The Client
A U.S. Expat living in Hong Kong working in the IT field.
The Property
A 4 bedroom Tempe, Arizona home which use to be the family’s residence and now used as a short term rental so the family can use over the summer school holidays.
The Deal
To secure a lower rate and term mortgage to increase their rental yield.
The Challenge
Client was working for a global company. He was current on his US tax filings but his income was foreign earned, no “normal” payslip, no U.S. bank account and no W2.
The Solution
Once we had all the required documentation settled, we packaged the loan and shopped for the best rate and terms. GMG helped the client structure several letters of explanation regarding how his income was calculated and the use of the rental property (AirBnB).
A formal mortgage offer was received within ten working days and closed shortly thereafter. Client was able to lower his current interest rate by a full percent, on a 30 year fixed savings thousands in long term financing costs.
Loan Details
| Loan Type | Property Value | Loan Amount | LTV | GMG Program |
| Refinance Cash-Out | $510,000 | $341,700 | 67% | GMGUS Expat-1 |
| Loan Type | Refinance Cash-Out |
| Property Value | $510,000 |
| Loan Amount | $341,700 |
| LTV | 67% |
| GMG Program | GMGUS Expat-1 |
