Family Builds New US Investment Property Portfolio
|Client’s Country of Origin:||Mexico|
|Current Visa Status:||Approved EB-5 I-526 Petition|
|Loan Purpose:||Refinancing an Existing Residential
|Location:||Los Angeles, California|
|Interest Rate:||4.875% Interest Rate for the First 5 Years of a 30-Year Adjustable Rate Mortgage|
|Collateral to Lender:||The Property Itself|
The Client’s Story:
After moving to the US from Mexico, the family chose to settle in Los Angeles and bought a condo valued at approximately $2.4 million without any loan or mortgage. After purchasing, the family decided they wanted to upgrade the property to rent it out.
The client decided the easiest way was to take out a mortgage on the property to finance the upgrades and improvements. After providing the required documents, the family was able to receive a disbursement of $1.49 million to support their goal.