We absolutely LOVE the unique advantages the U.S. mortgage market has to offer over any other country. However, we get even more excited when we launch a new mortgage loan program such as the AM Rental Coverage Plus!
As a company, we focus on providing our foreign national and U.S. expat clients with the most comprehensive mortgage programs available. America Mortgages wants to be your long-term partner on your real estate investment journey. Whether you’re looking to refinance an existing U.S. property or build a real estate portfolio for retirement or legacy, we are with you every step of the way.
Before introducing AM Rental Coverage Plus, let’s break down the advantages America Mortgages currently offers to their clients;
- No age restrictions on loan tenure: Maximize your yield potential with 30–40-year amortization. Regardless of whether you are 19 or 99, you can qualify for the longest tenure possible. (This is a U.S. government anti-discrimination policy)
- No limit on the number of properties owned with maximum LTV financing: We understand building a real estate portfolio requires leverage. America Mortgages’ loan programs allow you to obtain the maximum LTV available regardless of the number of properties owned.
- 40-year loan program with 10-year fixed interest only: America Mortgages features a 40-year amortization on many of our loans. The 10-year interest-only option is a fantastic way to lock in a long-term fixed rate with the flexibility to keep it for 40-years without seeing any adjustment in rate. Rates go up, your payment remains the same. Rates go down; refinance into a lower rate or stay with the comfortable payment you have locked in. It’s that flexible!
- Refinance when rates go down: When rates decrease, your America Mortgages loan officer will analyze the lower rate options and present a clear and concise proposal that shows a breakeven point for any costs incurred in the refinance.
- Loan programs in all 50 U.S. states: Our loan programs are available in every city and state. Want to buy a condo on the beach in Waikiki, Hawaii, or refinance a single-family home in Houston, Texas — We have loan programs.
- No U.S. credit required: Our loan programs do not require the borrower to have U.S. credit. We’re able to use your home country credit if available. If you don’t have a credit reporting agency in your home country, no problem – speak with one of our U.S. loan officers for an exception. We do it all the time.
- U.S. expat loans with no W2 and foreign earned income: Are you a U.S. expat and feeling the frustration of no W2 or foreign earned income? These are not problems for America Mortgages. For U.S. expats, we make it as easy as if you were living and working in the U.S. and walking into your local bank. There is no premium in pricing, and it’s truly that easy.
- Free pre-approval letters in 72 hours: The first thing we recommend for anyone looking to purchase a property is to get pre-approved. This is for a couple of reasons: 1) You should fully understand and be comfortable with the mortgage loan term and tenure you’re obtaining 2) You will need a pre-approval rate before any offer on U.S. property will be taken seriously. Don’t have a realtor? No problem: our comprehensive and complimentary realtor referral program can place you with a vetted and qualified realtor all around the U.S.
Now to the exciting part…AM Rental Coverage Plus!
America Mortgages has common sense underwriting loan programs, including loan programs that allow our clients to qualify only on the rental income of the property and not personal income. This is how commercial cash-flowing mortgages have been underwritten for years, and it makes perfect sense. The property is being purchased as an investment, and the rent from this investment will be used to pay the monthly mortgage debt. The standard ratio has been 1:1. This means if the rental income is sufficient to cover the mortgage payment, taxes, and insurance on a one-to-one basis, the loan qualifies. This is fantastic. However, this doesn’t take into consideration that mortgage rates tend to be fixed, and rental rates increase. Until now …
Introducing AM Rental Coverage Plus, which allows you to qualify on a 0.75:1 ratio. In simple terms, as long as the rent covers 75% of the mortgage payment, taxes, and insurance, the loan qualifies. It just makes sense!
Here's a simple example:
Rent: $750/month
Mortgage payment (tax, insurance) $1,000/month
Ratio: .75:1 (75% rental coverage)
Approved: YES!
For more information on the AM Rental Coverage Plus loan program, as well as our other America Mortgages loan programs, please email [email protected] or schedule an appointment to speak with one of our U.S. loan officers today.
America Mortgages only works with foreign nationals and U.S. expat investors; this is all we do, and no one does it better. Whether you're a seasoned investor or just starting to build your portfolio, our loan programs open doors previously closed to many. Seize this opportunity and discover how America Mortgages can be your steadfast partner in realizing your real estate dreams. Contact us today to learn more and embark on your journey to financial success.
