STEP 1

Check your eligibility

The loan is for purchase or refinancing of rental properties only. Owner occupied properties do not qualify. The current rates range from 4.9% for Program #1 and 4.4% for Program #2.

You must have the title of the property in your name, or under an umbrella of a trust or a holding company. Any property bought, sold or traded under a publicly traded company name does not qualify.

You must be 18 years of age or older.

You must have a regular source of income from your profession, or other verifiable sources of income. If you are the sole, self-employed person in your company, your income statement over the last 2 years should demonstrate that you could pay back this loan.

STEP 2

Check your affordability

 
First calculate how much you can borrow in relation to your income.

Our maximum limits are normally 5 times basic salary or 4 times joint salary. Generally, this must not exceed 60% of the purchase/valuation price of the property you are looking to buy. However in circumstances where you own a property or have money on deposit or investments, you may qualify for a loan up 100%.***

STEP 3

Request an application

Fill out a "request for more information" form under the "contact us" page and we will send you an application.

STEP 4

Complete the application package:

 

-Copy of existing rental agreement

-Photo of the property you wish to secure financing on

-Copy of real estate agent, developer brochure, including price list

-Copy of up to date loan, overdraft, and or current account statements

-Copy of purchase agreement (if available)

-Identification, Passport (certified copy), must be passport, not other ID.

-Confirm your regular income: 2 years tax return (certified copy by accountant), 6 month pay stubs, employment  contract, brief background of your employment company (e.g. corporation brochure)

-Copy of the last 12 months mortgage statements for all US properties owned, if any. Verification of Mortgage (VOM) is acceptable.

-If you are self employed, please contact us for additional terms and conditions.

STEP 5

Submit your application

To speed things up, simply fax the completed application form & conditions to our office at 866-257-9920 first, and we will review the package prior processing the application.

STEP 6

Proceeding with your application

Within 7-10 day business days, you will receive a package from advanced credit line services which will give you an agreement in principle with regard to the amount the bank can make available to you.

Once you have received your agreement. Then we'll help you to complete supporting documents in order to get the formal offer.

Escrow will start as soon as you all of the applicants sign and return the formal offer.

 

Interest rates, mortgage program terms and conditions are subject to change without notice. Loans are subject to review and approval. Please refer to the Disclaimer for further information on our disclaimer policies. ***Max LTV for properties located in CA, FL, NV, and OR is 50%.  Minimum down payment is 50%.  5%. lower for the Multi-currency program.