Great news for non-resident investors eyeing U.S. real estate! Recent data from the Mortgage Bankers Association shows that U.S. mortgage rates have dropped significantly, reaching their lowest levels since early March. The average rate for a 30-year fixed mortgage is now 6.87%, while the 15-year mortgage rate has declined to 6.49%.
This drop presents a golden opportunity for foreign nationals and U.S. expats to move into the U.S. housing market. Lower mortgage rates mean reduced borrowing costs and increased potential for excellent investment returns.
Reduced Competition Benefits Overseas Investors
At the same time, the National Association of Realtors has reported a 36% drop in international buyers compared to last year. Contributing factors include high prices, limited supply, and a strong U.S. dollar, making U.S. properties even more expensive for some. This reduced competition gives foreign investors and U.S. expats an advantage in a less competitive market, allowing them to get better deals and potentially more attractive purchase prices.
At America Mortgages, we encourage investors to take advantage of these market conditions! To support your investment venture, we offer tailored loan programs so you don’t have to miss out on this opportunity:
AM Rental Coverage +
- Property Type: 1-4 units (one property)
- Minimum Loan Amount: US$100,000
- Loan-to-Value: Up to 80% for purchase & 70% for cash-out
- Underwriting: Based on property’s rental income
- Credit Requirements: No U.S. credit required
- Income Requirements: No personal income required
- Closing Time: 30-45 days
AM Investor +
- Property Type: 1-4 units (one property)
- Minimum Loan Amount: US$150,000
- Loan-to-Value: Up to 75% for purchase & 70% for cash-out
- Underwriting: Based on an income letter, not personal tax returns
- Credit Requirements: No U.S. credit required
- Tax Requirements: No tax returns required
- Closing Time: 30-45 days
Mortgage Refinancing Surges to 2-Year High as Interest Rates Drop
The decline in mortgage rates has resulted in a 15% increase in refinancing applications last week—reaching the highest level since August 2022, according to the Mortgage Bankers Association. This surge, up 37% from last year, highlights the growing interest as rates decrease. Non-resident investors now have the opportunity to reduce their monthly payments and enhance financial gains through refinancing.
Investors, seize the opportunity now! America Mortgages can guide you with specialized refinancing programs to maximize these favorable conditions.
Maximize Your Benefits with America Mortgages
At America Mortgages, we designed these programs to simplify the investment process and make it easier for foreign investors and U.S. expats to secure financing. With favorable mortgage rates and decreased market competition, now is a great time to explore investment opportunities in U.S. real estate.
What are you waiting for? America Mortgages approves 97% of all loan applications! Contact our experienced loan officers today via our 24/7 link to begin your U.S. real estate investment journey.
