Buying Property In The U.S.

The U.S. property market has been a wild ride for the past few years. As millennials move from metropolitan areas to the suburbs and interest in vacation homes has spiked, home prices have also jumped. Whether you’re buying your first home or building your real estate portfolio, picking the correct city to invest in could make a difference in appreciation and rental yield.

In general, investing in property offers cash flow, tax benefits, and equity building. Real estate is a fantastic investment choice. It can create constant revenue through rentals and be an excellent long-term investment, especially if the property’s value increases over time. For most investors, it may be the start to building wealth. Previously we compared real estate prices in The Aloha State; this week, using data from various online sites, we compiled a list of 10 U.S. cities where you could buy a home for under $250,000 that features appreciation and yield opportunity.

1. Pittsburgh, PA 

 Median home price: $216,600

What attracts investors to Pittsburgh? It’s reliable real estate growth! The best features of The Steel City are the conveniences it offers to its residents, such as various shopping districts, dining spots, and bountiful tranquil nature. According to WalletHub, Pittsburgh is one of the top 50 cities in the U.S. for renters. Investors who take advantage of the opportunity Pittsburgh presents would see passive income flowing in. 

2. Rochester, NY

Median home price: $221,300

Real estate markets in the northeast of New York remain strong, and Rochester is no exception. Rochester’s low cost of living and its incredible quality of life makes this city appealing to families and millennials. Rochester’s rental market is strong too, with 61% of the occupied houses in the city being made up of renters.  Purchasing a property for rental income? Rochester ticks the box! 

3. Little Rock, AR

Median home price: $223,330

The Arkansas River and its serene surroundings makes Little Rock a great option for individuals and families looking to buy a home. Its low cost of living, business opportunities, and high quality of life help keep Little Rock’s housing market strong. Altogether, Little Rock offers a really great opportunity for investment property in the entire country.

4. Detroit, MI

Median home price: $226,630

If you are looking to finance your mortgage with rental income, Detroit’s red hot real estate market might just be the city for you. With the median price of a single-family home at $226,630 and its rental demand, real estate investors can snap up this opportunity and then choose to refinance to lower their costs in the future. Detroit serves as an opportunity with a tremendous cash flow advantage!

5. Dayton, OH

Median home price: $233,660

Dayton’s high quality of life and robust economy are among the many reasons that attract renters. Its median home price is $233,660, making Dayton one of the few inexpensive property markets in the country. With its affordable prices and the demand for rental homes, investors will always have a strong pool of potential renters for their investment properties. Coupled with its capital appreciation, Dayton is a city not to be overlooked. 

6. Buffalo, NY 

Median home price: $236,030

Buffalo’s return on investment and its rental demand will show investors that purchasing a property in Buffalo is undoubtedly profitable. Considering its median home price is $236,030, it proves to be a potential solid source of passive income through its rental market. 

7. Memphis, TN

Median home price: $243,150

Looking to buy a property for rental income? Then the city of Memphis might be perfect for you. It is known as one of the most affordable places to own real estate property. Its median home prices are at $243,150, and its solid rental market will leave investors with extra cash in their wallets. 

8. McAllen, TX 

Median home price: $247,220

McAllen’s proximity to the U.S.-Mexico border makes it a major tourist destination. It is the largest city in the Hidalgo County of Texas. The cost of living, growth, affordability, and amenities concludes that this City of Palms is an excellent property investment location in the U.S.

9. Florence, OR

Median home price: $249,500

Famous for its rolling sand dunes, stunning beaches together with its exceptionally well-priced properties, Florence has a lot to offer investors looking to invest there. Its coastal location at the mouth of the Siuslaw River, combined with its scenic location, makes it a popular tourist destination.With Florence’s median home price at $249,500 and its property price appreciation makes investing in this city a great opportunity.

10. St. Louis, MO

Median home price: $249,600

Known for beer, barbecue, and baseball, St. Louis’ appeal is the reason for its flourishing real estate market. St. Louis’ demand comes from investors and people looking to rent a home. With this city’s affordable real estate, we think owning a property in St. Louis will be a profitable investment.

Whether you’re looking to grow your real estate portfolio or purchase your first home in the U.S., America Mortgages can help you achieve your goal. Looking to buy a home in one of these cities? If you’re a non-U.S. citizen, you can qualify for up to 75% in all 50 states with no U.S. credit. U.S. Expat? No problem, we have you covered. Up to 80% LTV! 

