Learn which type of Loans you could use to Buy Residential Real Estate in Puerto Rico. Puerto Rico is a US territory and lenders have the benefits of offering Federal Loans as FHA, Fannie Mae, VA loans and Rural Development Loans. If you are interested on Investing in Puerto Rico Real Estate this presentation is a made for you.

1. Looking to Invest in Puerto Rico?
Loan Options: Puerto Rico Real Estate
1
Daniel Ruiz, Mortgage Loan Originator NMLS: 408901
Cell. 787.344.4688 Email: jose.ruiz@preferredmortgagepr.com

2. Loan Types
Puerto Rico lending institutions will finance upon a
prequalification or preapproval. It’s a similar process for
acquiring a loan in the U.S.
Puerto Rico is a U.S. territory and it has access to Fannie Mae
Loans, FHA, VA Loans, Rural Development Loans, etc. Lending
institutions will finance depending on the use that you will be
giving to the property.
A 75% - 100% financing will be available depending if it’s going
to be your primary residence, second or vacation home or an
investment property.

3. Maximum Amount to Finance
Subject to Occupancy Purpose
● Primary Residence: You could get up too 100% financing with a VA or
Rural Development Loan
● Second Home: Conventional Fannie Mae with Private Mortgage Insurance
up to 90% financing
● Income or Investment Property: Maximum amount to finance will be
80% with a Conventional Non-Conforming Loan
Primary Residence
Second Home
Income Property
0 0.2 0.4 0.6 0.8 1 1.2
Amount to Finance

4. Loan Products Available
and Maximum Amount to Finance
VA Loan 100%
Rural Development
FHA 96.5%
Conventional Conf. w/MIP 95%
Conventional NonConf
Conventional Conf. w/out MIP
0 20 40 60 80 100 120
Amount to Finance

5. Interest Rates
● Rates are .50% - 1.25% higher than the mainland. You
are going to get the best interest rates using a federal
government backed loan as FHA / VA / Rural
Development or Fannie Mae
● Non-Conforming Loans are used when the property or
borrower doesn't qualify for any government backed
loan. Lenders use their own money to finance. These
are higher interest rate loans.

6. Property Conditions
● Property must be appraised by an appraiser assigned
by the lender
● The appraisal has to be paid by the borrower.
(Approximate cost: $350.00 1 unit property)
● For financing purposes the lender will use the less
between the appraisal value and the purchase price
● Properties with subject to repairs condition are not
allowed unless you qualify for a rehabilitation loan as
FHA 203k

7. Condo Financing
● FHA and VA Loans: condo must be in the condo approved
list of each agency
● Fannie Mae Conforming Loans: Condo must comply
with (1) No more than 15% of delinquency in HOA dues over
60 days (2) Fidelity bonds that covers the administrative
personnel and HOA subcontracted companies (3) 10% of the
budget in monetary reserves in a bank account
● Non-Conforming Loans: For condos that do not meet
Fannie Mae neither FHA/VA Loans requirements. These
loans have higher interest rates

8. Qualification
A loan application process is very similar and strict as the one that
lenders use in the U.S. The lender is going to verify your, credit
history, income using your tax returns, paystubs, proceeds of any
non-frequent deposit, bank statements and much more. As Puerto
Rico is a United States territory, it has to comply with federal
regulations as well as local laws.
Most common required documents:
● Driver's License or Passport
● Social Security Card
● Last 2 paystubs
● Last 2 tax returns
● Last 2 bank statements
● Credit Report Inquiry
● Sales Contract (signed)
● Evidence of Earnest Money
Deposit
● Appraisal Deposit

9. Pre-Qualification
● To begin the house hunting experience you will
need to have a pre-qualification letter
● For this purpose you may contact me at: Cell.
787.344.4688 or Email:
jose.ruiz@preferredmortgagepr.com

11. Location
Roosevelt Ave. #307 San Juan, Puerto Rico
Find us on Google Maps:
http://www.preferredmortgagepr.com/localidades/

12. Our Team
Always with a smile and ready to serve you!

13. Client Satisfaction
Closings! :)

14. I Will Make It Happen!
Close in 30 days – Best Mortgage Rates – Experience
Contact Information:
Cell. 787.344.4688
Email: jose.ruiz@preferredmortgagepr.com