The Client

A married Chinese couple with a five-year goal of having their children study in NYC purchase a luxury condo. They were non-U.S. citizens with no U.S. credit looking for 65% LTV.

How We Helped

The pair were looking for a safe, investment grade condo near NYU for their twin boys to study at the same university as their family in 5 years. There was a luxury two-bedroom Washington Square condo within walking distance to NYU that they wanted to buy.

The property was being sold as “fire-sale,” and clients needed to act quickly as there were multiple back-up offers.

As time was of the essence, the clients did not have time to organize their financials. America Mortgage suggested a quick close with a Bridge and then, within six months, refinance into a long-term, fixed mortgage at a significantly lower rate.

Loan Details

NationalityProperty ValueLoan AmountLTVRate
China. Citizen $8,600,000 $5,600,000 65% 7.99% interest only
Term Address Property TypePurposeLoan Type
24 months New York City, New York Condo Purchase Bridge Loan
Nationality China. Citizen
Property Value$8,600,000
Loan Amount$5,600,000
Rate 7.99% Interest Only
Term3/1 ARM
Address New York City, New York
Property Type Condo
Purpose Purchase
Loan TypeBridge Loan

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