Have you been turned away by U.S. banks because of foreign-earned income? Can’t get a mortgage due to having no U.S. credit history? America Mortgages not only understands, we have lived it. Founded by two American expats, America Mortgages’ loan programs are tailored and specific to non-U.S. residents, whether they are foreign nationals, green card holders, or U.S. expats.
Many overseas investors face challenges when trying to invest in U.S. real estate. Traditional lenders often ask for U.S. credit scores, tax returns, and strict income rules, which makes it hard for international investors to qualify for loans — even when they are more qualified than many U.S. borrowers.
Having access to leverage in the world’s largest and most stable real estate market should be straightforward, logical, and affordable. But it’s not…until now!
At America Mortgages, we accepted the challenge of making U.S. mortgage financing available for global real estate investors. That’s why we offer common sense underwriting. Instead of focusing on U.S. credit scores or tax returns, we look at the property’s cash flow and your ability to make payments. This approach makes it easier for foreign nationals and U.S. expats to secure a mortgage and invest in U.S. real estate.
The Problem with Traditional Underwriting
One of the biggest challenges for international investors is that traditional underwriting relies on U.S. financial records like credit scores and tax filings. For foreign nationals who don’t have U.S. credit, this is a major roadblock.
Even U.S. expats, who may have great credit, can face problems because their income comes from outside the U.S. or they don’t receive a W2 (end-of-year statement). This can lead to rejections or less favorable loan terms, regardless of their relationship with U.S. banks.
Traditional U.S. bank underwriting doesn’t fit the needs of most international investors, creating unnecessary obstacles, stress and complexity when investing in U.S. real estate.
International Mortgages for U.S. Properties:
In certain countries such as Canada, some banks may offer U.S. mortgage financing but it comes with limitations and challenges. Besides impacting the local debt-to-income ratio in their home country, there are limitations on loan-to-value (LTV) and potentially the type of property and location.
As America Mortgages uses onshore U.S. funding, it does not reflect nor impact the borrower’s home country’s credit report.
What is Common Sense Underwriting?
America Mortgages uses a different approach with common sense underwriting. This system is built to help foreign nationals and U.S. expats, focusing on the property’s rental income instead of relying on U.S. credit scores and tax documents. This makes it easier for U.S. expat and foreign national investors to get qualified.
Introducing Two New Loan Programs: AM Complete and AM Expanded
AM Complete and AM Expanded – these loans are built on common sense underwriting, meaning they focus on the rental income of the property, not the borrower’s credit history or personal income.
What Can These Loans Be Used For?
- Property Purchase: Whether you’re buying your first investment property or expanding your portfolio, our loans can be used for property purchases.
- Equity Release / Cash-Out: If you already own U.S. property and want to access the equity, you can use these loans for cash-out refinancing, giving you the flexibility to use the funds as needed.
AM Complete Loan Program
The AM Complete loan is designed for foreign nationals and U.S. expats focusing only on the property’s cash flow, not your U.S. credit history or tax returns.
Key Features:
- Loan amounts from $150,000 to $3.5M
- Up to 80% LTV for U.S. Citizens and 75% loan-to-value for Foreign Nationals
- No U.S. credit required for Foreign Nationals
- Interest-only option for the first 10 years, which helps increase rental yields
- Can be structured for individuals, entities, or trusts
- Fast, stress-free closing times
AM Expanded Loan Program
The AM Expanded loan is for investors with smaller to medium-sized loans. This program is excellent for those who may not meet strict traditional lending rules for income and property values. Like AM Complete, it focuses on the property’s rental income, not the borrower’s personal income.
Key Features:
- Loan amounts from $55,000 to $2M
- Up to 75% LTV for U.S. Citizens, 70% for Foreign Nationals
- Interest-only option for 10 years, which helps increase the rental yields
- Available only to U.S. entities such an LLC (not individuals)
- Requires proof of 12 months of payments (non-encumbered)
- Fast, stress-free closing times
Why Common Sense Underwriting Works
Common sense underwriting is easier and more practical for foreign nationals and U.S. expats. America Mortgages looks at all investment property as a cash-flowing asset. If the rents cover the mortgage, then the loan will qualify.
- Focus on Rental Income: The property’s rental income is the main focus, not your personal income, making it a straightforward way to qualify.
- Simple Process: With fewer paperwork requirements, such as tax returns, loans get approved faster.
- More Access: Common sense underwriting opens U.S. real estate to global investors by making it easier for investors to qualify for a U.S. mortgage.
If you’re a foreign national or U.S. expat looking to invest in U.S. real estate, America Mortgages is here to assist. Our AM Complete and AM Expanded loans offer flexible and straightforward solutions focused on rental income and cash flow, making it easier for international investors to invest in the U.S. real estate market.
You can speak to a loan officer anytime by calling us at +1 (845) 583-0830 or schedule a no-obligation meeting using our 24/7 calendar link. We’re ready to help!
