With the large influx of Canadian and Foreign National buyers from around the world entering our marketplace here in Cape Coral / Fort Myers FL some potential buyers are finding out there are limited or no financing opportunites for foreign buyers.
I have great news for you... there are presently lenders in Cape Coral FL, specifically a local bank offering such financing for buyers interested in purchasing second homes, specifically single family residences. This loan product is not available for vacant land, condominiums, or multi-family investment properties.
This loan product requires you to make a 25% down payment and finance the remaining 75% of the purchase price.
Other necessary information and required documentation includes:
- Copy of Passport and Visa
- International credit report or four credit references from a utility company, credit card provider, mortgage holder or landlord, insurance company)
- Two bank reference and character letters
- Two months bank statements including all pages
- Verification of employment or letter from your accountant if self-employed covering two year period
- Six months reserves/payments plus adequate funds for mortgage payment to be held in a the institutions account with auto payment feature for mortgage payment
- No Escrows for Taxes and Insurance required
If you are interested in learning more information about this special loan program for Foreign National and Canadian buyers or information about a future purchase of real estate in the Cape Coral Fort Myers area please contact me today.
I can also provide specifics regarding property insurance and property taxes as they relate to foreign buyers.
Scott Slocum, REALTOR®
Licensed Real Estate Broker
Florida Future Realty Inc.
2816 Del Prado Blvd South, Unit 2
Cape Coral FL, 33904
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