Frequently Asked Questions

Yes, Colombian citizens can purchase property in Florida without needing a U.S. visa. Home Financial Group has over 20 years of experience helping buyers from Colombia and other Latin American countries obtain mortgage financing in Florida. You only need your valid Colombian passport, 12 to 24 months of bank statements, proof of income, and a minimum down payment of 30%. No Social Security number or U.S. credit history is required. Call us at (954) 370-4849 for a free consultation in Spanish or English.

No, you do not need a Social Security Number to get a mortgage as a foreign buyer in Florida. The Foreign National Mortgage programs offered by Home Financial Group are specifically designed for people without an SSN. The lenders we work with evaluate your financial profile using documents from your home country, such as bank statements, proof of income, and international credit references. If you have an ITIN (Individual Taxpayer Identification Number), there are also special programs available with favorable terms.

Yes, the lenders Home Financial Group works with accept bank statements from recognized Latin American banks, including Bancolombia, Banco de Bogotá, Davivienda, Banesco, Banco Mercantil, Banco Nación, Banco Galicia, Santander, Banamex, BBVA, Itaú, Bradesco, and many more. Statements must cover the last 12 to 24 months and show a consistent history of deposits and income. If your statements are in Spanish or Portuguese, no certified translation is needed — our bilingual team reviews them directly.

Yes, you can send your down payment funds from your home country to a U.S. bank account via international wire transfer. The funds must come from an account in your name with a documented history — lenders will require source-of-funds documentation through bank statements showing where the money originates. Home Financial Group can recommend banks in South Florida with international banking departments that facilitate receiving transfers from Latin America, Europe, and other regions.

The minimum down payment for buyers from most Latin American countries is 30% of the purchase price for single-family homes and 35% for condominiums. This applies to citizens from Colombia, Venezuela, Argentina, Ecuador, Peru, Mexico, Chile, Brazil, and most countries in the region. Buyers with U.S. work visas (H1B, L1) may qualify for lower down payments starting at 25%. Medardo F. Cevallos will provide exact figures for your specific situation during the free initial consultation.

The basic documents you need are: a valid passport, 12 to 24 months of bank statements, proof of income (employment letter, home-country tax returns, or business financials if self-employed), a reference letter from your primary bank, and proof of sufficient funds for the down payment and reserves. Depending on your country of origin, additional documents such as an international credit report may be required. Home Financial Group provides a personalized document checklist from the very first consultation so there are no surprises during the process.

Not having a U.S. credit history does not prevent you from getting a mortgage in Florida. The Foreign National Mortgage programs handled by Home Financial Group are designed for international buyers who have never had credit in the U.S. Instead of a FICO score, lenders accept credit references from your home country — such as a letter from your bank confirming good payment history, or a report from an international credit bureau. Medardo F. Cevallos, with over 20 years of experience, knows exactly which alternatives lenders accept for each country.

Yes, many lenders accept reports from international credit agencies as an alternative to U.S. credit history. Home Financial Group regularly works with reports from DataCrédito and TransUnion Colombia, Buró de Crédito and Círculo de Crédito from Mexico, Serasa Experian and SPC from Brazil, BCRA from Argentina, Equifax Central America, and similar agencies in other countries. If your country does not have a formal credit agency, or if you prefer not to use that report, bank reference letters are a valid alternative that most of our lenders accept.

You do not need a U.S. bank account to start the application process, but you will need one before closing to receive funds and complete the transaction. Home Financial Group can recommend banks in South Florida with international banking departments that serve clients from Latin America, Europe, and other regions, facilitating account opening even remotely in some cases. Many of our clients open their account during the pre-approval process, which provides ample time.

The complete process from application to closing typically takes between 21 and 30 days, a timeline comparable to a domestic U.S. mortgage. The key to meeting this timeline is having all your documents ready from the start. Home Financial Group provides a personalized document checklist at the first consultation and guides you step by step to avoid delays. Over 20 years and more than 1,000 international closings, Medardo F. Cevallos has refined a process that eliminates the common delays other brokers experience with foreign buyers.

