Singapore PR uses GMG bridge loan

Singapore Mortgages

The Client

Singapore PR with a penthouse condo in Sentosa.

The Property

Luxury penthouse condo in Sentosa valued at S$9m.

The Deal

To secure S$3,500,000 to buy out client’s business partner.

The Challenge

Client’s business struggled over the past couple years and showing cash flow was a challenge. This situation was only temporary as buying out his business partner and merging with another entity would provide significant income in the following year.

The Solution

GMG's solution, in the form of a bridge loan, was to get an asset based loan which didn’t look at the current client’s financials but took into consideration the business plan once the buyout and merger was completed.

Loan Details

Loan TypeProperty ValueLoan AmountLTVGMG Program
Bridge - cash out$9,000,000$3,500,00039%GMGSG Bridge
Loan TypeBridge - cash out
Property Value$9,000,000
Loan Amount$3,500,000
LTVup to 80%
39%GMGSG Bridge
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American School in Bangkok offers GMG U.S. home mortgage seminar for their teachers and staff

Singapore Mortgages

The Client

One of the American curriculum schools in Bangkok wanted to offer their teachers the benefit of learning about U.S. mortgage loans.

The Property

Multiple locations

The Deal

GMG U.S. mortgage financing seminar explains the pros/cons of obtaining a U.S. mortgage in a clever and informative two hour class.

The Challenge

Foreign earned income. No W2 for U.S. citizens. Lack of credit. Some teachers not being U.S. citizens.

The Solution

GMG loan officers explained the options for U.S. Expats and for non U.S. citizens on how they can purchase or refinance U.S. real estate specifically for their situation. Being an Expat shouldn’t keep you from getting the exact benefits as any U.S. citizen when allying for a U.S. home loan. GMG are experts in U.S. Expat financing.

Loan Details

Loan TypeProperty ValueLoan AmountLTVGMG Program
Purchase or Refinance (class)min property value $150,000 min $100,000 - max $5,000,000up to 80%GMGUS Expat-2
Loan TypePurchase or Refinance (class)
Property Valuemin property value $150,000
Loan Amountmin $100,000 - max $5,000,000
LTVup to 80%
GMG ProgramGMGUS Expat-2
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Overseas Investor uses GMG bridge loan to purchase cannabis facility

Singapore Mortgages

The Client

Indonesian business man with numerous business and real estate assets around the world.

The Property

Mixed use commercial property in Reno, Nevada.

The Deal

To secure a 12 month bridge loan to purchase another property in California.

The Challenge

Client had several business around the world, Indonesia, US, Canada and Thailand. While some businesses have been very successful others have struggled due to increased competition and tighter regulation. Showing current financials would be challenging.

The Solution

GMG engaged a pocket asset based lender with the understanding of the complex financial structure of each business/entity. Equity release from the commercial property in Reno, NV was sufficient enough to structure a purchase. 12 months later both properties were refinanced into low interest commercial structure loans.

Loan Details

Loan TypeProperty ValueLoan AmountLTVGMG Program
Refinance / cash out$3,450,000$1,500,00043%GMGUS Bridge 1
Loan TypeRefinance / cash out
Property Value$3,450,000
Loan Amount$1,500,000
LTV43%
39%GMGUS Bridge 1
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Singapore real estate investors eyes U.S. property in California for higher yield returns

High Net Worth Mortgage Broker

The Client

Senior Singapore attorney and real estate investors looking to shift his real estate portfolio for multi-family U.S. property in California for retirement income.

Purchase of three multi-unit homes in Venice Beach (2) and Long Beach (1), California with net yields of 16%.

The Property

A luxury two bedroom Washington Square condo within walking distance to NYU.

The Deal

To secure the yield needed, the client needed a mortgage below 5%.

The Challenge

Although the client earned excellent income, and experienced real estate investor the lack of U.S. credit created a road block each time he approached a California bank or broker for financing.

The Solution

As GMGFN Lite allows the borrower to use a “local” credit report, this case his Singapore credit report the issue of not having U.S. credit was resolved. The rate required was merely an adjustment in LTV, giving the borrower a fixed rate on each property below 5%.

