Mortgage Loans to buy a new home or refinance your home
Caribe Federal gives you the support you need when buying a property or refinancing an existing one. Our representatives are specialized in mortgage loans and will guide you throughout the process.
We have different options with attractive interest rates; evaluate which one works best for you.
FHA, VA o RURAL Mortgage*
- Primary residence loan
- The maximum amount of loan to request will depend on the requirements of the selected mortgage product.
- Refinancing with or without surplus depending on the selected financing product.
- Amortization terms at 15 and 30 years
Conventional Mortgage*
- Conventional Mortgage Products Conforming or Non-conforming
- Mortgage loan for principal residence
- Mortgage loan for a second home for vacation or recreational use for personal or family enjoyment
- Mortgage loan for investment property
- Maximum amount of financing will depend on the selected financing product.
- Amortization terms at 15 and 30 years
Second Mortgage*
- Second mortgage home loan
- We offer second tier enrollment home loans up to a maximum of 80% of the appraised value, including the first mortgage.
- Amortization terms at 15 and 30 years
Land Mortgage Loans *
- Mortgage loan for the purchase or refinancing of Land.
- Maximum of 50% LTV of the sale price or appraisal, whichever is lower.
- Amortization term up to 15 years.
We can provide you with a pre-qualification. Applying for a mortgage loan in Caribe Federal is simple: by calling 787-474-5151 select mortgages or dial any of the extensions 5262 or 5423, writing us directly to the email: mortgage@caribefederal.com or click on the box “Request more information” and complete the corresponding spaces with your contact information and a mortgage professional will be contacting you to assist you.
The processing of a mortgage loan requires various documents and evidences important to be able to handle your application; therefore, the following basic documents will be required:
- Copy of the deed of sale
- Copy of the current Purchase-Sale contract, if applicable
- Evidence of payment delivered to the seller as a Buy-Sell option.
- Proof of income:
- Salaried: Stubs of the past 30 days and copy of the W2 of the past
two years. - Self-employed: Copy of the income tax returns of the past two years.
- Salaried: Stubs of the past 30 days and copy of the W2 of the past
- Provide the cadastre number
- Copy of the Bank Statements of the past two months.
- Present a state-issued photo ID for each applicant.
- Copy of the Social Security Card of each applicant.
- Other documents may be requested during the processing of the loan.
To learn more about our mortgage products, call 787-474-5151 ext. 5262 or 5423.
* Certain restrictions apply. Subject to credit approval and other parameters established by the secondary market and CFCU. Your interest rate will be determined based on your credit history and Loan-to-Value.
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