100% of our clients are living outside the U.S. Every loan program America Mortgages features are specific to these markets. We understand the landscape, the clients, and the process better than anyone else. 

Keen to know more? Arrange a no-obligation call with one of our loan specialists today. [email protected].

U.S. Mortgage for Non Residents | Non Resident Mortgage USA

U.S. Mortgage for non Residents

Is there a U.S. Mortgage for non Residents?

Yes, you can get a U.S. Mortgage for non-Residents! America Mortgages has several mortgage programs for non U.S. Citizens to obtain U.S. real estate for purchase or refinancing, regardless whether they have U.S. credit (FICO score), residency, or even proof of income.

Whether you plan on living in the home or staying in your home country and renting it out at today’s high rental rates, you too can invest in a U.S. property. From Florida to Texas to California, you can buy a home in any one of the 50 United States!

Loan to Value (LTV) Ratio on U.S. Mortgage for Non Residents

Maximum Loan to Value for a non-U.S. citizen mortgage is typically capped at 70% LTV (30 down payment) on a purchase and 65%LTV on a refinance.

Most programs allow up to USD$2,000,000 maximum cash out for a refinance or remortgage.

Non-U.S. Citizen Mortgage Income Qualification

America Mortgages mortgages for U.S. non-residents can be divide into two types of loan programs for:

  1. Stated Income Mortgages: Do not require income verification or tax returns. Perfect for non-U.S. citizen mortgage borrowers that are either self-employed or have numerous write-offs on foreign tax returns.
  2. Full Income Mortgages: Require the following:
  • Two (2) years of foreign tax returns
  • Two (2) months bank statements (foreign account okay)
  • One (1) month pay statements

Valid non-U.S. Passport

U.S. mortgages for non-residents require a copy of a valid passport of the borrower. A U.S. visa is not required normally. You should also make sure that your country is not listed in Office of Foreign Assets Control (OFAC) Sanctions Programs and Country Information.

Mortgage Loan Down Payment

The necessary down payment can range from 30% to 50%, depending on the property type, interest rate, and documents that you can provide. America Mortgages has mortgage programs for non-income and income verification.

Mortgage Interest Rate

U.S. Mortgage interest rates for non-U.S. citizen borrowers vary from 5% to 7+% and are subject to change every day. America Mortgages compensation is not based on the rate, and borrowers will receive the best options available at the time of application.

Acceptible Non-U.S. Resident Bank Statements

Non U.S. Citizen mortgage borrowers need to show two months (60 days) of bank statements and show that funds are “seasoned.” Seasoned funds mean that funds have been in an account, U.S. or Foreign, for a minimum of 6o days for anti-money laundering (AML) purposes. U.S. anti-money laundering laws require this.

If the borrower has money in cash, he/she will need to deposit that cash in their bank and let it season two full months.

America Mortgages has loan programs that allow for 100% gift funds for Non-U.S. citizen borrowers looking to purchase U.S. Real Estate. Gift funds are money given to you by a family member or friend without expectation of repayment. This money will also need to meet the AML seasoning requirements.

Necessary Money Reserves U.S. Mortgage for Non Residents

For most programs reserves are not required.

Foreign Credit Report or Bank Reference Letter

For most programs, a foreign credit report or bank reference letter will be required for non U.S. citizens.

Required Funds in a U.S. Bank

The funds for the down payment and closing costs must be in a banking institution for 60 days (seasoned). These funds can be in either a U.S. account or non-U.S. account. Any bank statements in foreign languages require professional translation.

Minimum Loan Amount $100,000

Unlike regular loans, U.S. mortgage for non residents do have a minimum loan amount requirement. Remember that it is the loan amount, not the sales price.

If you have a specific scenario and property that you would like us to price it and give you the client’s requirements, please feel free to email [email protected].

Rental property shortage

U.S. Rental Properties for Sale

More metropolitan areas see a surge in rental market demand. Rents in U.S. increased by 14% in December 2021 – the most considerable jump in more than two years, according to an analysis conducted by Redfin. The highest surge was seen by Austin, Texas, followed by New York City and Florida, all of which exceeded over 30% increase in rental prices. According to Redfin, the East Coast areas, Austin, TX, and Portland, OR, saw the biggest growth in rent prices year-over-year. 

