We completed a mixed-use property first mortgage refinance for a non-U.S. resident who is a foreign national and lives and works overseas. He has no credit or no personal income. We did the loan solely on the investment property as collateral with a 24-month term.
“Hello, this is Jack Miller of Gelt Financial. I hope you’re having a good day. I wanted to tell you about a couple deals we just closed. We put out press releases. I figured, might as well make a video on that’s the new thing, video press releases. Not that anyone wants to see my face, but what the heck, you have to at this point.
So first, I always forget to tell people, if you like the videos, subscribe to the channel. I think there’s a bell or a buzzer or something like that you have to click, and you’ll be updated every time we post something. I try as much as I can, but whatever, I try, I should do more. Everyone has to remind me, but anyway, we just closed a deal that I think very few people would do. It’s a mixed-use property in Granite City, Illinois. The specialty about it was the borrower lived in a foreign country. He was a total foreign citizen. He was a non-resident U.S. alien. He had no credit report here. We didn’t even pull a credit report here. We based our decisions solely on the property. It was a fantastic income producing property and we loved the property. The guy’s a good guy on top of it, but we approved the deal. Very few people would approve such deal. I think the loan amount was like four hundred thousand. Almost no one’s doing these types of deals. Again, foreign national, no credit report, effectively non-recourse loan, and we closed the deal and closed it quickly.
So, check us out on the web at geltfinancial.com. Call us anytime, 561-221-0900 extension 238. And by the way, we didn’t find that deal on our own. It came through a mortgage broker, as many of our deals do. So, love to work with you, reach out, and we’re always here to make deals. Take care and have a great day”
Category: Deals Done
Tag: Illinois
