cfsb
Colorado Federal Savings Bank
Joe Schmitz
Foreign Currency Mortgages
Foreign Currency Mortgages allow investors to leverage stable, low cost of funds from other countries which dramatically increase the cash flow on Income Properties
What's so great about a foreign currency mortgage?
•· Very Low Interest Rates (as of Feb 4th):
•o JPY Rate: 1.99% (must have JPY income)
•o USD Rate: 4.28%
•o CHF Rate: 3.79%
•o Other Currencies available!
•· Maximize Cash flow
•· No Credit Report and No Fico required
•· Flexi-currency Facility
•· Great for U.S. Citizen and foreigners
•· Loans available on foreign properties
•· Unlimited Properties
•· No Maximum Loan Amount
•· Personal Service and Professional Advice
U.S. States Available: HI, CA, OR, WA, NV, CO, NY and FL (Also available for foreign properties)
Property Types: SFR, Condo, and Townhome
Program Highlights:
•· Interest rate: Variable Depend on Currency
•· Investment properties ONLY
•· Single Family Homes and Condos
•· Up to 30 year interest-only mortgages
•· 75% LTV, 50% DTI
•· Higher LTVs possible with Additional Security
•· Available with USD, BP, Euro, Chf, AUD,
NZD, HKD, CAD currencies
•· Currency Switching Option Offered at Interest Rollover Dates
•· Maximum 4 Changes Per Calendar Year
•· 2 Changes at No Cost
•· Max 70% LTV for Currency Switching Option
Program Borrower Profile :
•· Experienced Real Estate Investor
•· Consistent Income: W-2 or S/E
•· Provable Income
•· Strong Reserves
•· Strong Credit History
•· Understanding of the Currency Markets
•· Not Time Sensitive
•·
Repayment:
•· Principal and interest installments
•· Interest only Mortgages
•· Payable quarterly in arrears
Options:
•· Purchase
•· Refi (rate and term and Cashout)
Actual Scenario:
Loan Amount | $765,000 | $788,000 |
|
Rents | 5425 | 5425 |
|
1st Mortgage | 3220 | 2475 | 3.77% |
2nd Mortgage | 780 | 0 |
|
Taxes/Insurance | 685 | 685 |
|
Operating Expenses | 435 | 435 |
|
Total Expenses | 5120 | 3595 |
|
Net Income | 305 | 1830 | 600%! |
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