What does this mean for U.S. real estate investors? 

Earlier this year, we highlighted New York, NY, and Palm Beach, FL, as one of the best cities on the East Coast to buy rental property due to high rental income and great capital appreciation over the years. According to Redfin’s 10 best metro areas with the quickest rising rents, both New York, NY, and Palm Beach, FL made the cut!

If you are looking to purchase properties on the East Coast, here are the best places to invest in with the fastest-growing rent prices:

  • Austin, TX (40%)
  • Newark, NJ (35%)
  • New York, NY (35%)
  • Miami, FL (34%)
  • Palm Beach FL (34%)
  • Fort Lauderdale, FL (34%)
  • Jacksonville, FL (31%)
  • Portland, OR (29%)

Buying an Investment Property to Rent

To compare, in 2020, the average monthly rental price across the U.S. rose only 3% compared to a year earlier, as reported by Redfin. Homeowners looking to purchase U.S. real estate in these areas as a rental property would not need to worry about renters as the demand is exceptionally high. With rental prices’ biggest increase over the past year, there’s no end in sight. Homebuyers can benefit by using rental income to pay their mortgage and, at the same time, will profit from capital appreciation over the years. 

Investors, if you’re on the fence … 

America Mortgages has programs for Foreign Nationals and U.S. Expats to purchase U.S. rental properties with up to 75% financing in all 50 states. No U.S. credit is required. No income required loans available.

100% of our clients live outside of the U.S., which means ALL our loan programs are specific for these types of borrowers. Want to learn more? Schedule a call with our U.S. mortgage specialist to find out your mortgage options. [email protected]

www.americamortgages.com

U.S. Mortgage Loans...Beyond your Expectations!  

Are you a U.S. real estate investor looking for a mortgage loan but have been rejected by various banks, lenders or brokers because you are a Foreign National or a U.S. Expat? Add self-employed, being an entrepreneur, or lumpy income into the mix, and you’re really out of options. Let’s face the facts; even as a U.S. citizen living and working in the U.S., it is often hard to get a real estate mortgage loan as an investor, compound this with not living or working in the U.S., and it adds an entire layer of risk which many banks do not want to take on. 

In general, due to stringent underwriting requirements, banks are not very flexible towards entrepreneurs, non-residents, and U.S. Expats, especially with no credit footprint. Most banks operate to service the local community and focus on providing mortgage loans to borrowers for owner-occupied properties. It’s the same all over the world and makes perfect sense unless you fall out of that box. However, contrary to what banks and lenders may have told you, it is possible for non-resident investors to get a mortgage. How? With America Mortgages!

We recognised this four years ago in Global Mortgage Group, which was the very reason America Mortgages was formed. As a company, America Mortgages’ ONLY focus is providing U.S. market rate mortgage financing for Foreign Nationals and U.S. Expats. That is all we do, and no one does it better. Whether you’re looking to own a multi-family complex in Texas, purchase a vacation summer home in Florida, or want to invest in rental property in Atlanta, we got you covered. America Mortgages’ has loan programs with up to 75% LTV in all 50 states regardless of your passport or credit profile. 

Our goal at America Mortgages is to go beyond your expectations. 100% of our clients are either U.S. Expats or Foreign Nationals looking to buy U.S. property. With our U.S. Expat + mortgage program, you’ll be able to qualify just as you would if you walked into a local bank back home in the U.S. With our Foreign National program, you can qualify using ONLY the rental income of the property. Yes, that means NO personal income documents are required. 

What’s the unique thing that America Mortgages does that banks can’t? You can actually qualify for a U.S. mortgage with the following: 

  • No U.S credit needed
  • No personal income required 
  • No W2 required 
  • Qualifying based on rental income

We also offer the following based on individual client situations: 

  • Interest-only mortgages
  • 10-year fixed interest only
  • Recourse and non-recourse loans available
  • Pure asset-based lending

Here at America Mortgages, we go beyond your expectation and tap into our extensive network of lenders, and find the best possible option based on your situation. 

Self-employed? No problem! Foreign National investor? No problem! U.S. Expat with no U.S. credit? No Problem! 

