Frequently Asked Questions

• It saves you time when showing your property and collecting the documents required by banking entities. You do not have to neglect your job, business, personal activities or your family to show the property.
• Willing to provide service at times or days that may be inconvenient for you.
• The Broker is trained to guide prospective buyers, since in many cases neither the buyers nor the sellers have knowledge about the mortgage banking systems.
• Provide guidance on possible improvements or changes to make the property more attractive to the public.
  Time to show it, and thus shorten the time it is on the market.
• The purpose at all times is to effectively market the property, to always be available, both for the selling client and the buyer, to search and use all
  the alternatives and/or possible means to achieve the sale and guide and be present throughout the entire qualification and closing process at the bank, helping to resolve any
  situation that could arise.

One of the biggest advantages of buying a house in Puerto Rico is the tax benefits. The island is a U.S. territory, which means that Puerto Rican residents are subject to U.S. federal income tax. However, there are several tax incentives available to people who move to Puerto Rico, including Act 20, Act 22 and Act 60.

A broker is an individual or firm that acts as an intermediary between an investor and a securities exchange. A broker can also refer to the role of a firm when it acts as an agent for a customer.

To purchase a home in Puerto Rico, you are required to be pre-qualified for a loan. If you are planning a cash purchase, you must show evidence of sufficient funds. A good credit score and a 20% downpayment are the norm for getting a loan.

Cost of Living and Tax Benefits in Puerto Rico

Life in Puerto Rico is a superb value, with a high standard of living combined with an overall lower cost of living than most expect. Your dollar will go farther in Puerto Rico than in most U.S. cities.

FHA loans are backed by the Federal Housing Administration’s mortgage insurance program. FHA loans in Puerto Rico are open to anyone, not just first-time homebuyers. Down payments with FHA loans can be as low as 3.5%, which means greatly decreased costs at closing.