1st Capital Group

August 4, 2010

No Doc Overseas Mortgages in Florida for foreign nationals, UK citizens & Canadian citizens

Filed under: Uncategorized — Tags: mortgages, no doc, overseas — admin @ 8:50 pm

Totally no documentation required Florida Mortgage Loan program for international borrowers by 1^st Capital Group LLC.

For a long time our foreign national clients who could not qualify for a full doc mortgage in Florida were
without a reasonable mortgage options for their property purchase or refinance. We realized that many of clients falling out of regular loan parameters were British or Canadian citizens or residents. Our new mortgage loan program is geared primarily towards British expats, Canadian and other foreign national buyers purchasing properties in the state of Florida. No income verification is required, no credit history report is required and no seasoning of funds is required. Any of regular mortgage guidelines do not apply.

“No Doc Overseas Mortgages” Florida loan program is based exclusively on collateral and not on the
buyer’s personal qualification for the loan. Down payment’s starts at 30% and fixed interest rates at
8.95%APR. For a quote or more information please visit our website www.1st-capitalgroup.com or call
+1-954-357-3838.

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July 7, 2010

Overseas Mortgages. Record low 3.75% interest rates for U.S.A. mortgages. Low rates International Mortgages.

Filed under: Uncategorized — Tags: interest, international, low, mortgage, overseas, rate, US — admin @ 10:37 pm

US mortgage specialist announces the lowest ever rates for overseas mortgages in US. Overseas mortgages for affordable holiday and investment homes in the USA.

If you are flying to US for holidays this summer you will be pleasantly surprise and relived that you’ll get a little more bang for your cash as you could just a four weeks ago. Indeed today’s exchange rate for pound reached $1.52 and euro $1.26 with forecast of US dollar depreciation against most major currencies throughout a summer. When it comes to a holiday homes or investment homes buyers, the latest drop of US interest rates will add the additional mileage.

1st Capital Group a US mortgage specialist working with overseas buyers has announced it’s lowest ever interest rates for 30 years amortized mortgage loan in USA. Adjustable rate mortgages for international buyers have dropped to a record low of 3.75% and fixed rate to a record low of 4.875%.

Mr. Nick Lazarevic a 1st Capital Group managing broker says:

“It has never been cheaper to own a dream vacation/investment home. Record low interest rates in combination with a record low real estate prices in the US makes this a unique opportunity to own that dream home that will turn into a dream investment opportunity as well.”

Mr. Lazarevic goes further to say: “Contrary to belief that just getting an pre-approval for US mortgage is a complicated and time consuming process, I can assure potential overseas borrowers that their eligibility and qualification for the mortgage can rather be easily determined within minutes by completing 1st Capital Group’s FREE PRE-APPROVAL online application. The free pre-approval application can be found on “APPLY NOW” page of our website www.1st-capitalgroup.com ”.

1st Capital Group notes several differences between European and American mortgages:

1. Maximum amortization term in US is 30 years, rather than the maximum of 25 years offered in many European countries.

2. International borrowers in US can easily obtain loans of up to $1.5M US dollars with 30% to 40% down.

3. In most cases US mortgages do not require prepayment (redemption) penalty. The loan can be paid off or accelerated by adding extra payments towards principal balance at any time.

4. No credit history report required for international borrowers in USA.

5. When it comes to qualification no Tax Returns required for international borrowers in USA. The employment letter provided by borrower’s accountant or employer is enough.

6. Lending based on the age of borrower is considered a discrimination and is illegal in US. The international borrower can be 75 years old and still be able to obtain approval for 30 years loan.

7. Most of the US real estate transactions are subject to financing. International borrowers will not lose their earnest money deposit by not being able to secure financing.

8. In comparison with some countries buying any US property is safe as the buyer is protected by the title insurance.

Mr. Brian Garrett general manager of the 1st Capital Group does not hide his satisfaction with record low interest rates and real estate prices. He states: “US has been a favorite destination for foreign national buyers for many years and for good reason, “more bang for the buck”. Nicely located 3/2 single family residence (house) with swimming pool in sunny Florida can cost less than a $100,000 USD, a beautiful 3/2 cottage in a picturesque Blue Ridge mountains $75,000 and you get idea”.

For more information or to set up an appointment with 1st Capital Group mortgage specialist please call + 1 954 357-3838 or email to info@1st-capitalgroup.com.

