U.S. real estate is an attractive investment to buyers both domestic and international, but non-resident foreign nationals often face challenges purchasing property here, even if they have plenty of assets. Traditional banks and mortgage companies often lack the experience and know-how required to facilitate these often complex transactions.
Recently, The Wall Street Journal’s Jumbo Jungle interviewed Insignia Mortgage co-founders Chris Furie and Damon Germanides, who have considerable expertise and success in this particular arena. Tips shared included advice on how to leverage debt to buy residential property in the U.S.
Wall Street Journal: “In California, Insignia Mortgage closed $80 million in purchase and refinance mortgages to foreign nationals over the past 12 months; the backing comes mostly from regional banks, says Insignia partner Damon Germanides. Available programs require a minimum loan amount of $500,000 up to $7 million for three-, five- or seven-year ARMs with current rates starting in the high 2% to high 3% range for the initial fixed-rate period,” Mr. Germanides says.
View the article as a PDF here.
Average loan size of close to $1.9 Million in 2015
Ranked in the Top 20 by National Mortgage News
We’re pleased to share that the Insignia Mortgage principals, Damon Germanides and Chris Furie, have once again ranked among the very top of all mortgage originators in the country for 2015, according the National Mortgage News and the Scotsman Guide annual report.
“Chris (Furie) and I work very hard to be the best at what we do,” said Germanides, adding “We let our numbers speak for us. Our average loan size in 2015 was nearly $1.9 million, which is the largest average loan size in the nation and an industry benchmark.”
Furie and Germanides ranked in the Top 20 of the National Mortgage News Top Originators report for 2015.
Also, according to the Scotsman Guide, Chris Furie ranked #21 for Top Dollar and Purchase volume for this year, with a total volume of $200 million, with 101 closed loans. Chris has been in the mortgage business for 26 years. Furie remarked, “We are the number one jumbo loan broker in the country by loan size. We are able to provide large jumbo loans to foreign nationals and self-employed borrowers that have been turned down by traditional lenders.”
Insignia co-principal Damon Germanides ranked #33 and #34 for Top Dollar and Top Purchase Volume respectively, with a total volume for the year of almost $165 million.
For more information on our jumbo loans, loans for foreign nationals and no tax return loans, please contact us.
View the press release as a PDF.
Insignia principals, Damon Germanides and Chris Furie were ranked #8 and # 5 out of the top 20 loan originators in the West for 2016, respectively, by National Mortgage News.
Only twelve loan originators are selected per year for inclusion in The Scotsman Guide, the mortgage industry’s leading US publication. Our very own co-founder and principal Chris Furie has earned that honor in a monthly feature on Top Originators nationwide. In the article, Mr. Furie discusses how his career path led his success in originating complex jumbo loans with foreign nationals. Mr. Furie ranked 6th nationally in the 2014 Scotsman Guide rankings, which are based on sales volume. Read the full article here.
As ranked by the Scotsman Guide, Insignia Mortgage principals Chris Furie and Damon Germanides are among the top of all mortgage originators in the U.S. for 2014. Chris is ranked #6 in the country with over $190 million in loans. Damon is ranked #32 with over $129 million.