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The increase in Brazilian investors in the Orlando region has been happening since 2008, which is why many American banks have specialized in specific credit lines for foreigners, particularly Brazilians. Real estate broker Eduardo Pavone, who has been working in the United States for 12 years, explains that Brazilians can buy a house in Orlando with financing starting from a 25% down payment, interest rates in the range of 7% per year, and the remaining balance paid over 30 years.
"With credit information from Brazil, income tax documents, a letter from an accountant verifying income, or bank statements, it's possible to get financing approved here in the United States for purchasing a house. They have a minimum financiable value limit, meaning we can say that a $300,000 house can be financed with a 25% down payment," Pavone explains.
The broker alerts that values below $300,000 are not preferred by all banks for financing, but there is no maximum financing limit, and there are no age restrictions for financing. A person who is 70, 80 years old or even older can have financing approved for 30 years.
"These banks, as they specialize in serving our Brazilian audience, understand that it's important for the property title to be in the name of a company here in Florida, in which Brazilian partners have been evaluated and approved by the financing bank. This way, they protect and shield the Brazilian's asset, who is dollarizing their investment here in Orlando," says the broker.
The property acquired in Orlando can be used in various ways, both for residential purposes and for annual rental investment. Additionally, it's possible to use it as a vacation home investment, which can be rented for short periods and used with your family.
"There are banks where the interest rates range from 7% to 10% per year, which might seem quite high at first. But if we go back to the years 2013, 2014, Brazilian foreigners were buying with interest rates of 5.8%. We got used to the period of the pandemic when interest rates for foreigners even dropped to 4.5%. But we know that this scenario will never return. There's no reason to refrain from realizing your dream or globalizing your assets by purchasing a property in Orlando. Remember that a significant portion of the expenses, both fixed and financing, can be covered by the property's own rental income. And if it's a seasonal property, you can enjoy it along with your family," Pavone affirms.
