The Client
Our client had read about the tight housing supply in major college towns. He did some research and found Philadelphia as the best value.
How We Helped
Our client wanted to purchase a duplex very close to a university where he could rent to students. He had no U.S. credit, and to add to the complexity, he was self-employed and didn’t show his true ability to service the debt. We were able to get him 75% financing using his U.K. credit, and the debt servicing was structured solely around the projected rental income of the property he was buying.
Loan Details
| Nationality | Property Value | Loan Amount | LTV | Rate |
| U.K Citizen | $260,000 | $195,000 | 70% | 6.125% Interest servicing only payments |
| Term | Address | Property Type | Purpose | Loan Type |
| 5/1 ARM | Philadelphia, Pennsylvania | Duplex Residence | Purchase | Residential |
| Nationality | U.K. Citizen |
| Property Value | $260,000 |
| Loan Amount | $195,000 |
| LTV | 75% |
| Rate | 6.125% Interest servicing only payments |
| Term | 5/1 ARM |
| Address | Philadelphia, Pennsylvania |
| Property Type | Duplex Residence |
| Purpose | Purchase |
| Loan Type | Residential |
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Cameron Alexander
Foreign National (Australia)