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June 18, 2010

US Vacation Home Purchase and Mortgage options for UK Citizens

Filed under: Uncategorized — Tags: citizens, Florida, foreign, homes, mortgage, national, residents, sale, UK, US — admin @ 10:15 am

Florida has been for a long time one of the top overseas destinations for the British vacationers. Almost every UK family I came across in the last few years started getting interested in buying a vacation home, after realizing how large and disproportionate devaluation of the Florida real estate is in comparison with devaluation of the real estate in most European countries. Many of us want vacation home or possible rental home that will be not only enjoyable but a good long term investment as well. With the right mix of extremely low prices and low interest rates it seems this may be the right time to look at available purchase and finance options for that perfect vacation/rental home. This morning after looking at British pound start recovering after a long slump ($1.4809 USD today) I started thinking about writing this blog and informing our potential clients what it takes and how to go about realizing their desire to own a Sunshine State home.

I realized that most of the prospective UK buyers would quickly arrive to geographical location where they would like to own a secondary home. Even though we are a mortgage company as a courtesy to our clients we at 1st Capital Group provide live access to the MLS Listing of all homes for sale in the entire state of Florida. Please visit our website www.1st-capitalgroup.com if you want to search for up to date listings of homes for sale. If you are not a cash buyer as the most of us the second part of the process is to look financing company. You may have heard from the other British expats how it is almost next to impossible to get financing for the US property. I am here to tell you that although there are a very few choices for foreign nationals financing, options do exist and criteria is still less stringent than in many European countries.

We at 1st Capital Group still offer foreign national mortgages. Our best international mortgage loan program requires 30% down payment, with the fixed interest rates starting at 4.875% and loan amounts going up to $1.5M US dollars.

Here are some of the loan program details:

o Minimum 30% down Payment
o 4.875% to 5.50% fixed interest rate,
o 3.875% to 4.875% adjustable (variable) interest rate,
o Fixed Term, 30 years, 15 years, 10 years,
o Adjustable Term, 3/1, 5/1, 7/1 ARM
o Loan amounts up to $417,000 USD (We have a Jumbo Loan option up to $1.5M)
o We have a Super Jumbo Loan option of up to $50M USD
o No prepayment penalty
o Credit History Report not required
o 6 months of payment reserves (PITI) required
o Up to 6% seller contribution towards buyers closing cost allowed
o 1 unit single family residential property eligible
o Condos eligible only if FANNIE MAE approved or 70% sold and closed and conform to other FANNIE MAE guidelines
o 3 Weeks for underwriting
o Closing on average 30 to 45 days

Our loan program allows the buyers closing/legal cost to be negotiated and paid by the seller. We still offer totally Free Pre-Approvals with no strings attached. You can find out if you are eligible and qualified for the US mortgage by visiting by visiting our website www.1st-capitalgroup.com and filling out our online FREE PRE-APPROVAL form. With the information provided we can prequalify you and issue our official free pre-approval letter required when making an offer on the US property. This is a free service courtesy of 1st Capital Group available regardless if you end up choosing another mortgage company.

To all our potential British clients, good luck with your vacation home hunting and please do not hesitate to contact us with any questions you may have.

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June 11, 2010

How to buy your dream home?

Filed under: Uncategorized — admin @ 12:22 am

Dreaming about a second/vacation home in the US that will turn to be a profitable long term investment for you and your family? If so you are hardly the only one. Lately our office has been receiving a large and increasing number of calls from client’s worldwide inquiring about US properties and the ways to finance them.

There is a lot of confusion. Many of us know how much we can spend for a home but is it possible to obtain the US mortgage if you are a foreigner? What are the best states to purchase a second home? Who can help with financing for the purchase?

I have been a pioneer in foreign national mortgages in the US for a long time and I am always glad to answer those questions. I always liked to work with international clients and above all it is part of my job to make sure potential clients understand their options. My first advice to the potential client is to go to my website www.1st-capitalgroup.com open and fill out our FREE PRE-APPROVAL page. With that I can confirm client’s eligibility nd qualification for foreign national mortgage in the US. Once we know how much you can afford and what mortgage terms, interest rate and payments are the rest is easy. Now days answer can be a click away. Most of us use the computers on a daily basis. So my advice is, take your time search for the property in the state you desire. If it happens to be Florida you can search live MLS listings for the entire Florida right from my website. If different state www.realtor.com can be a good starting point as they have over 3 million listings.
After you get idea what is available for the particular geographical area, the next step would be to find yourself a good real estate agent. If you do not know who to chose, I can help you with that as well. My mortgage company works with a lot of professional realtors nationwide as we do mortgages for their clients. In the US it is customary for the seller to pay for the real estate agent services at closing. You will not incur any expense for the service of a good agent that’ll work for you and negotiate the purchase price on your behalf.
Lastly, if you end up chosing us, you should work closely with my office in providing us with all required documentation for the mortgage prior to submitting an offer on the property as it will greatly help us expedite the entire mortgage process.
Good luck in your dream home hunting and do not hesitate to contact Nick Lazarevic at 1-954-357-3838 or info@1st-capitalgroup.com should you have any questions or concerns.

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