A five part series on powerful mortgage tools for U.S. real estate investing for preferred clients.
America Mortgages presents this series as part of our never-ending mission to inform and educate the global real estate community about the investment prospects in U.S. residential real estate and the accessibility with which financing may be obtained. If you’re getting this email, you’re considered a preferred client of America Mortgages or Global Mortgage Group, thank you.
Over the last 2 years, we worked on sourcing mortgage programs for all investors regardless of their experience. With loan amounts as low as $150,000 and as high as $150,000,000 we are at the forefront of Foreign National and U.S. Expat mortgages.
Over the next 5 weeks, we will introduce a new weekly series; The Investor Toolbox for Preferred Clients. This will consist of 5 enhanced loan programs offered by America Mortgages. As with everything we do, these programs are laser focused for Foreign Nationals and U.S. Expats looking to invest in U.S. property market. In this next series, we will go over the various ways you can acquire U.S. real estate without the rigorous and often painful process “traditional” banks require.
The Real Estate Investor Toolbox Series:
- · AM FN Investor +
- · AM U.S. Expat Mortgages +
- · AM Commercial +
- · AM Holiday/Airbnb Investor Program
- · AM No Income Required +
In the first article of the series, we introduce AM FN Investor +
AM FN Investor + allows borrowers to use a simplified form of income documentation to qualify rather than “traditional” income.
As a company, our only focus is providing market rate mortgage programs for Foreign Nationals. As we close U.S. mortgages for borrowers from Sydney to Shanghai, it is important to keep the documentation provided by the borrowers very simple and consistent.
Rather than going through years of complicated tax returns, pay statements, translations, and then having everything certified, we’ve realized that there is a much easier and straightforward way. America Mortgages has simplified the process to be very straightforward, and easy to obtain. We understand that many of our clients are entrepreneurs, self-employed or pure investors. Often these types of clients have difficulty qualifying for loans due to excessive writes offs, lumpy income or not being able to show their true ability to service debt. If you fall into one of these categories we will only require a letter from your accountant. This letter will state your last two years of income and current year to date. Fret not, you will no longer be seen as a “complicated or high-risk” borrower. As many have stated, it is truly the perfect loan for self-employed investors and entrepreneurs.
Are you employed but earning your income abroad? We understand you as well. Currency exchange, bonus income, deferred compensation, all these issues and more make for a complicated tax return for an underwriter in the U.S. that is used to looking at “Mr. and Mrs. Smith” simple two page tax returns. If you’re employed, all that is required is a letter from your employer with the employer’s letterhead. The letter, for which we have a template, will state last two years income and current YTD (year-to-date). Anything not in English will require a professional translation, but in general, yes, it’s that simple.
We should also mention that for both of these programs you do not need to have U.S. credit or a U.S. footprint. In lieu of U.S. credit, we can use a credit report from your home country or country of residence.
The income documents we require are very straightforward and easy for the borrowers to provide, making the underwriting approval process much quicker.
Normally, we can get an approval for your mortgage within 72 hours of submitting all documents. Following a successful mortgage approval on a purchase, we will issue a pre-approval letter which you can then use to go shopping! Once the loan is approved, if it’s an equity release or a refinance to a lower rate, we are able to start the process immediately and normally close the transaction within 30-45 days. .
This program is available in all 50 states regardless of your passport.
Are you more of a “seasoned” investor (like myself) in age? Don’t worry. In order to increase the yield, all loans are amortised over 30 years regardless of the borrower’s age. As a bonus, we also have a fixed 10 year interest servicing only option. As stated in the series, our goal is to give you the “tools” to invest in U.S. real estate.
If you’re sitting on the fence wondering if you should be investing in U.S. real estate, perhaps our last statement may make the decision easier… America Mortgages approves 97% of the loans submitted.
For more information on this Preferred Client mortgage program, please contact our team at [email protected]. Stay tuned to our next week’s article, where we introduce U.S. Expat mortgages as if you walked into a bank in the U.S.