Helpful Tips for Real Estate Buyers on St Croix
- Local Lenders on the island can provide you with FHA, VA and Conventional Mortgages
- Most Lenders can Conditionally Pre Approve you in 1 day
- St. Croix offers numerous Mortgage Companies and Banks
- Our Lending Institutions have different loan packages: Some banks may offer up to 95% financing on Land, Some will offer 100% on VA Loans, Others will loan up to 80% on your second home – And More to Choose From
- In the Islands we use Attorneys to Close the Deals – Not Title Companies, as it is done in the States. Average cost $800 to $1500 for an Attorney.
- Can you Close Your Deal without Being On Island?? – You sure can and it is done all the time
- Your Investment is SAFE – We are a US Territory, We use Title Insurance and Have Recorded Deeds
- Closing Costs tend to be higher here mainly due to Hurricane Insurance (Condos and Homes)
- Buyer’s other costs would be when obtaining a Mortgage:
- Survey $650 and up for an As-Built Survey
- Home/Condo Inspection (Optional) – $450 and up
- Title Insurance – Dependent on Sales Price
- Recording Fees
- Appraisal – $350 + (approx)
Paying Cash – No Problem – RE/MAX will provide you with a Preferred Vendor List to make your Closing Quick and Easy.