A mortgage loan? Cash payment? Both?

The payment method to use for the purchase of a property will depend on the amount of money you have available to invest, as well as your credit reputation. The budget you have will help you choose the area, the type of land and the dimensions of your new property.

There are mainly two methods of payment:

• Through a mortgage loan granted by a financial institution.
• Through a cash payment.

If your option is to buy using the cash method, then you know what budget you have. However, even with the money, it is always good to consider financing, which could help you buy a more valuable property.

However, if you do not reside in the United States and want to buy a property here, there is the possibility of applying for a mortgage loan, with an initial payment that usually ranges between 25% and 50% of the total price of the property, and an average interest rate of between 5% and 7% for a 30-year term.

For people who are residents or are American citizens, these numbers change abruptly because they could buy a property only by providing an initial amount of approximately 9% and in many cases closing costs are included.

Once you are clear on the payment method you want to use, cash or loan or even cash and loan, then we can talk about the budget. This will allow you to determine the zones and types of properties to which you could have access.

Robert Alarcon

My name is Robert Alarcon, and I am a Real Estate Broker in the Palm Beach County Area.  I have been a resident of West Palm Beach for thirteen years and have been working in the Cities of Lake Worth, Lantana, Boynton Beach, Palm Spring, Greenacres, Wellington, and West Palm Beach communities. As a Real Estate Agent, I fully dedicate myself to help people achieve their dreams of buying a new home or renting in these areas.  I also work with investors to get profitable properties as well as new constructions. 

 

At A21 Realty LLC, we dedicate our service to buyers, sellers, and renters to move quickly and effectively. 

 

It is my objective to satisfy the needs of my clients, supporting them during the process of buying, selling, or renting their property.

 

If you live in the Palm Beach County area and you are looking for dedication, trust, and loyalty, I am the right agent for you!