Our gift to you – No Income Mortgage Loans are back!

No Income Mortgage Loans

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

U.K. marketing VP buys investment condo in Philadelphia to boost passive income.

America mortgages

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

NationalityProperty ValueLoan AmountLTVRate
U.K Citizen$260,000$195,00070%6.125% Interest servicing only payments
TermAddressProperty TypePurposeLoan Type
5/1 ARMPhiladelphia, PennsylvaniaDuplex ResidencePurchaseResidential