A married Singaporean couple in their early 70s living in Singapore with a small portfolio of U.S. investment property. The wife works and owns a small marketing company while the husband is retired. In addition to their home, the pair also own two rental properties.<\/p>\n\n\n\n
On advice from their trusted attorney, they were also hoping to increase their LTV to mitigate U.S. inheritance tax and convert their current rental mortgage into an interest-only to increase their yield.<\/p>\n\n\n\n
The property was an impressive six-bed family home in Vail, Colorado. The couple had purchased the house over 20 years ago when living and working in the U.S.<\/p>\n\n\n\n
The pair were looking to reduce their credit card debt and help their son purchase a home in Singapore.<\/p>\n\n\n\n
In total, they were looking to raise $300,000. They had requested a five-year fixed rate on interest-only terms. The clients felt that their advanced age and low income would decrease the finance options available.<\/p>\n\n\n\n
The clients were not current on their U.S. tax filings for their rental property, were in their late 70s, and had sufficient but not well-documented income.<\/p>\n\n\n\n
As a significant amount of their income was based on future contracts, but their cash-flow was sufficient to service their debt, we suggested our FNStated program, enabling the borrowers to qualify for a higher LTV based on projected income and net rental income from the property.<\/p>\n\n\n\n
Age wasn\u2019t a factor, as it is illegal to discriminate against age in the U.S. America Mortgage was able to structure a 30 year amortized mortgage with a 5-year interest-only period giving the needed $300,000 cash in hand and reducing their monthly debt servicing by 13%, thus increasing their yield.<\/p>\n\n\n\n
| Nationality<\/td> | Property Value<\/td> | Loan Amount<\/td> | LTV<\/td> | Rate<\/td><\/tr> | |||||
| Singapore Citizen<\/td> | $1,600,000<\/td> | $323,000<\/td> | 20%<\/td> | 5.75% interest only<\/td><\/tr> | |||||
| Term<\/td> | Address<\/td> | Property Type<\/td> | Purpose<\/td> | Loan Type<\/td><\/tr> |
| 10\/1 ARM<\/td> | Vail, Colorado<\/td> | Single-Family Home<\/td> | Purchase and Refinance<\/td> | Residential<\/td><\/tr><\/tbody><\/table><\/figure>\n","protected":false},"excerpt":{"rendered":" A married Singaporean couple in their early 70s living in Singapore with a small portfolio of U.S. investment property.<\/p>\n","protected":false},"author":8,"featured_media":3269,"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":[27,14,23,15,24],"tags":[],"am_country":[],"am_audience":[],"am_format":[],"class_list":["post-3146","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-case-studies","category-foreign-nationals","category-purchase","category-refinance","category-residential"],"acf":[],"qubely_featured_image_url":{"full":["https:\/\/www.americamortgages.com\/wp-content\/uploads\/2021\/03\/C23.jpg",2034,1365,false],"landscape":["https:\/\/www.americamortgages.com\/wp-content\/uploads\/2021\/03\/C23.jpg",1118,750,false],"portraits":["https:\/\/www.americamortgages.com\/wp-content\/uploads\/2021\/03\/C23.jpg",477,320,false],"thumbnail":["https:\/\/www.americamortgages.com\/wp-content\/uploads\/2021\/03\/C23-150x150.jpg",150,150,true],"medium":["https:\/\/www.americamortgages.com\/wp-content\/uploads\/2021\/03\/C23-300x201.jpg",300,201,true],"medium_large":["https:\/\/www.americamortgages.com\/wp-content\/uploads\/2021\/03\/C23-768x515.jpg",580,389,true],"large":["https:\/\/www.americamortgages.com\/wp-content\/uploads\/2021\/03\/C23-1024x687.jpg",580,389,true],"1536x1536":["https:\/\/www.americamortgages.com\/wp-content\/uploads\/2021\/03\/C23-1536x1031.jpg",1536,1031,true],"2048x2048":["https:\/\/www.americamortgages.com\/wp-content\/uploads\/2021\/03\/C23.jpg",2034,1365,false],"qubely_landscape":["https:\/\/www.americamortgages.com\/wp-content\/uploads\/2021\/03\/C23.jpg",1118,750,false],"qubely_portrait":["https:\/\/www.americamortgages.com\/wp-content\/uploads\/2021\/03\/C23.jpg",477,320,false],"qubely_thumbnail":["https:\/\/www.americamortgages.com\/wp-content\/uploads\/2021\/03\/C23.jpg",140,94,false],"post-thumbnail":["https:\/\/www.americamortgages.com\/wp-content\/uploads\/2021\/03\/C23-1200x805.jpg",1200,805,true],"twentytwenty-fullscreen":["https:\/\/www.americamortgages.com\/wp-content\/uploads\/2021\/03\/C23-1980x1329.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> Foreign Nationals<\/a> Purchase<\/a> Refinance<\/a> Residential<\/a>","qubely_excerpt":"A married Singaporean couple in their early 70s living in Singapore with a small portfolio of U.S. investment property.","_links":{"self":[{"href":"https:\/\/www.americamortgages.com\/wp-json\/wp\/v2\/posts\/3146","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=3146"}],"version-history":[{"count":8,"href":"https:\/\/www.americamortgages.com\/wp-json\/wp\/v2\/posts\/3146\/revisions"}],"predecessor-version":[{"id":16272,"href":"https:\/\/www.americamortgages.com\/wp-json\/wp\/v2\/posts\/3146\/revisions\/16272"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.americamortgages.com\/wp-json\/wp\/v2\/media\/3269"}],"wp:attachment":[{"href":"https:\/\/www.americamortgages.com\/wp-json\/wp\/v2\/media?parent=3146"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.americamortgages.com\/wp-json\/wp\/v2\/categories?post=3146"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.americamortgages.com\/wp-json\/wp\/v2\/tags?post=3146"},{"taxonomy":"am_country","embeddable":true,"href":"https:\/\/www.americamortgages.com\/wp-json\/wp\/v2\/am_country?post=3146"},{"taxonomy":"am_audience","embeddable":true,"href":"https:\/\/www.americamortgages.com\/wp-json\/wp\/v2\/am_audience?post=3146"},{"taxonomy":"am_format","embeddable":true,"href":"https:\/\/www.americamortgages.com\/wp-json\/wp\/v2\/am_format?post=3146"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}} |