Yes, it is possible to close on your Florida property without being physically present in the United States. Home Financial Group offers remote closing options where you can sign documents before a notary in your home country or at a U.S. consulate. A Power of Attorney can also be established so that an authorized representative signs on your behalf on closing day. Medardo F. Cevallos coordinates the entire process with the title company and lender to ensure the remote closing is as smooth as an in-person one.

The process with Home Financial Group has six clear steps. First, you contact Medardo F. Cevallos at (954) 370-4849 for a free consultation where your situation is evaluated. Second, our team reviews your financial profile, country of origin, and documentation to determine your best loan options. Third, you gather documents according to the personalized checklist we provide. Fourth, the formal application is submitted to the lender with the complete package. Fifth, the loan goes through underwriting where the lender verifies everything and issues approval. Sixth, closing is scheduled — in person or remotely — and you receive the keys to your Florida property.

Home Financial Group's foreign national mortgage programs cover the entire state of Florida with no geographic restrictions. The most popular areas among international buyers are Miami and Miami Beach, Fort Lauderdale and Broward County, Boca Raton and Palm Beach, West Palm Beach, Orlando and surrounding areas, Tampa and St. Petersburg, and Naples on the west coast. Whether you are looking for an investment apartment in Brickell, a family home in Weston, a vacation property in Orlando near the theme parks, or a beachfront condo in Fort Lauderdale, Home Financial Group has experience financing properties in all of these areas.

If your initial application is denied by one lender, that does not mean you cannot obtain financing. Home Financial Group works with a curated network of lenders specializing in international buyers, and each has different criteria. What one lender denies, another may approve. Medardo F. Cevallos, with over 20 years of experience and more than 1,000 international closings, knows the specifics of each lender and can identify the best option for your particular profile. Additionally, if the denial is due to incomplete or insufficient documentation, our team guides you to strengthen your application before resubmitting.

Absolutely. There is no legal requirement to have a U.S. visa to purchase property in Florida. Home Financial Group has a specific program for no-visa buyers that allows citizens from over 60 countries to acquire properties as investments or vacation homes. You only need your valid passport, bank statements, proof of income, and the corresponding down payment. Thousands of buyers from Colombia, Venezuela, Argentina, Brazil, Mexico, Ecuador, and other countries have purchased Florida properties without a U.S. visa, and Home Financial Group has facilitated the financing for over 1,000 of these transactions.

Virtually all visa types qualify for a mortgage in Florida through Home Financial Group. This includes B1/B2 tourist visas, H1B work visas, L1 intracompany transfer visas, E2 treaty investor visas, EB-5 immigrant investor visas, TN professional visas under USMCA, and ITIN holders without a visa. Terms and minimum down payments vary by visa type — for example, H1B and L1 work visa holders generally access the best terms with down payments starting at 25%, while no-visa buyers require a minimum of 30%.

An ITIN loan is a mortgage program designed for individuals who have an Individual Taxpayer Identification Number (ITIN) but no Social Security Number. This type of loan is ideal for buyers who live and work in the United States without permanent residency and who have filed tax returns with their ITIN. Typical requirements include a 25% to 30% down payment, two years of tax returns filed with the ITIN, recent bank statements, and proof of stable employment or income. Home Financial Group has helped hundreds of ITIN clients obtain financing for their first home in Florida.

Yes, purchasing through a U.S.-based LLC (Limited Liability Company) is a very common practice among foreign buyers and can provide significant liability protection and tax planning benefits. Home Financial Group regularly works with buyers who acquire properties as individuals, through LLCs, or through trust structures. A Florida real estate attorney can set up the LLC quickly, and Medardo F. Cevallos can recommend attorneys experienced in structuring purchases for international investors.

A Foreign National Mortgage is a mortgage product designed specifically for non-U.S. citizens who want to purchase property in the United States. Unlike a conventional mortgage, this type of loan does not require a Social Security Number, U.S. credit history, or permanent residency. Lenders evaluate the application using documentation from the buyer's home country — bank statements, international credit references, and proof of income. Home Financial Group has specialized exclusively in this type of mortgage for over 20 years, having closed more than 1,000 loans for buyers from over 60 countries.

