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usbridgeloans · 1 year

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Taking the Pain out of High Net Worth mortgages for U.S. Real Estate, without AUM requirements

With inexpensive funding and various tax advantages, everyone should take advantage of the benefits of a mortgage when investing in U.S. real estate regardless of the loan size. However, why do the wealthy often find it increasingly difficult to obtain mortgage financing without AUM?

With a portfolio of assets worth millions of dollars, one may assume that securing credit would be a straightforward task for a high net worth (HNW) individual. Unfortunately, the reality can be quite different especially if you’re a foreign national or U.S. Expat.

The unique nature of a HNW’s wealth – their income, investments, and liquidity – puts this group of people at a surprisingly high risk of being turned away by conventional banks unless they are willing to deposit a significant amount of funds for the bank to manage. This is certainly true in the mortgage market, and what’s more, it is an issue that has become more prevalent post-Covid.

American Mortgages has a dedicated HNW Team that focuses on mortgage solutions for foreign nationals and U.S. expatriate clients.

“As a company, our focus is finding solutions that go beyond what Private Banks can offer was the cornerstone of why this has been so successful. Our goal is to be a viable solutions provider and a trusted partner for the private banks and their clients. None of our loans require AUM, hence there are no funds taken away from their current investments or portfolio.” – Robert Chadwick, co-founder of Global Mortgage Group and America Mortgages.

America Mortgages HNW mortgage loans have a multitude of options when it comes to qualifying for a large mortgage loans regardless of the passport you hold.

Asset Depletion – a surprisingly simple way to establish your income. AM Liquid Portfolio uses a unique view on “asset depletion” to qualify HNW clients using their investment portfolio without an encumbrance or pledge of assets. Essentially, all of your assets are entered into a calculation, and a final number is churned out. The final number is then used as the income to qualify. In most cases, as long as the income is sufficient, no other person’s income documentation is required. This makes an often complicated and tedious process simple, transparent, and painless.

Debt Service Coverage – When it comes to HNW borrowers, one of the most overlooked and misunderstood loan programs is debt service coverage. HNW borrowers tend to own multiple properties in various asset classes. If the property is used as a rental, then there may not be any requirement to go through the tedious process of providing and verifying personal income. Again, as HNW borrowers tend to have very complicated tax returns, this is a straightforward way to show the borrower’s debt serviceability.

Debt service coverage ratio– or DSCR – is a metric that measures the borrower’s ability to service or repay the annual debt service compared to the amount of net operating income (NOI) the property generates. DSCR indicates whether a property is generating enough income to pay the mortgage. For real estate investors, lenders use the debt service coverage ratio as a measurement to determine the maximum loan amount.

Bridge/Asset Based Lending – With Covid still in play, it’s not uncommon for investors to experience a temporary liquidity event. Rather than selling their property, they are using their real estate to release equity. Asset-based lending is an option for both residential (non-owner-occupied) and commercial properties.

Simply stated, HNW bridge loans are used for residential and commercial investment property when more traditional institutional financing sources may not be available. Due to temporary liquidity, many borrowers have capital needs that traditional sources often can’t meet. For example, a borrower purchases property out of bankruptcy or foreclosure and needs to close quickly “same as cash” before long term financing can be arrange.

Simplified Income – HNW borrowers often have personal and business tax returns, which are complicated. The complexity of these returns often turns into an administrative nightmare for the borrower when dealing with a mortgage lender. What makes America Mortgages unique is the fact that 100% of our clients are living and working outside of the U.S. We are dealing with HNW clients from Shanghai to Sydney. Simply put, translations and understanding tax codes, deductions, net income, etc., is painful.

America Mortgages HNW Simplified Income documentation is just that. We do not require years or, in some cases, decades of tax returns, P&L, A&L, bank statements, etc. We take an often complicated process and simplify it; 1. If you’re self-employed, we will request a letter from your accountant stating the last two years’ income and current YTD. 2. If you’re employed, then a letter from your employer on company letterhead stating your last two years’ income and current YTD is sufficient. Yes, it’s that simple and painless.

