U.S. bank.
• Up to 3 credit reference letters
• Proof of income
  Open a U.S. bank account and establish an activity record. A Propeum lawyer can open a checking account for you, or create an escrow account.

The buying process

When mortgage loan officers consider your application they will consider your income and debts, your employment and residence situations, your available funds for down payment and required reserves. they use this information to pre-qualify you for a loan.

Once you qualify, you receive a pre-qualification letter which says that the bank is working with you to find the best loan to meet your needs and that the bank is confident you will qualify for a loan for a stated amount.

When you find the home of your dreams, you make an offer to buy it.  Because you are pre-qualified you know how much you can offer. Your real estate agent will help you decide on an appropriate offer.

Know that the home is priced correctly

Homes must be inspected by licensed real estate appraisers. A written appraisal (opinion of value) is provided to you before closing the purchase agreement.

Managing vacation property from overseas

The Propeum team in Florida can recommend property management companies that maintain your property.