The Client
Our client from Australia wanted to look for low-cost residential housing to earn investment income. They like the Midwest cities due to their low entry point.
How We Helped
Our client purchased a 3-bedroom property, which would give them the benefit of both yield and capital appreciation. They had no U.S. credit and a lumpy income from being self-employed, but we were able to structure a foreign national 30 year fixed loan. The entire transaction from loan application to closing was completed within 40 days, and the client never left Australia.
The entire transaction from loan application to closing was completed within 40 days, and the client never left Australia.
Loan Details
| Nationality | Property Value | Loan Amount | LTV | Rate |
| Australia Citizen | $150,000 | $105,000 | 70% | 5.99% |
| Term | Address | Property Type | Purpose | Loan Type |
| 30 year fixed | Detroit, Michigan | Single-Family Home | Purchase | Residential |
| Nationality | Australia Citizen |
| Property Value | $150,000 |
| Loan Amount | $105,000 |
| LTV | 70% |
| Rate | 5.99% |
| Term | 30 year fixed |
| State | Detroit, Michigan |
| Property Type | Single-Family Home |
| Purpose | Purchase |
| Loan Type | Residential |
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