Buying a house in LA & the financing

[doombug]

... in response to Re: Buying a house in LA & the finan..., posted by Red Clay on Jan 12, 2005

It's great to hear that I'm not the only one doing this.

From what I've gathered so far, it looks as if I need my wife to set up a special savings account at a bank (Banco de Credito, in our case), where I would wire money (the term the banks use is "remesas") until we reach a certain balance (10% to 25% of the loan amount).  Thereafter, the bank will provide the financing for our purchase.

I have to supply the bank sworn evidence of my income, which must be certified at the consulate here in my state, along with a copy of my passport.  

Within the past few days, I've spoken to a few real estate and banking agents in Peru, but I thought it'd be important to gather some ideas here too.

Here are a few sites that I've used to kick start my effort:  

This site provides an example of how to qualify for financing.  It's in Spanish, and it looks as if it is oriented towards the first-time home buyer in Peru:

http://www.villaran.com/credmivivienda.htm

This is the complex where I'm hoping to buy an apartment:

http://www.constructora-triada.com/

A list of real estate agents in Peru:

http://www.pergaminovirtual.com.ar/categorias/Empresas_y_Negocios_Inmobiliarias_Per_.shtml

This site explains Banco de Credito's program, which I'm considering now (under the heading, "crédito mivivienda con remesas"):

http://www.viabcp.com/abre_frames.asp?nombre=viainmuebles&Url=/viainmuebles

Here is another banking resource I found; it has a lot of bank links and info. about home finance in Peru:  

http://www.creditosperu.com.pe/

Thanks in advance for any tips you pass along during your research in this area.

[Red Clay]

... in response to Re: Re: Buying a house in LA & the f..., posted by doombug on Jan 12, 2005

Thanks doombug, good info. I'll be in touch. Sounds like you have done a little more investigating than we have at this point. We have seen the Villaran site. Another site with alot of properties listed is alfredograf.com. You might like looking at that one. We emailed them and never received a reply, but you know how that goes in SA.

[doombug]

... in response to Re: Re: Re: Buying a house in LA & t..., posted by Red Clay on Jan 13, 2005

I had seen that site to (alfredograf.com), and read a post in some other forum that recommended them.  Seems pretty legit.

I also emailed Villaran, and got no response.

I'm going to have to rely strictly on bank financing for a purchase, as I'm not wealthy, have no savings.  That is why I originally posted this question, to see if anyone had tips on banks or real estate companies that have experience with foreigners wanting to own a home in LA.

My only concern is getting my wife and her mom a place to stay; they seem to be bouncing around, from place to place, or are uncomfortable living with family members who aren't very supportive/responsible.

And my secondary concern was having a place to retire to in the future, where I could live off my pension, and have little to no housing expenses when that time comes.

When I found out anything new, I'll pass it along to you as well.