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