1st Capital Group
There was a time not too long ago when Canadians were able to choose their financing for US property from multitude of the lenders. Presently only a small number of the US lenders offer loans to foreign nationals. For many years Canadian citizens have been the number one buyer of USA real estate. Most of the purchases are condos and single family homes in the states with warmer climate. Popular markets for Canadians are South Florida, Arizona and parts of California. Many of the buyers (although not exclusively)
1st Capital Group LLC, a Florida mortgage company, thru its network of International and National lenders has been one of the few companies able to provide a professional consultation educating Canadian “Snowbirds”
Foreign National Mortgage Division is run by Mr. Brian Garrett, Operations Manager of the 1st Capital Group. Mr. Garrett states: “This year we are getting increasing number of inquiries from our Canadian clients for the 30% down payment second home foreign national mortgages where Loan to Value is at 70% LTV and the loans are not exceeding $417,000. The inquiries are closely followed by the clients from UK and Australia".
Mr. Garrett add's. "Since the beginning we have provided the best rates, terms and diversity of foreign national mortgage loan products to satisfy the needs of our clients. Conforming size foreign national loan programs have a fixed interest rate from 5.5% to 6.5% APR which is one the lowest rates ever for foreign nationals. Also, our website www.1st-CapitalGroup.com provides rich content of information’
Nick Lazarevic, CEO and founder of 1st Capital Group is not hiding his excitement about the number of inquiries they've been getting since the beginning of the year:
”I have been involved in foreign national mortgages many years and I learned that especially Canadians are the first to jump to an opportunity to purchase the real estate for probably the records low prices and position themselves for the years of affordable enjoyment in their second home or an above average return in case of investment property.”
Mr. Garrett goes further and explains one of the loan programs:
"Some of the programs feature are:
• 30% down payment
• 5.50% to 6.00% Interest Rates
• Term, 30 years fixed
• Loan amounts up to $417,000 (Jumbo loans up to $1.5M available)
• Up to 6% seller’s contribution allowed
• No prepayment penalty
• Closing in 30 to 40 days
Considering affordability of real estate and present currency exchange rate it seems one of the best time ever for Canadians and other foreigners to purchase the real estate in the United States”, Mr. Garrett concludes.
For more information or to schedule an interview for over the phone or in person consultation please call 1-954-357-3838 or email us info@1st-CapitalGroup.com, or you can visit our website at WWW.1ST-CAPITALGROUP.COM.
Photo:
http://www.prlog.org/