As 100% of our clients are either Foreign Nationals or U.S. Expats, we understand the intricacies and complexities of this type of lending for our borrowers. It’s as simple as that. Our HNW loan programs are structured to meet our client’s requirements. Providing competitive pricing with the assurance that your loan will close is our only focus, and no one does it better.

For more information, Visit: https://usbridgeloans.com/taking-the-pain-out-of-high-net-worth-mortgages-for-u-s-real-estate-without-aum-requirements/

#Real Estate Financing Company #Short Term Mortgage #Global Mortgage Group

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miniatureliterature · 1 year

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The universe can stop now. It can stop. I’ve had enough now, it can chill out. I’m good. It can stop.

#for god’s sake #i’m nine months pregnant #our new washing machcine bought in feb is defective #and i’ve been fighting for a repair or preferrably a return for 3 straight weeks #with seemingly no progress #bc as soon as it was fixed it broke again #no one told us when we bought our house 2 yrs ago we’d have to file for primary residency #so our taxes jumped up 58.6% and our mortgage company raised our mortgage $600 more a month to compensate #i’ve had to call so many county clerks offices to retroactively try to fix that and bring it down #but they’re on a time scale of 6-8 weeks #which mathing out from when i got the paperwork filed is my due date or 2 weeks after #and the bank got part of it fixed but isn’t applying it to our next payment yet #our insurance decided now was the time to require us to use their online pharmacy for ‘maintenance drugs’#but took 2 weeks to tell me if my pregnancy stuff was considered maintenance bc it’s short term #i’m having to try and get a company to pay for the medical bills from my er trip when i got food poisoning #and it took me dozens of calls just to figure out what bills were coming from where and how much #i’m going to four med appts per week bc i’m stupid high risk #and can’t eat anything without intensive math because of this stupid gestational diabetes #to the point where i can’t even have unsweetened applesauce in my cottage cheese anymore bc that’s started spiking my blood sugar #found that out today #and on top of it all #i just had to call our internet company #bc i saw a $130 bill and was like that can’t be right #but no #it is #the promotion i was put on in november that i was told would last 6 months and keep our bill down to $60 a month #oh no #it was marked for expiration on march 3rd no matter what #and every other thing i was told about it was a lie and now i have to face living with it or finding a new company and i’m tired #just. please can everything just sort itself out so when i go into labor i don’t have to think about any of this shit

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roki58750 · 10 days

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investingdrone · 1 month

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#business loan #loans #financial planning #home loan #short term loans uk #thor ragnarok #mortgage #personal loans #same day payday loans #finance

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superbpandaqueen · 2 months

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bishawverma-blog · 3 months

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#home loan #business loan #loans #personal loans #same day payday loans #short term loans uk #mortgage #insurance #budget

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singaporebridging · 4 months

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How to use your home equity to access immediate cash flow for investments

Get immediate cash flow for investments through home equity!

As the clear leader in high-value bridging loans in Singapore, with numerous awards in recent years, we understand the benefits of bridging loans and how they can help local Singaporeans with their cash flow.

What is a bridging loan?

A bridging loan is an asset-based, short-term loan designed to “bridge” the gap between immediate financial needs and longer-term funding options. Singapore bridging loans have gained popularity as a quick and flexible solution for urgent financial requirements.

Whether you are a property buyer, seeking real estate investments, or a business owner in need of quick capital, Bridging Loans offer easy and rapid access to funds. They are also referred to as bridge financing, swing loans, and caveat loans.

How do bridging loans work?

Bridging loans serve as a temporary financial solution, typically requiring repayment within a few months to a couple of years. These short-term loans are secured against valuable assets, such as real estate or other properties. Bridging loans offer a quick and versatile option for various needs.

