Our clients, a Canadian couple, were looking to do a cash-out refinance on their second home in Hallandale Beach, Florida, which they owned free and clear of any mortgages. They needed to tap into the equity of their home to pay off medical bills.
However, because their income dipped while out on medical leave, they were having trouble getting approved for a loan by banks, including by Canadian banks with a presence in South Florida.
We were able to get them approved by a private lender in Florida. At 65% loan-to-value, they were able to pull out enough cash from their property to pay off their medical bills as well as their high-interest credit cards.
Are you a foreign national in need of financing to purchase or refinance a property in the United States? We’re happy to help. Contact us here.