Hi my name is An Flamand, I’m the Broker at Orlando Vacation Realty. Today I would like to talk a little bit more in detail about the process of buying, especially to process of buying for Foreign Nationals.
I so often get asked, ‘What if I, as an international person, would like to purchase a house in Orlando or Central Florida? Can I obtain a mortgage?’. The answer is ‘yes’, you can obtain a mortgage when you are a foreign national. However, you need to meet the specific requirements. You have to know that the process will take 25-45 days – approximately. A mortgage will be around 30 years with the option of a 3 to 10 year fixed interest. The rates adjust every year. The down payment will be 30%, for a regular house, 35% for a condo or condo hotel. It all depends on the type of mortgage