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Florida Property Q & A - Trulia Voices Question 11
Below is a question raised by a prospective buyer, owner or seller of Florida property and the advice we were able to give:
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- Question:
I am an American citizen living and working abroad. I am interested in investing in a short term rental property near the Orlando theme parks. If I put 30-35% cash as a down payment, would it be possible to get a mortgage for the remainder?
- Answer:
Short term rental financing is very different than in previous years and, right now, very volatile - progams available today are gone tomorrow. So please understand that any advice is subject to rapid change (and these days, subject to your own circumstances - income level, assets and liabilities, in some cases even the type and location of property you're buying).
Having said all of that, your target of a 65% to 70% loan should be feasible.
If you need any further information, please just e-mail me.
This is only one of many questions we've answered about Florida property. For free help and guidance tailored to your own individual plans relating to Florida real estate, please visit our Florida property website. |
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