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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