The process of getting a Miami mortgage as a foreign national is practically similar to the one followed by a normal American resident.
The process usually starts with an initial consultation with a mortgage broker. This meeting can be accomplish in person or by phone. To speed up the mortgage process, you could prefer to have the necessary documents with you.
Once the several loan choices are studied and one is selected, we assist you fill out a mortgage application. After you complete the application, you need to provide us the necessary documentation.
After we get the needed information, we start getting a package ready to send to the underwriter (the individual who will authorize the mortgage.) We’ll order an appraisal of the home to ensure that the house it’s at least worth the value of the mortgage. In addition, we ask for a title research to make sure that you can obtain a clear title of the property when you sign on the papers.
After we have all the information, we send it to the underwriter, who will ensure that the information received is true. The underwriter will usually get in touch with your boss to proof employment or with your accountant if you are a company owner.
Once the underwriter approves the Miami mortgage, we’ll receive a letter with the exact terms of the mortgage and when we can plan to close the mortgage. As soon as we receive the approval, we send the entire documentation to the title company which is the firm charge of losing the loan.
The normal loan process varies depending on several different factors such as how quick you could provide the necessary documents or how simple is the case. However, you can plan to sign on your mortgage in under 4 weeks.
Obviously, we’ll guide you and advise you during the whole Miami home mortgage application process.
Please remember that we do this every day, and we are used to guiding individuals just like you on how to get a Miami mortgage in the United States.
