How to buy a property in Florida as an International buyer using financing

Ara Maysonet from Maysonet Acosta Team representing Premium Properties Real Estate Services had the opportunity to interview Mr. John Brock-Edgar (NMLS 335167) Director of International Mortgage Associates.

We share information about: Who is IMA and how long been around: Since 2007, although the changed name in 2013 to IMA How many LO’s: 4 LO’s including Mariano (Spanish and Portuguese speaker)

Specialize in FN lending: developed approximately 15 lenders Basic Criteria:

Loan types: -Second Home Purchase…..little of no rental -Investment Home Purchase…..little or no personal use, most clients fall into this category Underwriting styles: -Full Documentation, min 25% down, but most require 30% to 40% down, rates are impacted by the amount of down payment. Rates (depends on market conditions and could vary) Allow 45 to 55 days for the process.

Fully documented loan, cash sourcing, proof assets, proof liabilities, credit scores, credit references. -Stated Income: Minimum 30% down, again rates are impacted by the down payment, same as full doc, just no income verification. Rates (depends on market conditions and could vary). Allow 35 to 45 days for the process.

Can purchase in personal names or set up an LLC and buy the property through the LLC. -Lite Doc: from 30% down, ID and address verification, prove cash sourcing for the down payment and closing costs, that’s it. Rates (depends on market conditions and could vary) again rate is impacted by the amount of down payment. Allow 25 to 35 days for the process.

Can purchase in personal names or set up an LLC and purchase in the name of the LLC. Closing process: -Fly in to close at the Title company. -Mail Away closing: Normal Notary in the home country or Embassy closing Additional Considerations: Often overlooked! -Opening a US Bank Account -Transferring your money efficiently -Taxes

Maysonet-Acosta Team, we are real estate agents working in Dr. Phillips and Bay Hill in Orlando, Fl area. With our office located in the heart of Dr. Phillips, we offer to you the opportunity to visit your property for a pre-listing consultation and discuss our services and marketing strategies to get Sold Fast.

For more information contact Maysonet-Acosta Team at 407-906-7325 or visit our website www.maysonetacostateam.com | Premium Properties Real Estate Services | 407-757-2411 7521 W. Sand Lake Rd. Orlando FL 32819

John Brock-Edgar (NMLS 335167) Director International Mortgage Associates Cell: 407 953 9034 Office: 407 434 0699 http://www.internationalmortgageassociates.com