Get started with our team of U.S. mortgage specialists today. [email protected]

www.americamortgages.com

Red Packets and U.S. Real Estate

CNY: The Origin & Traditions

More commonly known as Chinese New Year, the Lunar New Year is more than just the beginning of a new calendar year. The Lunar New Year is viewed as a period of gathering and rebirth, denoting the end of winter and the beginning of spring. Legend has it that a wild monster, Nian, appeared at the end of every year, attacking and killing villagers. Firecrackers and bright lights were used to scare the beast away, and the Chinese New Year festivities were born.

For two weeks, the celebration incorporates the act of giving and ceremonies that bring in luck to invoke a prosperous and blissful year ahead. It all starts on the 26th day of the last lunar month when cakes and puddings are made, believing that eating them will lead to growth and progress in the upcoming new year.

Following that, a major clean-up is done in homes on the 28th day. It’s believed that the act of cleaning frees your home from any misfortune that is collected throughout the past year.

The main feast formally happens on New Year’s Eve, with loved ones gathering around the table as the countdown to New Year begins. The main dish is, more often than not, the hot pot. The reunion dinner addresses solidarity, unity, and togetherness, with loved ones gathering to eat without apprehensions or quarrels over food.

The menu is painstakingly picked to incorporate dishes related to luck, including fish (the Chinese word for it translates to “abundance”), puddings (represents headway), and food sources that appear as gold ingots (like dumplings).

Countries that observe the Lunar New Year regularly offer three to seven days of public holidays; however, festivities aren’t finished until the fifteenth day of the first lunar month, otherwise called the Lantern Festival.

Interest in Property Peaks during CNY

During Chinese New Year, many who celebrate believe that it’s the time of good fortune and that investments and new wealth acquired during this period will be beneficial to them throughout the year. For the high net worth, new wealth comes in the form of acquiring real estate or upgrading their current investment. 

Many who are considering buying real estate often use the holidays to do their research while traveling. Pre-Covid, Chinese New Year was the most popular time of year for travel by Chinese citizens. Global cities such as the U.S., Australia, Canada, and Singapore tend to see wealthy Chinese buyers looking to purchase property. 

In the U.S., with interest rates being low, these homebuyers often use the property as a summer vacation home. It is then used as short-term rental giving the owners passive income throughout the new year.

With America Mortgage’s Holiday / Airbnb Investor Program, investors can get up to 75% LTV in all 50 states. Best part? You can get pre-approved for this loan within 72 hours, and once approved; you’ll be issued an “approval letter,” which will allow you to go shopping! It’s as easy as it sounds.

Planning to usher in the new year with a property in the U.S.? Speak to us today and get pre-approved within 72 hours! [email protected]

www.americamortgages.com

mortgage for foreigners in usa

America’s East Coast housing market is home to the best real estate to invest in the world. From sunny Florida to New York excitement, we feature the average cost per home, rental prices and cost per square foot. Where do you get the most value for your dollar? Enjoy. 

Moving or investing in America’s East Coast might be highly enticing considering its seaside locations, urban areas, and quaint towns. Last week, we compared several U.S. states against popular global cities to help you determine why you should invest in the U.S. . This week, we dive a little deeper and specifically into the East Coast, one of the most popular real estate investment destinations, to help you decide where your next or first U.S. property investment should be. We researched entry-level, mid-level, and high-end real estate from New York to Florida. We compare the prices in seven hot spots up the coast. We compare 2,000 square foot properties while considering factors such as rental income, average purchase price and price per square foot, and return on investment.  

Based on our data, the best cities on the East Coast to buy rental property are:

1. Palm Beach, FL

With its strong rental market and its location, Palm Beach makes it one of the best and most popular locations to invest in property. U.S. News & World Report ranked Florida as the 10th best state in the country with regard to education, economy, and stability. Palm Beach home values jumped 28.0% over the past year based on Zillow with no end in sight. Investors can also expect an average of $3,476 in rental income. 

LocationPalm Beach, FL
Avg Purchase PriceUSD 529,585
Avg Rental IncomeUSD 3,476
Price Per SqftUSD 264

2. Nashville, TN

The home of Elvis Presley features the trifecta; very affordable real estate, low cost of living, and high employment rate. These are just a few of the reasons why U.S. real estate investors choose to purchase in Nashville. Apart from affordability, single-family homes are a popular choice among renters, with investors earning an average of $3,162 in rental a month. According to Local Market Monitor, Nashville ranked 4th for single-family real estate investment properties.