Loan Details

Loan TypeProperty ValueLoan AmountLTVGMG Program
Purchase$4,350,000 $2,697,000 62%GMGFN Lite
Loan TypePurchase
Property Value$4,350,000
Loan Amount$2,697,000
LTV62%
GMG Program GMGFN Lite
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Chinese National closes US$5.6m purchase with GMG Bridge

High Net Worth Mortgage Broker

The Client

A married Chinese couple with a five-year goal of having their children study in NYC purchase a luxury condo.

The pair were looking to for a safe, investment grade condo near NYU for their two twin boys to study at the same university as their family in 5 years.

The Property

A luxury two bedroom Washington Square condo within walking distance to NYU.

The Deal

Non US citizen with no US credit. Looking for 65%LTV.

The Challenge

Property was being sold “fire-sale” and clients needed to act quickly as there were multiple back-up offers.

The Solution

As time was of the essence, the clients did not have time to organize their financials GMG suggested a quick close with GMG Bridge and then within six months refinance into a long term, fixed mortgage at a significantly lower rate.

Loan Details

Loan TypeProperty ValueLoan AmountLTVGMG Program
Bridge Purchase$5,600,000 $3,640,000 65%GMGFN Bridge
Loan TypeBridge Purchase
Property Value$5,600,000
Loan Amount$3,640,000
LTV65%
GMG ProgramGMGFN Bridge
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UK citizen living in Hong Kong expands his US Real Estate portfolio with only 25% down using only the income generated from the property

High Net Worth Mortgage Broker

The Client

British Marketing Director living in Hong Kong. Owns several small properties in the Atlanta area, and wanted to add to his holding in US real estate.

The Property

4 bedroom, 3 bath, 3200 sq. ft home with a pool in Orlando, Florida.

The Deal

The client needed to release equity from two of his existing properties in Atlanta to get the down payment for the purchase of a new Florida property.

The Challenge

The main challenge we had was the client was already in contract and the loan was declined by an international bank two weeks into the process due to DTI (debt to income) issues.

The Solution

As GMG is a super broker, we were able to immediately see the issue, discuss the options with the client on affordability. Once it was understood the client intended on using this property as an investment, GMG was able to structure the loan using only the rental income to service the debt. Existing two rental properties were refinanced in sync with the closing of the purchase.

Loan Details

Loan TypeProperty ValueLoan AmountLTVGMG Program
Refinance and Purchase $675,000 $506,250 75%GMGFN Lite
Loan TypeRefinance and Purchase
Property Value$675,000
Loan Amount$506,250
LTV75%
GMG ProgramGMGFN Lite
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How to apply for U.S. Mortgages as a Foreign National?

Canadian Mortgages

How to apply for U.S. Mortgages as a Foreign National?

Did you know with GMG, Foreign Nationals can apply for U.S. Mortgages without stepping into the country? You don't even need any U.S. Credit or U.S Income! Join Donald Klip, the Co-Founder of Global Mortgage Group to learn more!

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Procuring Mortgages for U.S. Citizens Living Overseas.

Canadian Mortgages

Procuring Mortgages for U.S. Citizens Living Overseas.

Obtaining U.S. Mortgages from Overseas is in itself a huge challenge and with the current market scenario, there are very few who would be willing to create lending opportunities for our clients.
In this Webinar, we discuss how U.S. Expats can procure a mortgage from overseas and different techniques to lower their interest rates.

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Couple In Their 70s Refinance Their Existing Investment Property To Release Cash

High Net Worth Mortgage Broker

The Client

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 whilst the husband is retired. In addition to their home, the pair also own two rental properties.

On advice from their trust 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.

The Property

A large 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..

The pair were looking to reduce their credit card debt, and help their son purchase a home in Singapore.

The Deal

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 of the applicants and their low income would decrease the finance options available.

The Challenge

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.

The Solution

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 which would enable to the borrowers to qualify for a higher LTV based off projected income and net rental income from the property.

Age wasn’t a factor, as it is illegal to discriminate against age in the U.S.. GMG 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.

Loan Details

Loan TypeProperty ValueLoan AmountLTVGMG Program
Refinance Cash-Out $1,450,000 $1,087,000 75%GMGFN Stated
Loan TypeRefinance Cash-Out
Property Value$1,450,000
Loan Amount$1,087,000
LTV75%
GMG ProgramGMGFN Stated
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