Why invest in the United States:
Today the USA is one of the most attractive countries to invest in the world. The variety of its climate and its culture adds to its charm. The subprime crisis has a huge impact on supply and demand for real estate, triggering a massive drop in prices. The Federal Reserve’s stimulus plan has lowered interest rates. Consequently, investment in the USA is profitable due to a market in freefall, low mortgage rates, not to mention the strength of the euro against the dollar.
Mortgage in the USA:
- Non-residents: special programs have been put into place for non- residents with mortgages from 5% at a fixed or variable rate. Funding available up to 70% of the property value.
|Interest rate:||From 4% for non-residents|
|Minimum loan:||70 000 Dollars|
|Maximum age:||70 years old on the day of the last monthly payment|
|Type of mortgage:||Capital and loan, infine or interest only|
|Loan to Value:||Up to 70% of property value|
|Currency:||Mortgage in Euros, Pound Sterling, Dollars|
- The charges are principally for the seller.
- Registration charges: 35 Dollars per 100 000 Dollars + 0,2% of the mortgage
- "State documentary stamp tax on mortgages notes": 35 Dollars per 100 000 Dollars of the mortgage + "State intangible tax": 200 Dollars per 100 000 Dollars of the loan
- No solicitor charges
Documents to provide:
- Photocopy of passport or Identity card of each borrower
- Copy of sales agreement
- The two most recent tax notices (the last 3 for unemployed borrowers)
- The three most recent pay slips (employed workers) or the last three balance sheets (unemployed)
- Three of the most recent bank statements (from all accounts))
- loan and mortgage amortization schedule
- Rental receipt or lease
- Proof of contribution
- Proof of property ownership or property tax notice
- Employment contract
- Marriage certificate
- Divorce decree
- Proof of residence
- Bank details- opening a bank account in France for repayments
- Completed Credit International application form
- Signed terms and conditions of Credit International
- Crédit International will examine your project. This includes:
- Study of the feasibility of the project
- Evaluation of the amount to be borrowed
- An estimate of negotiable interest rates
- Signing the sales agreement: a contract that forms the agreement between the seller and the buyer of the property in question. As soon as the signature has been acquired, the seller has the right to ask for a deposit. In general, this deposit will not exceed 10% of the sale price.
- Mortgage request with Credit International: Setting up and deposit of application at Credit International. Principal agreement under one week. Releasing of funds after signing with a notary.
- Signing the title deed: definitive sale of property and release of funds. At this stage the buyer is entirely the owner of the property.