A mortgage loan? Cash payment? Both?
Serrano & Associates
Serrano & Associates
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.
At Serrano & Associates, we are dedicated to one goal: delivering exceptional customer service and results to our clients. Based on the principle that real estate is inherently local, Serrano & Associates Real Estate is a boutique, real estate firm specializing in providing its clients with top-notch real estate services focused in South Florida. By bringing together qualified and experienced professionals under a single firm, we’re able to offer specialized real estate expertise and services, all supported by the strength and resources of a team focused on you! This has helped us to become a trusted partner to assist clients in reaching their dreams and finding their home. Whether clients are looking to buy, sell, rent or invest in residential or commercial real estate
Estela Serrano is currently the Broker and Real Estate professional and founder of Serrano & Associates Real Estate, LLC. Estela has been in the real estate and development industry for the last 24 years, selling millions of dollars in luxury residential and commercial real estate throughout the United States, South America, Central America and Europe. Her knowledge and charisma have allowed her to work in the European, Latin and American markets.
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