Tag: Case Studies

Canadian Building Contractor Secures U.S. Financing for Fix-and-Flip Expansion

American Mortgage Lenders | Home Loan in America

The Client

Our client was a Canadian self-employed building contractor living in Vancouver, BC. He was a very experienced home flipper in Canada and the U.S. In the U.S., he was forced to pay cash due to the inaccessibility of “Fix and Flip” loans for non-U.S. citizens. He wanted to expand his U.S. presence but needed proper financing to do this.

How We Helped

Our America Mortgages loan officer based in Canada structured our AM Fix-and-Flip loan, which allowed the client to qualify to expand his business in the U.S. He had more than 10 Fix-and-Flip completed in the U.S., all with cash. With his ability to get financing for the Fix-and-Flip purchase, he switched to a long-term hold focus of fix n hold. 

Our America Mortgages loan officer worked with the client from acquisition and renovation financing to refinancing to a long-term mortgage based only on the income of the rental property to qualify. 

Loan Details

NationalityProperty ValueLoan AmountARVRate
Canadian Citizen$312,000$294,00080%10.50%/8.00%
TermAddressProperty TypePurposeLoan Type
Fix-and-Flip/30-Year FixedSeattle, WAApartment/CondoPurchaseResidential

U.S. Expat Living in Tokyo Secures Financing for Hawaii Dream Home

Mortgage For US Expats | Expat Home Loans

The Client

Our client was a U.S. expat living in Tokyo for over 20 years. He had been abroad for so long that he no longer maintained U.S. credit. He was considering retiring in a few years and wanted to buy his dream home in Hawaii, which he would rent before retirement. He went to the U.S. bank with which he had a bank account for more than 20 years only to find out that, as he no longer maintained U.S. credit, they were unable to approve him for a mortgage loan.

How We Helped

Our America Mortgages loan officer based in Bangkok working in the client’s time zone was able to structure a loan using his Japanese credit which was well established. He was treated as a “foreign national” to qualify for the loan. The smart structure to this, he would only need to have a foreign national loan for a couple years until he was able to build sufficient U.S. credit history. Once he established U.S. credit again, he could refinance the loan into a U.S. citizen / expat mortgage. 

Monthly servicing was structured with a 10 year fixed interest only (regardless of borrower’s age) which converts to a 30 year fixed without an adjustment in rate. This loan gave the client the flexibility to refinance if rates went down or keep the fixed payments for the next 40 years.

Loan Details

NationalityProperty ValueLoan AmountLTVRate
U.S. Citizen [Expat]$1,600,000$1,120,00070%8.25%
TermAddressProperty TypePurposeLoan Type
30 Year Fixed Interest OnlyHonolulu, HISingle Family HomePurchaseResidential

U.S. Expat Living in London Invests in Boston Property with AM Student+ Loan

US Expat Mortgage | International Mortgage Loans

The Client

Our client was a self-employed U.S. expat living in London wanted to buy a property for his daughter attending school in Boston. After his daughter finished her first year of school, he wanted to buy an apartment near the university where should could live and split the costs with her school friends. He wanted to give his daughter a nice, safe place to live and invest in an income producing property. 

How We Helped

Our America Mortgages loan officer based in London structured our AM Student+ loan, which allowed the client to qualify based on the proposed rental income and not the client’s personal income. As a self-employed business owner that had a difficult time showing his true debt servicing ability, this was an ideal solution.  

The client purchased the property, and her daughter moved in and rented the other two rooms to her friends, who paid 80% of the mortgage payment. This was a smart investment with a well-structured U.S. mortgage program.

Loan Details

NationalityProperty ValueLoan AmountLTVRate
U.S. Citizen [Expat]$485,000$339,50075%7.825%
TermAddressProperty TypePurposeLoan Type
30-Year Fixed Interest OnlyBrighton, MAApartment/CondoPurchaseResidential

Hong Kong Businessman Streamlines U.S. Property Holdings with Portfolio Loans

U.S. Property | Foreign National Mortgage Loan

The Client

Our client was a Hong Kong businessman who had acquired more than 400 residential properties in the state of Georgia, all with private bank financing from HK. He had an entire administrative team just to keep up with the mortgage payments, insurance, and property taxes. He wanted a simple solution that would reduce overhead administrative costs and simplify his life without selling properties.

How We Helped

Our America Mortgages loan officer based in Hong Kong structured a refinance into four separate portfolio loans, placing an equal number of properties in each portfolio based on various factors, such as value, time owned, and rental income. These loans not only consolidated the monthly payments but also included impound (internal escrow accounts) to pay the property taxes and insurance when due.

The client was able to reduce his staffing costs by more than 50%, increasing the overall yield on the portfolio significantly while also simplifying his life.

Loan Details

NationalityProperty ValueLoan AmountLTVRate
Hong Kong Citizen$44,800,000$17,920,00040%7.50%
TermAddressProperty TypePurposeLoan Type
5-Year Fixed Interest OnlyAtlanta, GASFR/Apartment/CondoPortfolioResidential

Australian Luxury Property Owner Uses Bridge Loan for Business Expansion in California

Residential Bridge Loan | Buying Property In The US

The Client

Our client living in Australia owned a luxury property in California with no mortgage. He wanted to take advantage of a market opportunity for his business but had very little liquidity. He explained his situation and as he needed the funds within a week.  

How We Helped

Our America Mortgages loan officer based in Sydney proposed a quick real estate bridge loan to address his immediate liquidity issue. The loan was structured as a pure asset-based (no financials required) with no prepayment penalty and funded within 4 days from application. As there was no prepayment penalty, our loan officer immediately started the process of refinancing into a 10-year fixed interest only with a total term of 40 year fixed rate. 

The immediate liquidity issue was resolved, and a proper long-term mortgage was put in place.

Loan Details

NationalityProperty ValueLoan AmountLTVRate
Australian Citizen$12,500,000$7,500,00060%11.25%/8.25%
TermAddressProperty TypePurposeLoan Type
12 Month10/30 FixedCorona Del Mar, CASingle-Family HomeBridge to PermResidential

Singaporean Couple Masters U.S. Real Estate Investing with Purchase and Refinance Strategies

Buy House In USA | US Expat Mortgage

The Client

Our client, a Singaporean couple, went from novice real estate investors to building a portfolio of 12 U.S. properties in a matter of 4 years, quitting their jobs and establishing themselves as sophisticated real estate investors. They went on to teach others how to do the same.

How We Helped

Our America Mortgages loan officer based in Singapore met with the couple several times prior to helping them create a structure for their first U.S. property. After the first was renovated and increased in value, the used the equity to pull out cash at 70% LTV and use another mortgage to purchase at 75% LTV. They did this over 10 times to create a portfolio. 

A clever use of equity and professional and experienced loan structure from our America Mortgages’ loan officer helped create an ongoing stream of passive income.

Loan Details

NationalityProperty ValueLoan AmountLTVRate
Singaporean Citizen$200,000 (various)$150,00075%8.375%
TermAddressProperty TypePurposeLoan Type
30-Year FixedCleveland, OHSingle-Family HomePurchase/RefiResidential