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
| Nationality | Property Value | Loan Amount | LTV | Rate |
| Australian Citizen | $12,500,000 | $7,500,000 | 60% | 11.25%/8.25% |
| Term | Address | Property Type | Purpose | Loan Type |
| 12 Month10/30 Fixed | Corona Del Mar, CA | Single-Family Home | Bridge to Perm | Residential |
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