Investor · Vista, CA · Member since 2015 · 163 posts · 58 votes
OK, so it's not international but I may be moving there for work and would be interested in purchasing a SFH or MFH to house-hack. May furnish part of it and Air BnB. Can I get conventional financing in PR? FHA? Any input would be helpful -
I just came from PR a couple of months ago. I went there to check on a few properties to use as a vacation rental as well. Although I didn't close a deal this time, I checked with a few lenders in the US and none of them do loans for PR. You are better off working with a local bank there, but the goods news is that you can take advantage of your income in the US and the interest rates are almost the same. I got pre- qualified from one called Fembi Mortgage, I went to their offices and they seemed legit, but there is also Oriental Bank and Banco Popular. It's good time to buy there, just watch out cause they are about to default on the creditors pretty soon and that may leave their economy tumbling for a while. But as some say; "where there is crises there is opportunity". Where in PR are you thinking about buying?
I am from PR and the answer is yes, you can do conventional loans and FHA. I have been thinking about investing in the west coast.
Thats good news. Thanks. Now looking for a realtor and mortgage broker. Do you if brokers on the mainland can do loans for PR?
Thanks
Zach
@zach Adams, There's great options for mortage loans. I'll be be more than happy to recommend some & if you still need help in locating a property or future investment I Could help too!
@Alexander Castro do you know of any sites that offer listings within PR other than Zillow, Realtor.com, etc.; my wife and I are looking at acquiring a vacation rental property, either in Rincon, San Juan, or Vieques.
Searching for properties in PR could be a hassle due to the fact that we don't have a MLS & there's listings that even though is active it's been out of market for the longest. A popular site in PR is clasificados Online. I have over 1,000 of properties under Market value all over the island.