A word about getting pre-qualified before 'shopping' for homes, land, condos in VI:
With all the new federal guidelines impacting the mortgage industry, it is getting more and more difficult to secure financing for the purchase of property in the VI. Only a few banks here will lend on land, and many of the condo complexes are self-insured and the banks are no longer lending on them.
Plus - if you're one of those brave souls who plans to sell everything and come down to paradise to live - if you need a mortgage - you may not be able to get one until you've worked here for a few years.
So, to save yourself some big disappointments - Please take a few minutes out of your busy day to contact a lender here on the island (your bank will NOT lend
on property here....trust me).
I will be happy to give you a list of names - just email and ask. Once you have that coveted pre-qualification letter - then believe me - sellers will pay MUCH more attention to your offer and seriously consider it.
Sadly, I've seen offers that are not even countered because the buyers were not pre-qualified! Had they been, my feeling is that the deal could be negotiated to everyone's satisfaction.
Contact me for names of reputable, experience St Croix lenders.
Kim Lucas, Realtor
340-626-3758
kim@coldwellbankervi.com
www.kimlucasvi.com
www.retireinthevi.com
Kim Lucas, Realtor
340-626-3758
kim@coldwellbankervi.com
www.retireinthevi.com
www.kimlucasvi.com
http://twitter.com/kimlucas/
Facebook: http://tinyurl.com/lphxcc
Kim,
Who's your favorite lender in St. Croix?
Mike in Tucson
HI MIke,
Scotiabank (www.scotiabank.com) is one of the only banks on STX to lend on Land - so guess you'd say they are my favorite for that. They do a good job on other mortgages as well. I like working with Schaffer Mortgage (www.mtgbiz.biz) here and First LIberty (www.firstlib.com).