LocationNashville, TN
Avg Purchase PriceUSD 576,397
Avg Rental IncomeUSD 3,162
Price Per SqftUSD 288

3. Atlanta, GA

The home of CNN, Atlanta’s economic growth is one of the main reasons why it has a strong rental market. With global companies like Coca-Cola, Delta, AT&T, and many Fortune 500 companies bringing in job prospects, its rental demand is sky-high. Investing in a property in Atlanta has proven to be a great potential value because of it’s low purchase price but high rental yield, on average, $2,344 a month just in rental.

LocationAtlanta, GA
Avg Purchase PriceUSD 217,118
Avg Rental IncomeUSD 2,344
Price Per SqftUSD 108

4. Baltimore, MD

One of America’s original seaports, Baltimore is known as one of the best areas to purchase an investment property for cash flow and appreciation. Given the generally low cost of properties in Baltimore, investors can anticipate getting a good return on investment and a decent rental income, on average $1,928. Furthermore, Millennials flocking to the city are causing a high demand for rentals in hot spots suburbs like Brewers Hill.

LocationBaltimore, MD
Avg Purchase PriceUSD 270,510
Avg Rental IncomeUSD 1,928
Price Per SqftUSD 135

5. Boston, MA

Constantly ranked as one of the best places to live and work in, if you are looking to invest in a metro area in a big city, Boston real estate might be the perfect solution for you. Real estate investors take home on average $2,553 just in rental income.

LocationBoston, MA
Avg Purchase PriceUSD 581,216
Avg Rental IncomeUSD 2,553
Price Per SqftUSD 290

6. Manhattan, NY 

New York City is a global center for business, finance, culture, and entertainment. It offers a perfect lifestyle and investment profile to both Americans and foreigners alike. Needless to say, Manhattan’s real estate prices are steeper than average. However, even though Manhattan’s real estate price is relatively high, its profits in the form of capital appreciation is surely something to consider. With Manhattan’s median rent at $3,450, investing in Manhattan is worth a look.

LocationManhattan, NY
Avg Purchase PriceUSD 839,692
Avg Rental IncomeUSD 5,624
Price Per SqftUSD 419

7. Providence, RI

This vibrant capital city of Rhode Island is home to Ivy League school Brown University, RI School of Design, and Providence College. The number of students Providence draws in every year impacts the real estate market directly. It’s hot rental market makes it ideal for investors, with an average rental at $5,624 a month.

LocationProvidence, RI
Avg Purchase PriceUSD 209,841
Avg Rental IncomeUSD 3,454
Price Per SqftUSD 104

Based on the list, here are the most affordable East Coast cities to invest in:

RankCitiesPurchase PriceRental IncomePrice per Sqft
1Baltimore$270,510$1,928$135
2Atlanta$217,118$2,344$108
3Boston$581,216$2,553$290
4Nashville$576,397$3,162$288
5Providence$209,841$3,454$104
6Palm Beach$529,585$3,476$264
7Manhattan$839,692$5,624$419

The most affordable East Coast city is Boston, with its average purchase price at $270,510, and the most expensive, of course, is the bustling Manhattan at $839,692. However, investors should not be put off by the higher property prices; let us show you why.

Comparison of the most expensive property vs. the least expensive property on the East Coast:

CityPurchase PriceLoan AmountLoan TenureLTVMonthly RepaymentRental Income
Baltimore270,510202,882.530-year fixed75%$894.131,928
Manhattan839,692629,54430-year fixed75%$2,774.495,624

Lets break it down further to understand the profits:

CityRental income after monthly repayment# of years to repay loanTotal profits at the end of repayment period
Baltimore$1033.8730$372,193
Manhattan$2,849.5130$1,025,823

Apples to Apples, we can deduce that even though Manhattan has a higher purchase price, with amortization and capital appreciation, investing in Manhattan gives you significant appreciation and profits.

Ready to invest in East Coast real estate?

