Tuesday 27 October 2009

French home loans: Finance for US buyers of French property

Every American has a second home in France - Thomas Jefferson

The historical links between America and France are well known, from the Statue of Liberty to the connections of WWII. The fascination of Americans with France is understandable drawing many visitors and prospective homeowners each year. The numbers of American buyers in France has been increasing in recent years but with the current economic conditions and the difference in the exchange rate, enquiries from the U.S. have dropped significantly over the last 18 months. Now that lending conditions in France are better than most developed countries a French home loan is often the best bet for buyers from the United States of America as a way to finance a property in France. Given the strength of the Euro it definitely makes sense to finance the purchase in France with a high loan to value French home loan. As noted elsewhere on this blog, there is currently a lot of competition in the market for home loans in France with several banks reducing their rates but up to 15%.

Although French banks do favor borrowers from the EU over those from other countries, there is generally no problem in getting finance for a French property for a US citizen. There is generally no additional paperwork required in order to secure finance in France. Opening a bank account in France is simple with Athena Mortgage's French current account service, a bank account can be opened within 24 hours and the newly launched French Paperwork Assistance will also take all of the hard work out of owning a property in France.

To find out more about French home loans and finance in France for U.S citizens please visit www.athenamortgages.com

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