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Financing in Altamonte Springs : Real Estate Advice

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  • Local Info3
  • Home Buying36
  • Home Selling4
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Activity 5
Jennifer Fer…, Real Estate Pro in Fort Myers, FL
Sat May 24, 2014
Jennifer Ferri answered:

It is very difficult for foreign nationals to obtain financing. You would need to do a lot of calling around to find what meets your needs and satisfies theirs. Most foreign buyers use cash. Unless you find private monies to borrow.

Good Luck!
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Kevin Earnest, Real Estate Pro in Orlando, FL
Tue Jun 18, 2013
Kevin Earnest answered:
Hi Stacey,
I actually offer owner financing on homes in Orlando areas. We find, buy, rehab, then sell with owner financing. No lease option or other stuff. You actually own the house. We require 10% down.
Let me know if you are interested. You can email me at
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Tony Daka, Real Estate Pro in Lake Mary, FL
Wed Nov 14, 2012
Tony Daka answered:
Rudy McDowell, Real Estate Pro in Bloomfield Hills, MI
Wed Mar 30, 2011
Rudy McDowell answered:
Hi, Kate. For a Conventional/Fannie Mae loan, you can typically recive up to 5% of the total sale price as a gift. However, you must have a min of 5% of your own money vested as well. For FHA and VA, there are no limits, and even your 3.5% min down payment can be gifted. With regards to the tax free portion, that's a question best answered by you and your relatives accountant(s). ... more
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Randall Sand…, Real Estate Pro in Charleston, SC
Thu Dec 11, 2008
Randall Sandin answered:
Hi Mary - here is the very, very simple answer:

interest rate is the amount you pay each year to finance the loan
apr applies just to the first year and is the interest rate when you add in any points or fees from the lender

so on a 30 year fixed, apr is year one and interest is years two through 30

hope that makes sense!

Randall Sandin
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