As a company, America Mortgages’ only focus is providing U.S. mortgage financing for U.S. expats and foreign nationals. We know exactly what is required to ensure that your mortgage journey is stress-free. We qualify 97% of our client’s for a U.S. mortgage.  What are you waiting for? Schedule a call with our U.S. mortgage specialist to find out your mortgage options.  [email protected]

Next week … We travel to the Hawaiian Islands for a comprehensive look at the Aloha State real estate market! Aloha. 

www.americamortgages.com

Atanta GA & Sydney AU Real Estate

Globally real estate markets are red-hot, and even a pandemic can’t stop it. For the U.S., mortgage applications for foreigners to purchase U.S. real estate have consistently expanded year-over-year as property prices in most global cities have reached record highs. 

What makes the U.S. real estate market so enticing to investors? 

Anyone who has invested time and effort in house hunting for investment properties in Hong Kong, Singapore, Paris, London, Sydney, or Vancouver will acknowledge just how inexpensive real estate has become. Markets outside the U.S. have been increasingly hit with various cooling measures, taxes, stamp duty, and mortgage restrictions impacting real estate investors from either entering the market initially or growing their portfolios. What makes the U.S. market unique: there are no restrictions for foreign investment in any real estate asset class. The market also dictates the rise and fall of real estate values, not the government. You can buy a starter property in Texas for $200,000 or a penthouse in Miami for $10,000,000 regardless of your passport. 

Below we compare the cost of purchasing real estate in various global and U.S. cities. With up to 75% leverage in all 50 U.S. states, America Mortgages provides an opportunity for anyone to invest in U.S. real estate. You no longer need to battle with banks or pay AUM to become a successful real estate investor.

With U.S. interest rates currently at historic lows, mortgage programs are creative, including qualifying not off your personal income but off the property’s rental income, and it is available for both U.S. citizens and Non-U.S. Citizens. The ability to get up to 75% leverage with a 30-year amortization regardless of the borrower’s age increases rental yields and the affordability of investment properties. This kind of leverage is available ONLY in the U.S. market.

If you are wondering whether U.S. real estate merits putting your money into, the short answer is yes. Let’s look at various global real estate price points versus the U.S.

Price comparison of investment properties:

Price comparison of investment properties
Price comparison of Real Estate

Let’s take for example Atlanta, Georgia 2000 sqft home:

Purchase Price: $300,200

LTV: 75%

Loan amount: $225,150

Interest rate: 4.75%

Loan Tenure: 30 years

Monthly Loan repayment: $1,174

Rental Income: $2,500

With the rental yield at $2,500, your monthly repayment is $0 with a profit of $1,326 per month; that’s $15,912 per annum. Within 7.5 years, you’d have fully paid off your loan.

Looking at this, we can clearly deduce that the purchase prices and rental yield of a U.S. property prove that it is a great investment, especially when you consider Return on investment (ROI) and the option to finance your property with higher leverage. With purchase prices significantly lower than the rest of the cities globally, your rental income will cover should, at a minimum, cover your mortgage costs. Smart money management and possibly in a few years, will turn into passive income. 

According to Billionaire Andrew Carnegie, around 90% of the world’s tycoons have been created by investing in real estate. Real estate offers the most ideal way to build wealth as an investor. Likewise, with all possible types of assets and loan programs available, it is ideal to strike when the iron is hot.

If you are keen to invest in U.S. real estate as a U.S. Expat or foreign national, the first step is to get pre-approved for a mortgage. America Mortgages’ ONLY focus is providing market-rate mortgage financing for U.S. Expats and Foreign Nationals. Our most popular programs are AM No Income Mortgages+ and  AM U.S. Expat Mortgage +. However, if for some reason that doesn’t fit your profile or you prefer something more bespoke, our global mortgage team with over 100 years of combined experience is only a phone call away. So investors rejoice and connect with us today at [email protected]. 

No Income Mortgage Loans - US Home Loan

We launched the Asset Depletion Program (AM Liquid Portfolio Mortgages) for investors earlier this month, which allows candidates to qualify for a loan using their assets instead of income from employment. This week, we introduce AM No Income Required + for U.S. expats and foreign nationals!

No Income Mortgage Loans

You can now qualify to purchase or refinance a U.S. property even if you are not a U.S. citizen, do not possess a valid U.S. visa, or lack income documentation (self-employed entrepreneurs). Yup, you guessed it, this is all possible with the AM No Income Required +!

While most banks and lenders request your tax returns, no-income verification mortgages rather consider different factors like assets, home equity, and general cash flow. This makes it even easier for self-employed entrepreneurs or non-U.S. residents who have numerous write-offs on foreign tax returns to get a home loan.

