How to Get a Miami Mortgage for a Foreigner

The process of getting a Miami mortgage as a foreign national is fairly similar to the one followed by a regular American citizen.

The process normally starts with an initial meeting with a mortgage broker. This reunion may be done in person or by telephone. To accelerate the mortgage process, you could want to have the necessary documentation ready.

Once the different mortgage choices are studied and one is selected, we assist you fill out a loan application. Once you complete the application, you need to give us the necessary documents.

After we receive the required documents, we begin preparing a package to send to the underwriter (the individual who will authorize the mortgage.) We will order an appraisal of the home to make sure that the property it’s at least worth the amount of the mortgage. In addition, we order a title report to ensure that you are going to obtain a clear title of the home when you sign on the loan.

Once we have all the documents, we send it to the underwriter, who will ensure that the data received is accurate. The underwriter will normally get in touch with your employer to verify employment or with your accountant if you are a company owner.

Once the underwriter approves the Miami loan, we’ll get a letter with the exact terms of the mortgage and when we might plan to close the mortgage. As soon as we get the approval, we send the entire package to the title company which is the business charge of doing the closing of the loan.

The usual loan process depends on several different factors such as how quick you can provide the necessary documentation or how clear is your case. Nevertheless, you can plan to sign on your loan in under 30 days.

Of course, we’ll guide you and advise you throughout the entire Miami mortgage application process.

Please remember that we do this on a daily basis, and we are used to guiding individuals just like you on how to obtain a Miami beach mortgage in the United States.