May 25, 2017
The Q Kapital Group, a Miami-based mortgage lender, is releasing a new mobile application designed to help foreign nationals buy and mortgage homes and property in the United States.
Q Kaptial Group's app is designed to easily manage mortgages on properties in the U.S. from buyers in other countries, specifically for properties in Miami and New York. With rising interest in international spending from wealthy consumers around the world, particularly in China, this app could reach a wide affluent audience.
“We provide a complete mortgage experience to our clients,” said Gaston Schneider, co-founder of Q Kapital, Miami. “From the beginning of the process until the closing we work hand by hand with the clients.
“We have available more than 15 mortgage loans programs for foreign nationals clients from commercial to residential properties,” he said.
For the wealthiest buyers in the world, even those that live abroad most of the time, having a residence in the U.S. is almost a necessity.
The convenience of having your own residence in New York, one of the world’s business centers, far outweighs the price difference between owning a home and renting a hotel every time they visit.
With that in mind, Q Kapital created a mobile app to help foreign buyers navigate the complicated waters of U.S. property law. Many buy homes in other countries with cash to avoid having to navigate the complex credit and mortgage laws.
The Q Kapital app
Via Q Kapital and its namesake app, those buyers can now easily buy a home through credit means and mortgage the property.
This is an important new tool, given the rise in international luxury spending from places around the world. In particular, Chinese consumers are eager to snap up luxury property in other parts of the world, particularly in the U.S.
“We have being experiencing a significantly grow in the Chinese buyers," Q Kapital's Mr. Schneider said. "We are currently financing several Chinese buyers in Brickell City Center and in New York.”
The app aims to simplify the property acquisition process so that customers can purchase and begin using their new homes as soon as possible.
"Our objective is to simplify the mortgage application process," said Q Kapital's president and founder Mauricio Ordoñez. "We created this app so foreign national buyers can apply for mortgage financing from anywhere in the world in a secure way. This expedites the process tremendously."
Making this tool available on the mobile channel is a smart move on Q Kapital’s part. Countries such as China rely heavily on mobile as their way of interacting with the commercial world.
The Chinese market is very mobile first. Almost three quarters of purchases are done on mobile, far past desktop. Seventy-two percent of sales were mobile and 28 percent desktop in Q3 of 2016 (see story).
These mobile tools can then be linked with a Chinese consumer’s bank account for easier purchasing, such as the kind of bank integration that WeChat has been doing for a while now.
The Q Kapital app
WeChat’s social gifting and augmented reality coupons on Alibaba’s Alipay are a few of the tools consumers can leverage through mobile wallets that make the customer experience in China extremely advanced. Marketers should be prepared for this to be replicated throughout the world, as well as advancing beyond (see story).
This new mobile tool will give those international consumers the resources to buy property in the US on credit without having to sort through difficult international laws alone.
"The mortgage process shouldn't be complicated," Q Kapital's Mr. Schneider said. "Now that virtually everyone is accessible via mobile, buyers can use our app from anywhere worldwide and see how much financing is available to them within seconds.
"It's a fantastic tool that we're proud to say is also free," he said.