Author: Premela R.

Canadian real estate investors eye California for higher-yield returns.

Post author By Premela R.
Post date January 3, 2021

The Client

Our client is a Canadian attorney and real estate investor looking to shift his real estate portfolio for multi-family U.S. property in California for retirement income. The property is a three multi-unit home in Venice Beach (2) and Long Beach (1), California, with net yields of 16%.

How We Helped

To secure the yield needed, the client required a mortgage below 5%.

Although the client earned excellent income and was an experienced real estate investor, the lack of U.S. credit created issues each time he approached a California bank or broker for financing.

As AMFNLite Program allows the borrower to use a “local” credit report, it solved the issue of not having U.S. credit. The rate required was merely an adjustment in LTV, giving the borrower a fixed rate on each property below 5%. (Also see Can a Canadian Buy a House in the USA?)

Loan Details

Nationality	Property Value	Loan Amount	LTV	Rate
Canada Citizen	$4,200,000	$2,500,000	60%	4.35%

Term	Address	Property Type	Purpose	Loan Type
3/1 ARM	Venice Beach, California	Single-Family Home	Purchase	Residential

Tags Canadian

America Mortgages saves Expat’s loan after getting denied by U.S. bank.

Post author By Premela R.
Post date January 2, 2021

After a 4-month process with a major U.S. bank, our Expat client gets denied due to lack of U.S. income. BUT, America Mortgages saved the loan with an even lower rate and closed in 30 days!

Our client is a senior partner at an U.S. law firm based in Hong Kong for the past 2 years. He was living previously in New York but grew up in Florida. In August last year, he decided to take advantage of the low interest rates and buy a second home in Ft. Lauderdale.

Our client has almost perfect U.S. credit and a high-income earner. He naturally goes to his bank in New York (let’s not guess here) and after 4-months of late night calls, not having emails replied back, speaking to call centers and having to explain that there are no zip codes in Hong Kong – his loan was rejected after finding out his income was actually earned in Hong Kong. Unreal, right?

We hear this story literally every day!

He did a search online and gave us a shot. Needless to say, being able to speak to a mortgage specialist in his own time zone was already a big deal.

We got him into a 30-year fixed mortgage at 2.75% at 80% Loan-to-value! He said the rate was even lower than he was quoted at his bank.

Since he had all the paperwork completed already we were able to fund the loan in under 30 days!

He’s now referred us to 5 of his Expat friends in Hong Kong.

America Mortgages, Inc. is a U.S. mortgage broker focusing only on U.S. Expats and Foreign Nationals living overseas. We offer over 150 U.S. bank and lender programs direct to our clients around the world.

America Mortgages is wholly owned by Global Mortgage Group Pte. Ltd. an International Mortgage Specialist based in Singapore with offices and partnerships around the world.

Speak to our U.S. mortgage specialist to learn more. [email protected].

U.S. Expats in Australia gets a 30-yr fixed mortgage at 2.85%!

Post author By Premela R.
Post date January 2, 2021

The Client

Our client is a Healthcare Executive working for a U.S. biomedical company and living in Sydney.

How We Helped

He wanted to refinance his investment property in Virginia to take advantage of the lower interest rates. His current mortgage was 3.45% on a 30-year fixed.

He came to us informing that he was denied a mortgage from his hometown bank in Virginia – with whom he has an existing mortgage with. The bank informed him that as he moved to Sydney and is now making ‘overseas’ money, they could not offer him a loan-even as a U.S. Citizen.

Our loan officers found a lender to refinance the loan at 2.85%!!!!

Loan Details

Nationality	Property Value	Loan Amount	LTV	Rate	Term
U.S. Citizen	$750,000	$525,000	70%	2.85%	30-year fixed

State	Property Type	Purpose	Loan Type	Home use
Great Falls, Virginia	Single Family Residence	Refinance	Residential	Second Home

Non-income tax reporting Saudi citizen purchases home in Phoenix to earn rental income.

Post author By Premela R.
Post date January 1, 2021

The Client

Our client has previously studied at the University of Arizona and loved the lifestyle, food, and culture. He’s now back in Riyadh, working at the family business. As with many Middle Eastern clients, he is not required to file income tax in his home country. Great for cash-flow, but bad for applying for credit outside your home country.

How We Helped

Our client was unaware that U.S. mortgages were available and had questions about the availability in Riyadh. We told them that only sanctioned countries are not allowed, and we work with clients in Saudi Arabia and around the Middle East regularly.

Because our loans reach across a broad spectrum of countries, we do not require tax returns to qualify. We allowed a letter from his employer stating his last three years and current income to qualify. Simple. Easy. Hassle-free.

Loan Details

Nationality	Property Value	Loan Amount	LTV	Rate
Saudi Arabian Citizen	$290,000	$203,000	70%	4.875%

Term	Address	Property Type	Purpose	Loan Type
30 years fixed	Phoenix, Arizona	Single-Family Home	Purchase	Residential