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
| Nationality | Property Value | Loan Amount | ARV | Rate |
| Canadian Citizen | $312,000 | $294,000 | 80% | 10.50%/8.00% |
| Term | Address | Property Type | Purpose | Loan Type |
| Fix-and-Flip/30-Year Fixed | Seattle, WA | Apartment/Condo | Purchase | Residential |