Closing costs in Florida typically represent between 2% and 4% of the property's purchase price. These costs include lender fees (loan origination), title insurance, county recording fees, prorated property taxes, homeowner's insurance, and closing attorney fees. In addition to closing costs, lenders require that you demonstrate liquid reserves equivalent to 6 to 12 months of mortgage payments after closing. Medardo F. Cevallos provides a detailed estimate of all costs during the pre-qualification process.

FIRPTA (Foreign Investment in Real Property Tax Act) is a U.S. federal law that requires withholding a percentage of the sale price when a foreign property owner sells real estate. Currently, the withholding is 15% of the gross sale price. This is not an additional tax but rather an advance payment on capital gains that is reconciled when filing a federal tax return. FIRPTA does not apply when you purchase — only when you sell the property in the future. A CPA specializing in international taxes can help you plan your ownership structure to optimize your tax situation, and Home Financial Group can refer you to professionals experienced in this area.

Property taxes in Florida are exactly the same for foreign owners and U.S. citizens — there are no surcharges for being a foreign national. The rate varies by county, but in South Florida it averages between 1.0% and 1.5% of the property's assessed value annually. An important advantage of Florida is that it has no state income tax, making it one of the most tax-favorable states for international investors. Property taxes are paid annually and are generally included in the monthly mortgage payment through an escrow account.

No, homeowner's insurance rates in Florida are the same regardless of your citizenship or immigration status. However, it is important to know that insurance costs in Florida have increased in recent years due to hurricane risk, averaging approximately 1.5% to 2% of the home's value annually. If the property is located in a FEMA-designated flood zone, additional flood insurance will be required. Home Financial Group can connect you with insurance agents in South Florida who have experience working with international property owners.

Yes, many international buyers purchase Florida properties specifically to generate rental income, whether through long-term (annual) rentals or short-term vacation rentals. South Florida has consistently high rental demand, especially in areas like Miami, Fort Lauderdale, and Orlando. Rental income can cover a significant portion or even all of the monthly mortgage payment. It is important to verify local short-term rental regulations, as they vary by city and condominium. A local property manager can handle tenants, maintenance, and rent collection while you are in your home country.

Purchasing Florida property through an LLC offers several key benefits for foreign investors. First, liability protection — the LLC separates your personal assets from the property, limiting your legal exposure. Second, tax planning — an LLC can help optimize tax treatment in both the United States and your home country, and can reduce the impact of FIRPTA when you sell. Third, privacy — the property is registered under the LLC's name, not your personal name. Fourth, ease of transfer — selling the LLC is simpler than transferring the property title directly. Home Financial Group regularly works with buyers who purchase through LLCs and can refer you to specialized attorneys in Florida.

Florida has remained one of the world's most attractive real estate markets for international investors for several fundamental reasons. The state has no state income tax, has a diversified and growing economy, receives domestic migration from other U.S. states that drives housing demand, and offers an attractive lifestyle with warm weather year-round. South Florida in particular — Miami, Fort Lauderdale, Boca Raton, West Palm Beach — has seen sustained property value appreciation. Home Financial Group has been helping international buyers invest in this market for over 20 years and can guide you on the areas with the greatest potential based on your budget and goals.

Yes, foreign property owners can refinance their Florida mortgage after an initial period, typically 6 to 12 months after the original closing. Refinancing can be useful for obtaining a lower interest rate, changing the loan terms, or accessing accumulated equity in the property through a cash-out refinance. Requirements for refinancing are similar to the original mortgage — updated bank statements, proof of income, and a good payment history on the current mortgage. Medardo F. Cevallos helps his clients not only with the initial purchase but also with refinancing when market conditions are favorable.

You can contact Home Financial Group in several ways to start your process. The most direct way is to call Medardo F. Cevallos at (954) 370-4849 — he answers personally in English and Spanish and offers a completely free initial consultation. You can also send a message through our website contact form or visit us at our office at 4303 NE 1st Terrace, Oakland Park, FL 33334, Monday through Friday from 9 AM to 6 PM Eastern Time. During the initial consultation, Medardo will evaluate your situation, explain your financing options, and provide a personalized document checklist so you can move forward immediately.