Latin American Investor Purchases First U.S. Rental Property with Milo

In the cultural neighborhood of Doral, FL, an investor from Ecuador aimed to make a significant step: purchasing his first property in the United States. This wasn't just any investment; he intended to pass it down to his daughters, providing them with a source of passive income and a potential future home. However, navigating the U.S. mortgage landscape can be challenging, especially with language barriers and unfamiliarity with the process.

Our client, a seasoned investor, set his sights on a single-family home valued at $593,000. He was referred to Milo by his realtor, who trusted our expertise in foreign national loans and our tailored customer service for international clients. Despite his strong investment background, the client faced a significant challenge: he spoke no English and was unfamiliar with the U.S. mortgage process.

Recognizing the importance of clear communication, our multilingual team stepped in. We ensured that every interaction was conducted in Spanish, providing the client with the comfort and confidence needed to navigate the process. From explaining the intricacies of the loan to handling documentation, we were there every step of the way.

We broke down complex terms to ensure clarity. For instance, we explained the DSCR (Debt Service Coverage Ratio) loan, which evaluates the income generated by the property against the loan payments—a critical detail for income-generating properties. Additionally, we discussed the 70% LTV (Loan-to-Value) ratio, meaning the loan covered 70% of the property's value, while the investor provided the remaining 30%.

Our team's dedication to detail and clear communication ensured a smooth process. We managed each step meticulously, making sure the client understood the process and felt supported throughout. This approach helped us overcome the language barrier and the client's initial unfamiliarity with U.S. mortgages.

The client's goal was to secure a property for his daughters' future. We facilitated this by providing a comprehensive and supportive service, ensuring the client never felt overwhelmed. The successful closing of the loan and acquisition of the property marked a significant achievement for the investor and a testament to our team's commitment.

This story highlights the importance of understanding client needs and delivering tailored solutions. At Milo, we don't just provide loans; we offer the support and expertise necessary to help our clients achieve their financial goals.

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The opinions expressed in the Blog are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security or investment product.