Our client was referred to by a developer in Houston, Texas who we worked with previously. The client is a Canadian real estate investment company looking to purchase a hotel as well as in Houston, Texas. Due to the covid-19 impact on the hotel industry, the borrower was able to secure a very competitive price on a non-flagged hotel property in the U.S.<\/p>\n\n\n\n
Due to Covid-19, almost all lenders are on pause with hospitality finance requests, due to the inherent risk of the hotel industry and travel being shut down\/limited around the world.<\/p>\n\n\n\n
Our client was able to utilize a Bridge Loan to secure the purchase of the property. Once the Covid situation improves and travel opens back up, the borrower will refinance with a traditional longer term commercial loan. With the discounted purchase price, the more costly bridge loan for a few years made sense. (Also see Can a Canadian Buy a House in the USA?<\/a>)<\/p>\n\n\n\n Our client was referred to by a developer in Houston, Texas who we worked with previously.<\/p>\n","protected":false},"author":8,"featured_media":3268,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"templates\/template-single-post.php","format":"standard","meta":{"_acf_changed":false,"qubely_global_settings":"","qubely_interactions":"","inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[27,26,19,14,23],"tags":[37],"am_country":[],"am_audience":[],"am_format":[],"class_list":["post-1308","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-case-studies","category-bridge","category-commercial","category-foreign-nationals","category-purchase","tag-canadian"],"acf":[],"qubely_featured_image_url":{"full":["https:\/\/www.americamortgages.com\/wp-content\/uploads\/2021\/03\/C3-min.jpg",2034,1365,false],"landscape":["https:\/\/www.americamortgages.com\/wp-content\/uploads\/2021\/03\/C3-min.jpg",1118,750,false],"portraits":["https:\/\/www.americamortgages.com\/wp-content\/uploads\/2021\/03\/C3-min.jpg",477,320,false],"thumbnail":["https:\/\/www.americamortgages.com\/wp-content\/uploads\/2021\/03\/C3-min-150x150.jpg",150,150,true],"medium":["https:\/\/www.americamortgages.com\/wp-content\/uploads\/2021\/03\/C3-min-300x201.jpg",300,201,true],"medium_large":["https:\/\/www.americamortgages.com\/wp-content\/uploads\/2021\/03\/C3-min-768x515.jpg",580,389,true],"large":["https:\/\/www.americamortgages.com\/wp-content\/uploads\/2021\/03\/C3-min-1024x687.jpg",580,389,true],"1536x1536":["https:\/\/www.americamortgages.com\/wp-content\/uploads\/2021\/03\/C3-min-1536x1031.jpg",1536,1031,true],"2048x2048":["https:\/\/www.americamortgages.com\/wp-content\/uploads\/2021\/03\/C3-min.jpg",2034,1365,false],"qubely_landscape":["https:\/\/www.americamortgages.com\/wp-content\/uploads\/2021\/03\/C3-min.jpg",1118,750,false],"qubely_portrait":["https:\/\/www.americamortgages.com\/wp-content\/uploads\/2021\/03\/C3-min.jpg",477,320,false],"qubely_thumbnail":["https:\/\/www.americamortgages.com\/wp-content\/uploads\/2021\/03\/C3-min.jpg",140,94,false],"post-thumbnail":["https:\/\/www.americamortgages.com\/wp-content\/uploads\/2021\/03\/C3-min-1200x805.jpg",1200,805,true],"twentytwenty-fullscreen":["https:\/\/www.americamortgages.com\/wp-content\/uploads\/2021\/03\/C3-min-1980x1329.jpg",1980,1329,true]},"qubely_author":{"display_name":"Dipti K.","author_link":"https:\/\/www.americamortgages.com\/author\/dipti-k\/"},"qubely_comment":0,"qubely_category":"Case Studies<\/a> Bridge<\/a> Commercial<\/a> Foreign Nationals<\/a> Purchase<\/a>","qubely_excerpt":"Our client was referred to by a developer in Houston, Texas who we worked with previously.","_links":{"self":[{"href":"https:\/\/www.americamortgages.com\/wp-json\/wp\/v2\/posts\/1308","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.americamortgages.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.americamortgages.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.americamortgages.com\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.americamortgages.com\/wp-json\/wp\/v2\/comments?post=1308"}],"version-history":[{"count":16,"href":"https:\/\/www.americamortgages.com\/wp-json\/wp\/v2\/posts\/1308\/revisions"}],"predecessor-version":[{"id":12013,"href":"https:\/\/www.americamortgages.com\/wp-json\/wp\/v2\/posts\/1308\/revisions\/12013"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.americamortgages.com\/wp-json\/wp\/v2\/media\/3268"}],"wp:attachment":[{"href":"https:\/\/www.americamortgages.com\/wp-json\/wp\/v2\/media?parent=1308"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.americamortgages.com\/wp-json\/wp\/v2\/categories?post=1308"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.americamortgages.com\/wp-json\/wp\/v2\/tags?post=1308"},{"taxonomy":"am_country","embeddable":true,"href":"https:\/\/www.americamortgages.com\/wp-json\/wp\/v2\/am_country?post=1308"},{"taxonomy":"am_audience","embeddable":true,"href":"https:\/\/www.americamortgages.com\/wp-json\/wp\/v2\/am_audience?post=1308"},{"taxonomy":"am_format","embeddable":true,"href":"https:\/\/www.americamortgages.com\/wp-json\/wp\/v2\/am_format?post=1308"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Loan Details<\/h3>\n\n\n\n
Nationality<\/td> Property Value<\/td> Loan Amount<\/td> LTV<\/td> Rate<\/td><\/tr> Canada-based
Investment Company<\/td>$3,100,000<\/td> $1,550,000<\/td> 50%<\/td> 8.99%<\/td><\/tr> <\/tr><\/tbody><\/table><\/figure>\n\n\n\n Term<\/td> State<\/td> Property Type<\/td> Purpose<\/td> Loan Type<\/td><\/tr> 2 years with
possible extensions<\/td>Houston, Texas<\/td> Hotel \u2013
Non-Flagged<\/td>Purchase<\/td> Bridge<\/td><\/tr><\/tbody><\/table><\/figure>\n","protected":false},"excerpt":{"rendered":"