In this case, we focus on using Singapore real estate as the asset to collateralize and access funding.

Bridging loan case study:

Singapore businessman is offered an opportunity to purchase a hotel for $5M, a significant discount from the book value of $10M, but needs funding within 30 days!

The client contacted GMG to explore how to use their landed property as a liquidity tool to access cash flow.

Step 1. Assess the value of your Singapore real estate through an appraisal. For example, the property value in this case is $10M.

Step 2. Arrange a private loan for 70% of the appraised value. In this case, $10M x 70% = $7M loan amount.

Step 3. Any existing mortgage must be paid off first. For instance, say there is an existing mortgage with UOB for $2M: $7M loan amount – $2M existing mortgage = $5M net loan amount.

Step 4. The client uses $5M to acquire the distressed hotel, immediately doubling its value to $10M: a 100% net asset value for the client!

How can you use a bridging loan?

Property purchases: Bridging loans are commonly used in real estate transactions to secure dream homes while awaiting the sale of existing property, ensuring a seamless transition.

Property development: Property developers use bridging loans to fund construction or renovation projects, enabling them to start promptly and capitalise on favourable market conditions

Business expansions: Temporary Bridging Loans bridge cash flow gaps during business expansions and enable seizing growth opportunities

Auction financing: Bridging loans can provide the solution for immediate funding that are required for auction purchases

Opportunistic investments: Savvy investors use short-term bridging finance to take advantage of time-sensitive investment opportunities.

Why bridging loans?

Not only do bridging loans have a variety of potential uses, but they also offer unique benefits:

Immediate access to finds

Online application form

Flexible repayment options (including interest)

Increased liquidity

Minimal required documents

Smooth property transitions

Free loan assessment

How can GMG help?

GMG offers exclusive opportunities with bespoke bridging funds:

High loan-to-value (LTV) – funding of up to 75%, tailored to customers’ individual needs, which traditional banks tend to not consider

Ease of qualification – focus on qualification based on property value rather than personal financials (e.g., age, income, and Total Debt Servicing Ratio (TDSR)) unlike with a bank bridging loan

Speedy approval process – bridging loans are approved within 24 hours and funded in as quickly as 3 days.

GMG provides bridging funds not only within Singapore but also offers similar financing solutions in the United States, United Kingdom, France, Canada, Australia, Thailand, Philippines, and Hong Kong.

#Temporary Bridging Loans #Bridging Loans #Bridging Loan Singapore #Singapore Bridging Loan #Short Term Loan Singapore #Mortgage Bridge Loan

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tabithahobson · 7 months

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Do You Need a Quick Loan?

Borrow any day, anytime!

Apply for a loan of $50,000 up to $1,000,000

Yes, that’s correct!

At Global CU the success of our customers comes first,

We makes it easy to borrow money to fund your dream.

If you live in the United States and Canada or even in the United Kingdom, then you’re eligible to apply.

Inbox me to get started on your journey to success!

#Loan #businessloan #loanservices #loanofficer #finance #mortgage #autoloan

#loan #business loan #loans #personal loans #student loans #financial help #mortgage #auto loans #finance #business #home loan #short term loans uk #same day payday loans

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gallusrostromegalus · 8 months

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Basically. I got screwed.

I am very sorry for how relatively quiet this blog has been but I've been dealing with a very unpleasant situation the last few months, and now I need help.

Essentially, I tried to help someone out, and she took advantage of me, and I have no way to recoup my losses.

Earlier this year, I moved into a new house. Before we sold the old house, a Now-Former friend ran into some trouble and was about to become homeless with pets and a small child. Not wanting them to be on the street, we offered to hold off selling the old house so she could stay there for a little while, if she could pay the cost of the mortgage on that house (because I could afford one mortgage but not two) while we helped her find somewhere more permanent.

I was not making money from this- since I was still paying the utilities and property taxes, I was actually losing money, but willing to soak that in order to help her save up and get her on her feet.