Details of AM No Income Required +:

  • No income verification is needed.
  • No age limitations or restrictions.
  • No U.S. credit is required.
  • No USA visa or residency is required.
  • No reserves are required.
  • No Life insurance is required.
  • No pre-payment or redemption penalty.
  • No tax returns are required.

Sounds too good to be true? With AM No Income Required +, it is definitely feasible.

The AM No Income Required + program allows foreign nationals, non-U.S. residents, and U.S. expats to make a 25% down payment and finance up to 75% of the property value without requiring income verification. The majority of banks and lenders still require a 60% down payment for foreign national mortgage loans, but with AM No Income Required + you can arrange financing with just 25% down payment, with no income verification and with exceptional rates including interest only programs. 

The AM No Income Required + loan program is available as a 30 year fixed-rate and as adjustable-rate mortgages. Adjustable rates are offered at 3/1, 5/1, 7/1 terms for 15 or 30 year fully amortized loans. Fixed rates are offered for the 10, 15, or 30 year fully amortized loan.

  • Are you retired with little or no fixed income?
  • Are you self-employed but have little to no “provable” income?

If you answered ‘Yes’, AM No Income Required + might be the perfect program for you.

Contact us at [email protected] for more information.

www.americamortgages.com

Holiday/Airbnb Investor Program

Everyone wants to live in The Bu…

The Bu is, of course, Malibu, California… known as the mecca for Airbnb rentals as well as Charlie Sheen’s house in ‘Two and a Half Men.’

One thing the pandemic has done for all of us is force us to think about the next stages of our lives – family, kid’s education, retirement, all intertwined into where you vacation. We have seen unprecedented demand for vacation home financing over the past 12 months. This is an area where many banks will not lend given the lumpy rental income, normally from renting out on Airbnb or VRBO – but that has all changed!

A report by Redfin shows that demand for vacation homes– otherwise known as short-term rentals –is soaring at a record pace. With an active real estate market, rates hovering around historic lows, and with AM Holiday/Airbnb Investor Program, this moment is the ideal opportunity, whether you are a U.S. expat or foreign national, to consider investing in a vacation home.

Introducing AM Holiday/Airbnb Investor Program

Qualify for a U.S. mortgage loan for a U.S. property that will be used for short-term rental such as Airbnb by using only the projected rental income of the property. No longer are you having to spend hours, days, or weeks collecting tax documents, pay statements, translations, etc. AM Holiday/Airbnb Investor Program allows you to get up to 75% LTV in all 50 states. The best thing, you can get pre-approved for this loan within 72 hours, and once approved, you’ll be issued an “approval letter,” which will allow you to go shopping! It’s as easy as it sounds.

There are a few benefits to possessing a holiday investment property. As of late, Airbnb and VRBO continue to grow as an ever-increasing number of properties are being listed. The convenience of such apps has made it that much easier for homeowners to find and market vacation rentals. In turn, the number of people interested in vacation rental investments has skyrocketed. Purchasing a vacation home can be particularly engaging and ideal when you toss in these personal and financial advantages. Here are some of the benefits of investing in a vacation rental:

1. Tap into rental income

Being a second homeowner presents the chance of leasing it out when you’re away. What’s more, assuming your second home is a great property in a desirable town, transforming it into an investment property will provide you with a subsequent source of passive income. Even celebrities like Leonardo DiCaprio, Jennifer Lawrence, and 50 Cent lease their vacation properties. How cool is that? In some cases, you can even offset the costs of leasing your vacation home. You may even be able to use your vacation home to generate rental income when you aren’t there. This could turn the home into a serious passive income producer in popular tourist destinations.

2. Build home equity.

In conjunction with your vacation home being a fun place to relax, it is also a long-term investment that could flourish your wealth and diversify your portfolio. Build equity on your home as your make mortgage payments. The real estate market and home values often vary. Consequently, the choice to buy a vacation home shouldn’t be made with the assumption that the property’s value will give a colossal result later on. However, your house being located in a highly sought-after town might improve the probability of your property increasing in value over time.

Not only can you generate rental income by leasing out your property, but you also have the benefit of vacationing there yourself; now that’s pretty awesome!

