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 Type | Property Value | Loan Amount | LTV | GMG Program |
| Purchase | $4,350,000 | $2,697,000 | 62% | GMGFN Lite |
| Loan Type | Purchase |
| Property Value | $4,350,000 |
| Loan Amount | $2,697,000 |
| LTV | 62% |
| GMG Program | GMGFN Lite |
- Live Abroad, Invest Anywhere: Mortgage Solutions for Global Investors
- How to Get Global Real Estate Loans with No Local Credit or Residency
- The Secret to Financing International Property as a Non-Resident
- Non-Resident Guide to Singapore Property Bridging Loans
- Avoid This Mistake: Trying to Buy International Property Without a Mortgage Plan
