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David A. Krebs is a licensed mortgage broker with over 15 years of experience offering loan options beyond traditional banks

Australian foreign national loan

On behalf of a foreign national (a Canadian living in Australia) we obtained a cash-out refinance on one of his U.S. rental investment properties, a condominium in Las Vegas, Nevada.  We used a no-document program to get him approved, meaning he did not need to provide any tax returns, paystubs or other income documents. The items he needed to provide were minimal and included the lease for his property, the operating agreement for his limited liability company (LLC), and evidence of homeowner’s insurance.

As part of the condominium review process, it was revealed that the condominium association was involved in pending litigation.  However, the underwriting team was still able to approve the loan.

His loan terms included 65% loan-to-value (LTV) and a 30-year fixed interest rate.  He plans to use the funds to make more investments in the United States.

Skills

Posted on

February 29, 2020

Miami mortgage broker

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