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We are now offering overseas mortgages in
association with Conti Financial Services. To submit your
requirements for Florida
property funding, please
Click
Here to Download Application Form, and return to us
using the details on our Contact
page.
Mortgages in the
USA
Basic financial facts
- Max 70% LTV
- Max term 40 years
- GBP36,200 minimum loan
- Repayment and Interest only mortgages
- 70% LTV US$ mortgage interest only from 4.35% p.a.,
fully documented (2 years tax returns)
- 65% LTV Self Cert mortgage from 6.875%
FAQ's
Do I qualify for a mortgage in the
USA?
To qualify for a mortgage in the USA, a calculation is used
to establish whether you can afford to maintain the mortgage
repayments.
How much can I borrow?
Calculation based on the valuation or purchase price,
whichever is the lower
Up to 70% of LTV available for house purchase, remortgage or
home improvements.
Based on joint Gross monthly income, where joint income is
applicable
Existing liabilities, e.g. mortgage or rental payments,
loans, credit card payments and maintenance are taken into
account, together with the proposed American mortgage
payments. All this must not exceed 38% of your monthly gross
income. American lenders may take up to 70% of any proposed
rental income into account with proof of leases
What evidence of income do I need?
If you are employed:
Your last three month's payslips
Your latest P60 and/or Employers Reference
Your last six month's personal bank statements
If you are self-employed:
Your last two year’s accounts & two years tax returns
Your last six month’s personal bank statements.
Example mortgage payments for US Dollar mortgage only:
If, for example, your gross joint monthly income is £2,500,
38% of this equates to £950. If your only liability is your
mortgage payment, of say £300 per month, this would leave a
balance of £650 for your American mortgage repayment
Example mortgage payments for Sterling & other currency
mortgages:
If, for example, your gross annual income is £100k per annum
we will use 5 x £100k, minus any existing mortgage/other
existing debts. For example, £100k per annum x 5 = £500k
minus existing mortgage borrowing of £75k & no other
existing debts, we could therefore lend £425k, subject to a
maximum 70% LTV.
What types of American mortgages are available?
Loans are available up to 70% of the property’s value.
The maximum term of any mortgage is 30 years, this varies on
the type of loan
Repayment and Interest Only mortgages are available
Mortgages are available in US dollars,
Sterling & other currencies - subject to your salary being
paid in that currency.
The minimum loan you can take out is $75,000
Please
Contact us for more details
of US mortgages, or for information on on
the various finance options available at our different
featured resorts.
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