The Client
Our client was a self-employed U.S. expat living in London wanted to buy a property for his daughter attending school in Boston. After his daughter finished her first year of school, he wanted to buy an apartment near the university where should could live and split the costs with her school friends. He wanted to give his daughter a nice, safe place to live and invest in an income producing property.
How We Helped
Our America Mortgages loan officer based in London structured our AM Student+ loan, which allowed the client to qualify based on the proposed rental income and not the client’s personal income. As a self-employed business owner that had a difficult time showing his true debt servicing ability, this was an ideal solution.
The client purchased the property, and her daughter moved in and rented the other two rooms to her friends, who paid 80% of the mortgage payment. This was a smart investment with a well-structured U.S. mortgage program.
Loan Details
| Nationality | Property Value | Loan Amount | LTV | Rate |
| U.S. Citizen [Expat] | $485,000 | $339,500 | 75% | 7.825% |
| Term | Address | Property Type | Purpose | Loan Type |
| 30-Year Fixed Interest Only | Brighton, MA | Apartment/Condo | Purchase | Residential |
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