This article is part of a series where we show you step by step how to make your investment in Florida.

We have already shown you the first step to buying a property in Florida and how to deed a house in the United States.

In this article you will understand the advantages of buying a house in Florida in cash and whether it is possible to buy a house financed in the United States.

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Buying a financed home in Florida?

Is it possible for a foreigner to get a mortgage in the United States and in the face of this, one of the questions we receive most is how to prove income if there is no income on American soil?

For many years, American banks have used your income earned in your home country to analyze financing a property in Florida.

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Each buyer profile has a series of different documents that need to be presented and that the Broker who is advising you should inform you about.

Banks want to understand what your costs of living are, what your income is and for that they look at your bank statements for the last 2 years and your current accounts.

They calculate how much you get, how much you spend, and the difference they use as a basis to determine whether (or not) to approve funding and how much they will fund.

Starting that review process and having an approval letter in hand should be done before you even start visiting homes.

Since the amount the bank will finance, determines the price of the house you can buy.

Important you have in mind, that in the case of buying a new property directly with the builder, depending on the company, may be requested a letter of approval from a bank that they indicate.

In that case you need to submit for a new financing approval, but that it is a simple process, just submit the same documents used in the initial letter.

As an incentive for this, you are offered discounts on closing costs, which will help you invest a smaller amount than you were expecting.

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Buy a house in cash.

If you buy a property in cash, the process is much simpler.

You need to make a transfer of the full value of the property, at least two days before the scheduled deed date, to the tittle company account.

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The tittle company acts as the notary who will issue the negative certificate of the property, proving that there are no pending issues and that the house is fit to be sold.

It also makes the movement of money, ie, no amount is deposited directly into the account of the seller or the broker but the account of the notary.

The tittle company is who manages the payments to the seller and the Broker's commission.

And that only happens after the closing.

This step of the process makes buying a property in Florida even safer, both for the seller and the buyer.

Each form of payment for a property in Florida has particularities that need to be clear when you decide to make the purchase.

Therefore, being well advised will give you more security and certainty that your business will be closed in the most advantageous scenario for you.

We invite you to watch the video "Payment Methods - How to buy a FINANCED HOME IN FLORIDA? And in cash?"

Watch it on YouTube by clicking here:https://youtu.be/jGEM9ybSK8w

Get to know the YouTube channel: https://is.gd/canalnoyoutubedaselecta