Financing
If you haven’t experienced it before, the home loan process can feel overwhelming, but I will help you stay informed throughout the process, from pre-approval to closing. The first thing to do is consult with a mortgage specialist (or two). If you don’t already have someone in mind, I partner with some of the best lenders in the industry, and I’d be happy to introduce you, so you’ll be taken care of.
Mortgage & Loan Process
- Financial pre-qualification or pre-approval
- Application and interview
- Buyer provides pertinent documentation including verification of employment
- Credit report is requested
- Appraisal scheduled for current home owned, if any 2.
- Underwriting
- Loan package is submitted to underwriter for approval
- Loan approval
- Parties are notified of approval
- Loan documents are completed and sent to title
- Title company
- Title exam, insurance and title survey conducted
- Borrowers come in for final signatures
- Funding
- Lender reviews the loan package
- Funds are transferred by wire
Why Pre-Qualify?
We recommend our buyers get pre-qualified before beginning their home search. Knowing exactly how much you can comfortably spend on a home reduces the potential frustration of looking at homes beyond your means.
Source: Keller Williams, Your Guide to Buying a Home
Financing Options and Resources
Industry Savings: Heroes Program
Our Agent offers a benefit for all Service Industry clients up to 10% or not to exceed a $1000 USD savings from net commission. Applies for: Firefighters, EMS, Law Enforcement, Military (Active, Reserve & Veterans), Healthcare Professionals and Teachers.
What is a Florida 1031 exchange?
“If you're a real estate buyer looking to maximize your investment returns and save on taxes, a 1031 exchange can be a valuable tool. By selling your investment property and using the proceeds to purchase another like-kind property, you can defer paying capital gains taxes and reinvest the full amount into a new property. But navigating the complex rules and timelines involved in a 1031 exchange can be challenging. That's where a professional realtor like Daniel Kracer can help. Daniel has extensive experience with 1031 exchanges and can guide you through the process, helping you identify suitable like-kind properties and ensuring that all the requirements are met. By working with Daniel Kracer, you can take advantage of the benefits of a 1031 exchange while minimizing the stress and uncertainty involved. Daniel's expertise and guidance can help you make the most of your real estate investment opportunities and achieve your financial goals.”
- Neil Bourdelaise, VP, First Street Home Loans
Foreigners Mortgage Loans
Whether you’re buying a home in the U.S. to live in or use as an investment property, certain private banks have the possibility to provide mortgage solutions for foreign nationals.
We would be happy to refer you to our trusted Loan Officer as each client is handled on a case by case basis.
Below are the requirements for obtaining a Foreigners Loan:
Option 1 - Simplified Version:
- County of origin passport up to date (not expired until the moment the transaction is closed)
- US Visa
- Residence address in country of origin
- Bank account is USA with funds for purchase (30% quote + 6% for closing fees)
- Funds must be in the account at least for 60 days
- Letter from a recognized bank where the client has had relations for credit for at least 2 years (our loan officer can provide a template letter so the bank executive can create as needed)
- Reserve funds (6 months of monthly income) The funds can be in the country of origin.
Option 2 - Extended Version:
- County of origin passport up to date (not expired until the moment the transaction is closed)
- US Visa
- Residence address in country of origin
- Bank account is USA with funds for purchase (30% quote + 6% for closing fees)
- Funds must be in the account at least for 60 days
- Letter from a recognized bank where the client has had relations for credit for at least 2 years (our loan officer can provide a template letter so the bank executive can create it as needed). This must be translated to English.
- Letter from a notary that can give proof and verify the client's annual income for the last 2 years. This must be translated to English.
- Bank statements for the last 2 months. Must be translated to English and converted to funds in Dollars.
- Reserve funds (6 months of monthly income) The funds can be in the country of origin.
All documents must be translated to English and funds converted to Dollars. The costs for translation are to be covered by the client and must be translated by an international certified institution for translations.
To get in contact with our preferred vendor you can contact us at danielkracer@gmail.com
