Our client is a Canadian attorney and real estate investor looking to shift his real estate portfolio for multi-family U.S. property in California for retirement income. The property is a three multi-unit home in Venice Beach (2) and Long Beach (1), California, with net yields of 16%.
How We Helped
To secure the yield needed, the client required a mortgage below 5%.
Although the client earned excellent income and was an experienced real estate investor, the lack of U.S. credit created issues each time he approached a California bank or broker for financing.
As AMFNLite Program allows the borrower to use a “local” credit report, it solved the issue of not having U.S. credit. The rate required was merely an adjustment in LTV, giving the borrower a fixed rate on each property below 5%. (Also see Can a Canadian Buy a House in the USA?)
|Nationality||Property Value||Loan Amount||LTV||Rate|
|Term||Address||Property Type||Purpose||Loan Type|
|3/1 ARM||Venice Beach, California||Single-Family Home||Purchase||Residential|