Buying a home in Florida from Spain

Yes. Buyers who live in Spain can buy and finance a home in Florida through lenders that make foreign national loans. You usually do not need US credit or a Social Security number. Expect a larger down payment and a higher rate than a standard US loan.

Why buyers from Spain look at Florida

Buyers from Spain often look at South Florida and Orlando for a second home and family visits.

What the lender will ask for

• Your valid passport, and your visa if you have one.
• Recent bank statements from your accounts in Spain.
• A reference letter from your bank.
• A credit report from Spain if one is available, or other proof of how you pay your debts.
• English translations of documents that are not in English. Most lenders want a certified translation.
• Proof of where the down payment comes from.

Moving money from Spain

Your down payment and closing costs are paid in US dollars, so your euros must be converted. Euro transfers from a Spanish bank are routine. Use your bank or a regulated transfer service, and keep every confirmation.

Using it and renting it out

If the home will be rented, a DSCR loan can qualify it on its expected rent. Rental rules depend on the exact address, so check Florida short term rental rules before you choose a home.

Visas and residency

Buying a home in the US does not by itself give you a visa or the right to live or work here. Talk with a US immigration attorney about visas.

Taxes, in plain words

US tax basics from the IRS: rental income from US property owned by a nonresident is taxed at 30% of the gross rent by default, unless you elect to be taxed on net income and file a US return (Form 1040-NR). When a foreign owner sells, the buyer generally must withhold 15% of the sale price under FIRPTA. See the IRS pages on nonresident real property and FIRPTA withholding. A cross border tax adviser can tell you how this fits with your home country.

Check whether Spain has an income tax treaty with the US on the IRS tax treaty page.

The steps

1. Send me your plan: where, what price range and how you will use the home.
2. I match you with lenders that finance buyers from Spain and tell you what they will ask for.
3. Gather your documents and start moving funds early.
4. Find the home and sign the contract.
5. Close. Many buyers sign closing documents abroad if the lender and title company allow it.

Back to foreign national loans · buyers by country

Home Loans With Dane is a US mortgage broker. This page is general information, not tax or legal advice. Talk with a tax adviser in both countries before you buy.