3. Tax Write-offs

Investors should take advantage of the tax benefits related to vacation rentals. Your holiday home is considered a business if it is leased for at least 2 weeks per year. This is very helpful for tax purposes because although the rental’s pay will be taxed, you will be able to write off several of the vacation property’s expenses. You can deduct numerous items from your taxes, including utility expenses, costs of maintenance and repairs, property management fees, mortgage interest, and more. (please consult with your tax advisor)

4. Simplify your vacation!

Bid farewell to hotels. Your holiday home makes it simple for loved ones to gather in one place without stressing over the cost of accommodation. Regardless of whether your home is close to the beach, on a lake, or in the country, there’s a possibility this property will turn into your family’s go-to vacation for any season. By owning a vacation home, you get to decide how long you want your travel to be and who will join. What’s better is that you get to save what you would have spent on hotel or rental accommodations somewhere else!

5. Retirement preparation

A holiday home could ultimately become a full-time home. Purchasing a vacation property when you’re young could provide you with an ideal place to retire in the future. You’ll be able to pay off your home mortgage before it even turns into your main residence. After you retire, the profit from your first home can go toward the current mortgage of your vacation home.

This will successively make your retirement progress simpler, considering that you’re now acquainted with the area, community, and most of all, the home.

Regardless, putting resources into vacation rentals can be a reliable asset for the future.

Should you purchase a vacation home?

If you’re still not convinced, here are 3 other reasons why we think you should snap up this trendy opportunity:

  • Mortgage rates are still at record lows
  • Vacation homes are in trend; everyone is getting in!
  • Short-term rental opportunities with vacation homes

A 2019 study of in excess of 7,000 get-away mortgage holders who recorded their property at a vacation rental site VRBO uncovered that around 40% utilized the rental profit as a secondary income.

What is the ideal location for a summer home?

As an investor, you’d expect quick returns from your get-away rental investment; you’ll need to purchase property in an ideal area to purchase a vacation rental – a popular tourist destination. This could mean beaches, amusement parks, lakes, national parks, or even stadiums. All things considered, it’s not generally the popular destinations that attract tourists. Work travel is another significant opportunity—with a regular clientele.

Here’s a list of the top vacation home areas around the U.S., together with its median monthly rental income:

1. Whittier, North Carolina

Median home sale price: $178,000

Median Monthly Rental Revenue: $3,133

2. Killington, Vermont

Median home sale price: $208,828

Median Monthly Rental Revenue: $3,444

 3. Myrtle Beach, South Carolina

Median home sale price: $213,950

Median Monthly Rental Revenue: $2,674

4. Sevierville, Tennessee

Median home sale price: $239,976

Median Monthly Rental Revenue: $5,647

5. Davenport, Florida

Median home sale price: $255,390

Median Monthly Rental Revenue: $2,904

 6. Kissimmee, Florida

Median home sale price: $264,863

Median Monthly Rental Revenue: $3,436

 7. Gulf Shores, Alabama

 Median home sale price: $345,135

 Median Monthly Rental Revenue: $4,206

 8. Fort Bragg, California

Median home sale price: $509,500

Median Monthly Rental Revenue: $4,508 

 9. Palm Springs, California

Median home sale price: $ 539,370

Median Monthly Rental Revenue: $6,054

 10. Waikoloa, Hawaii

Median home sale price: $575,422

Median Monthly Rental Revenue $4,360

 11. Big Sky, Montana

Median home sale price: $585,000

Median Monthly Rental Revenue $6,358

Is Owning A Vacation Rental A Good Investment?

With AM Holiday/Airbnb Investor Program, we say yes! The advantage of purchasing a holiday home is that you get to spend a greater amount of your time rejuvenating. Rather than stressing about paying for a stay at a hotel each time you visit, you’ll bask in the comfort of your own abode.

Vacation properties vary from traditional rentals in that the income a vacation home generates is often subject to the season. A beach house will draw in more interest in the summer, while a place close to a ski resort will thrive in winter.

That being said, though, a vacation rental property is still an excellent method to get passive income.

The tax benefits, passive income, and the option to travel to your very own vacation home are only a portion of the benefits that investing in a rental property can bring you.

Speak to us to find out all about AM Holiday/Airbnb Investor Program specifically for U.S. expats and foreign nationals at [email protected].

www.americamortgages.com