A Miami Mortgage for a Foreigner
The process to obtain a Miami mortgage as a foreign national is fairly equal to the one followed by a normal American resident.
The process usually starts with an initial consultation with a mortgage lender. This meeting can be accomplish in person or by phone. To accelerate the loan process, you may prefer to have the needed documents ready.
Once the different loan choices are looked at and one is chosen, we help you fill out a mortgage application. After you fill the application, you have to provide us the needed documents.
Once we receive the needed information, we start getting a package ready to send to the underwriter (the person who will authorize the loan.) We’ll order an appraisal of the property to ensure that the property it is at least worth the amount of the loan. In addition, we ask for a title research to ensure that you can get a clear title of the property when you sign on the loan.
Once we have all the information, we ship it to the underwriter, who will ensure that the data received is true. The underwriter will usually contact your boss to verify employment or with your accountant if you are a business owner.
Once the underwriter authorizes the Miami mortgage, we’ll receive a letter with the final conditions of the loan and when we might expect to close the mortgage. As soon as we get the approval, we send the entire package to the title company which is the firm charge of losing the loan.
The usual mortgage process varies depending on several different conditions such as how fast you can give us the needed documents or how simple is the case. Nevertheless, you can expect to close your loan in under 4 weeks.
Obviously, we will assist you and advise you during the entire Miami mortgage application process.
Please keep in mind that we do this every day, and we are used to advising people just like you on how to get a Miami mortgage in the United States.
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