A mortgage loan? Cash payment? Both?
Diana Perez
Diana Perez
The payment method to use for the purchase of a property will depend on the amount of money you have available to invest, as well as your credit reputation. The budget you have will help you choose the area, the type of land and the dimensions of your new property.
There are mainly two methods of payment:
If your option is to buy using the cash method, then you know what budget you have. However, even with the money, it is always good to consider financing, which could help you buy a more valuable property.
However, if you do not reside in the United States and want to buy a property here, there is the possibility of applying for a mortgage loan, with an initial payment that usually ranges between 25% and 50% of the total price of the property, and an average interest rate of between 5% and 7% for a 30-year term.
For people who are residents or are American citizens, these numbers change abruptly because they could buy a property only by providing an initial amount of approximately 9% and in many cases closing costs are included.
Once you are clear on the payment method you want to use, cash or loan or even cash and loan, then we can talk about the budget. This will allow you to determine the zones and types of properties to which you could have access.
I am a Colombian, technologist, and professional publicist, I have studied tax preparation and notary service in the United States, I moved to Miami 22 years ago and I thank God every day for the opportunity of being here.
I have enjoyed working in sales since a young age. After completing my studies, I decided to embark on establishing my own business which initially operated out of my home. But quickly, I found the need to move my business to a separate space as required by the demand growth.
As an entrepreneurial woman, I learned the value of dedication, hard work, consistency, transparency, respect, and care for my customers.
I have been developing professionally in the Real Estate world for several years, an area that I am deeply passionate about, from residential to commercial property. We have a great team made up of lenders, title companies, credit repair, and myself. We will provide you with the best advice whether you are an investor, first-time, or second-time buyer. We will be your team and be there for you every day 24/7 while we strive to get you the best interest rates and programs that best suit your needs. Whether it is a new purchase, sale, rent, flipping, auctions, or more, we guarantee a professional and transparent service. Your satisfaction is our greatest reward. We want to be part of your dreams. Let us accompany you throughout the process.
What do I need to know to get a mortgage loan?
Buying a house is an exciting step, but ensuring you get the best mortgage loan is crucial. Before diving in, consider these key points to make informed decisions.
What are the costs involved in purchasing a house?
The decision to buy a house can be exciting, but it also comes with the responsibility of understanding the various associated expenses. Here, we present a modern perspective on the essential costs you should consider.
What is the difference between Real Estate Agents, REALTORS® and Brokers?
When you embark on the exciting journey of buying or selling a home, you'll encounter professionals who play key roles in this process. Among them, it's common to come across real estate agents, REALTORS®, and brokers.
