A mortgage loan? Cash payment? Both?
Jorge Liloy
Jorge Liloy
The payment method to use for the purchase of a property will depend on the amount of money you have available to invest, as well as your credit reputation. The budget you have will help you choose the area, the type of land and the dimensions of your new property.
There are mainly two methods of payment:
If your option is to buy using the cash method, then you know what budget you have. However, even with the money, it is always good to consider financing, which could help you buy a more valuable property.
However, if you do not reside in the United States and want to buy a property here, there is the possibility of applying for a mortgage loan, with an initial payment that usually ranges between 25% and 50% of the total price of the property, and an average interest rate of between 5% and 7% for a 30-year term.
For people who are residents or are American citizens, these numbers change abruptly because they could buy a property only by providing an initial amount of approximately 9% and in many cases closing costs are included.
Once you are clear on the payment method you want to use, cash or loan or even cash and loan, then we can talk about the budget. This will allow you to determine the zones and types of properties to which you could have access.
I am a licensed real estate agent in the state of Florida # SL 3353102 since 2016 and with the designations E-PRO and MRP, I am associated with the Association of Realtors of Miami, as well as the Association of Agents of Broward, Palm Beaches and St. Lucie Real Estate. I work with local and international investors. My business is based on dedication, building customer trust, and I have the ability to adapt to all of their real estate needs. "As the real estate industry evolves to become more innovative and efficient, so am I." As a Florida resident for over 20 years, my knowledge of the region's geography can help you in all your residential real estate pursuits. In addition, I offer exceptional real estate services to make sure you feel confident in your decision to hire me. I have the 100% support of my team at LPT Realty, which is the most cutting-age company today. I believe in working hard with integrity to achieve your goals. All investors are welcome. LPT Realty is my broker and I am part of the most successful team in the United States. "The most complete team of knowledgeable agents in the United States." The LPT Realty Team utilizes the most comprehensive real estate education and training that aligns with the most modern customer service philosophy, applications and technology. One of my specialties is selling pre-construction developments to international and local clients for investments. I am bilingual growing with Spanish and English as my second language, married with two children. I focus on South Florida with the addition of Orlando, Tampa, West Palm Beach, Boca Raton and Jacksonville, FL.
Steps in the process of buying a property
In the modern era, the process of purchasing a resale property has evolved, but certain key steps remain fundamental. Here's a brief and simplified version to help you better understand the path to your new home.
The Real Estate Agent or REALTOR®
When embarking on the exciting journey of purchasing a property, having a real estate agent by your side becomes a crucial decision.
What do I need to know to get a mortgage loan?
Buying a house is an exciting step, but ensuring you get the best mortgage loan is crucial. Before diving in, consider these key points to make informed decisions.