Instead, she:

Never Paid a Dime towards covering the mortgage costs like she agreed ($12,000 for the nine months she was there)

Trashed the house ($500 dump fees for the trash alone)

Let her pets piss and shit all over the house ($1,500 bio hazard cleanup, $4000 to replace the carpet and other damaged flooring)

Caused an electrical issue in the garage ($900 to repair)

Broke the washer, dryer and refrigerator ($2500 to replace)

Broke the fence ($1000 to repair)

When I told her I could no longer financially support her and that I needed to sell the old house, she illegally squatted there for a solid three months and I had to hire a lawyer and actually take her to court to get her to leave ($2,500)

The resulting stress has been, as you can imagine, stressful.

So stressful, in fact, that it aggravated a the medical conditions my husband had and made him extremely sick. He had to go to the hospital and take time off work to recover. Now the health insurance is trying to weasel out of paying his short-term disability claim.

So net, this woman has managed to cost me around $25,000 and that's not taking into account the missed paychecks and medical expenses. I do not have $25,000, and until at least $13,000 of that is spent to repair the damage she did, I legally cannot sell the house to even begin to recoup my losses.

Theoretically, I could sue this woman, but she doesn't have any money and it would be me paying even more money I don't have to get... Nothing. So I'm asking for help to cover the costs of getting the old house ready to sell, my husband's medical expenses, and other expenses incurred by this debacle:

If you can help out in any way-share, donate spare change, anything- I'd be extremely grateful.

Thank you.

#signal Boost #fundraiser #original post edited for clarity

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bestandfree · 1 year

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Dscr loan florida

Dscr Loan Florida DSCR loan in Florida can help you get the money you need to pay off your debt and start fresh. The program offers low interest rates, flexible repayment options and an easy process. 1. DSCR Loan Florida: What is it? DSCR Loan Florida is a new type of loan that was created in order to help people who are in need of financial assistance. This loan is designed specifically for…

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roki58750 · 10 days

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Bad Cibil Loan Contact Me

#loans #short term loans uk #same day loans online #auto title loans #short term loans direct lenders #same day payday loans #same day loans direct lenders #personal loans #msme loan #mortgage loan

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investingdrone · 1 month

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#business loan #loans #home loan #mortgage #financial planning #short term loans uk #same day payday loans #personal loans #finance #thor ragnarok

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pfnfinance · 2 years

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bishawverma-blog · 3 months

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#loans #short term loans uk #personal loans #same day payday loans #insurance #mortgage #business loan #thor ragnarok #home loan #budget

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devineelevationllc · 2 years

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ayeforscotland · 9 months

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So a little bit more on this image where Tory MSPs stand amongst a crowd of short-term let landlords holding up a variety of signs including weird girlboss slogans, something about shooting a family holiday in the back of the head, an autistic person's 'dream' about being an AirBnB landlord, and - because of course - antisemitism. Scotland is introducing legislation to curb AirBnB and short-term lets which particularly impact Edinburgh. The people in this photo are basically unregulated landlords who believe they are entitled to hoard property. This impacts everything from housing availability to rent in the city. The people above are protesting this legislation, and many are refusing to pay the couple of hundred pounds to apply for a license to continue operating their property empires. They say they'll be automatically rejected. But why? Why would they be automatically rejected?

Could it be that, when they acquired their properties, some of them may have not applied for planning permission to repurpose their flats as commercial properties? (Answer: Yes) Could it be that if they never applied for a 'Change of Use' in accordance with the Town and Country Planning (Use Classes) Scotland Order 1997 - this may perhaps render some of them in breach of their insurance? (Answer: Yes) Could it be that by not complying with planning regulations that some may have in fact committed mortgage fraud? (Answer: Yes)

#AyeforScotland #scottish politics #Scotland #Anti airbnb #cw antisemitism

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