A U.S. Expat living in Hong Kong working in the IT field.
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.
To secure a lower rate and term mortgage to increase their rental yield.
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.
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 Type||Property Value||Loan Amount||LTV||GMG Program|
|Refinance Cash-Out||$510,000||$341,700||67%||GMGUS Expat-1|
|Loan Type||Refinance Cash-Out|
|GMG Program||GMGUS Expat-1|