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Apartment and Commercial Loan Success Story

Posted on April 6, 2016 by Damon Germanides

$8 million investment property purchase with 62.50% lender financing.

Insignia Mortgage underwrote the cash flow and approximate net equity in the borrower’s real estate holdings as well as verified down payment from several business bank accounts, including foreign bank holdings. The loan was made to a Limited Partnership with a foreign national as the general partner. The escrow closed in under 40 days.

Loan Terms

$5 million dollar line of credit
2-year term
Prime + 1.2550%
Interest Only
No prepayment penalty
30-day close of escrow

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No Tax Return Loan Success Story

Posted on April 6, 2016 by Damon Germanides

We recently helped a client who had already owned over 25 different tax entities and over 20 different properties to purchase a $8.5 million primary residence with 55% lender financing. Insignia Mortgage underwrote the cash flow and approximate net equity in borrower’s real estate holdings, and verified the down payment from several business bank accounts. A vesting structure was set up to a corporation with a foreign trust as the beneficiary.

Loan Terms

$4.75 million loan amount
7/1 ARM
3.788% APR
No prepayment penalty on a 30-year term
40-day close of escrow

Learn more about our No Tax Return Loans

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Foreign National Loan Success Story

Posted on April 6, 2016 by Damon Germanides

Insignia Mortgage recently closed on a $6 million second home purchase for a foreign corporate executive with 60% lender financing.

Insignia Mortgage worked with the client’s foreign legal counsel and US-based CPA to properly structure the purchase in a tax-efficient manner. The client purchased the home using an LLC with the buyer guaranteeing the loan. We helped the loan go through successfully despite not having U.S. income, credit or assets.

Terms

$3.6 million loan amount
3/1 ARM
2.888% APR
30-year term with no prepayment penalty
28-day close of escrow

Find out how we can craft your Individualized Lending Solution

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(1) Disclosures

(1) No Tax Return loans and foreign national loan products require other forms of income documentation and asset verification in lieu of tax returns. Not all applicants will qualify. Some products we oﬀer may have a higher interest rate, more points or more fees than other products requiring more extensive or different documentation. (2) Minimum FICO, reserve, and other requirements apply. Contact your loan officer for additional program guidelines, restrictions, and eligibility requirements. Rates, points, APRs and programs are subject to change without notice. Loan to values (LTV) are based on appraised value. Actual closing times will vary based on borrower qualiﬁcations and loan terms. All loans are subject to credit approval. (3) With an interest-only mortgage payment, you will not pay down the loan's principal balance during the interest-only period. Once the interest-only period ends, your payments will increase to pay back the principal and interest. Rates are subject to increase over the life of the loan. Contact your Insignia Mortgage, Inc. loan officer to determine what your payments might be once the interest-only period ends. (4) With an adjustable rate mortgage (ARM), once the fixed rate period ends, the loan payment will adjust after an initial period and then adjust on a regular basis as set forth in the loan documents. For example, a “3/1” loan will have an interest adjustment 3 years after the loan closes and every 12 months thereafter. Also, the loan will be subject to annual and lifetime adjustment caps. Contact your Insignia Mortgage loan officer to determine what your payments might be once the fixed rate period of the loan ends. (5) Insignia Mortgage, Inc., is a real estate broker licensed by the CA Bureau of Real Estate, DRE #01969620, NMLS #1277691

(2) Disclosures

(1) Minimum FICO, reserve, and other requirements apply. Contact your loan officer for additional program guidelines, restrictions, and eligibility requirements. Rates, points, APRs and programs are subject to change without notice. Actual closing times will vary based on borrower qualiﬁcations and loan terms. All loans are subject to credit approval. (2) “Loan to Cost” (LTC) is defined as the acquisition price of the property plus the cost to build as determined by a bank appraisal. Contact your loan officer for additional program guidelines, restrictions, and eligibility requirements. (3) With an interest-only mortgage payment, you will not pay down the loan's principal balance during the interest-only period. Once the interest-only period ends, your payments will increase to pay back the principal and interest. Rates are subject to increase over the life of the loan. Contact your Insignia Mortgage, Inc. loan officer to determine what your payments might be once the interest-only period ends. (4) With an adjustable rate mortgage (ARM), the loan payment will adjust after an initial period and then adjust on a regular basis as set forth in the loan documents. For example, a “3/1” loan will have an interest adjustment 3 years after the loan closes and every 12 months thereafter. Also, the loan will be subject to annual and lifetime adjustment caps. Contact your Insignia Mortgage loan officer to determine what your payments might be once the fixed rate period of the loan ends. (5) Insignia Mortgage, Inc., is a real estate broker licensed by the CA Bureau of Real Estate, DRE #01969620, NMLS #1277691.