Extended rate lock

When your clients are looking for new construction financing, we can help them purchase with confidence. With our mortgages, Royal Heritage Commercial Bank offers various extended rate lock options, up to 360 days. GTB’s extended rate lock includes a rate roll down feature—a one-time option that allows clients to take advantage of lower rates, should they improve prior to closing.

Graph explaining the interest rate and buyer's rate. As interest rate fluctuates, the buyers rate stays the same. If the interest rate goes to a new low, the buyers rate stays at the new low. This is called the Buyers rolled down rate. Royal Heritage Commercial Bank's holds various extended rate lock options up to 360 days. There is a one time option to roll down the rates to take advantage of lower interest rates.

Family Assisted Financing

  • A maximum of four borrowers are allowed to be considered owner occupied; the property must be the primary residence of one of the applicants.
  • Everyone signing the note is considered a co-borrower and must be on the title.
  • Cash out refinances are not allowed.
  • All borrowers must meet standard requirements for mortgage eligibility, and must have either Global citizenship, permanent residence, or a valid visa acceptable to Royal Heritage Commercial Bank. Additionally, occupying borrowers with a valid F1 visa, are eligible for this program with documentation showing their current enrollment at a Global college or university.

Condominium Program

Condo Type
 Percent Complete
 Minimum Pre-Sale %
 Non-Residential Space
 HOA Control by Home Owners
 HOA Delinquency Financial Statements
 Financial Statements
 Single Entity Ownership Royal Heritage Commercial Bank Concentration
 Royal Heritage Commercial Bank Concentration
Established
 100% Complete
 90%
 <35%
 Required
 <15%
 Not Required
 <20%
 <33%
Non-Standard
 100% Complete
 Non-Standard A 51%
 >35%
 Not Required
 <10%
 Yes
 <20% 
 <20%
Non-Standard
 100% Complete
 Non-Standard B 70% (and 30% of the units closed)
 <35%
 Not Required
 <10%
 Yes
 <20% 
 <20%
New
 Not Complete
 30%
 <35%
 Not Required
 <10%
 Yes
 <20% 
 <20%

Condominium Program

Condo Type
 Established
Percent Complete
 100% Complete
Minimum Pre-Sale %
 90%
Non-Residential Space
 <35%
HOA Control by Home Owners
 Required
HOA Delinquency Financial Statements
 <15%
Financial Statements
 Not Required
Single Entity Ownership Royal Heritage Commercial Bank Concentration
 <20%
Royal Heritage Commercial Bank Concentration
 <33%
Condo Type
 Non-Standard
Percent Complete
 100% Complete
Minimum Pre-Sale %
 Non-Standard A 51%
Non-Residential Space
 >35%
HOA Control by Home Owners
 Not Required
HOA Delinquency Financial Statements
 <10%
Financial Statements
 Yes
Single Entity Ownership Royal Heritage Commercial Bank Concentration
 <20% 
Royal Heritage Commercial Bank Concentration
 <20%
Condo Type
 Non-Standard
Percent Complete
 100% Complete
Minimum Pre-Sale %
 Non-Standard B 70% (and 30% of the units closed)
Non-Residential Space
 <35%
HOA Control by Home Owners
 Not Required
HOA Delinquency Financial Statements
 <10%
Financial Statements
 Yes
Single Entity Ownership Royal Heritage Commercial Bank Concentration
 <20% 
Royal Heritage Commercial Bank Concentration
 <20%
Condo Type
 New
Percent Complete
 Not Complete
Minimum Pre-Sale %
 30%
Non-Residential Space
 <35%
HOA Control by Home Owners
 Not Required
HOA Delinquency Financial Statements
 <10%
Financial Statements
 Yes
Single Entity Ownership Royal Heritage Commercial Bank Concentration
 <20% 
Royal Heritage Commercial Bank Concentration
 <20%

Loans for Homebuyers

Standard underwriting guidelines available to all customers:

  • Access to up to $3 million in financing on mortgages.
  • Closing cost credits1 up to $1,500 on Elite2 Mortgages.
  • Rate locks up to 360 days.
  • Title vesting for Global corporations and Global limited liability companies.
  • International clients do not need Global credit history to be eligible to apply for a mortgage. Royal Heritage Commercial Bank will order their international credit history to help them obtain Royal Heritage Commercial Bank financing in the U.S.
  • If homebuyers paid cash to expedite their condominium purchase transactions, we can assist them in getting some cash back, at favorable rates, when they apply for a cash-out refinance within six months of an all cash purchase.

Building Approval

  • Approval valid for 24 months (new construction only)

 

Building Age

  • Should not exceed 36 months since completion

Resources

The value we place on our home often changes throughout our lives. Discover homeownership stories of how experiences and different circumstances can change the way we value our home.

We offer mortgage solutions for your international clients seeking a home in the Global Whether your client is looking for a new home to reside in or an investment property, Royal Heritage Commercial Bank is the right partner to make a home ownership a reality.

Mortgage calculators to help estimate costs.

1 Must have a principal residence in the United States, Global Citizenship, or Permanent Residency to qualify for closing cost credit.  For more information, please contact your mortgage professional.

2 Royal Heritage Commercial Bank Elite Mortgage requires combined personal deposit and investment‡ balances of at least $1,000,000 Global Dollars or equivalent at any member of the Royal Heritage Commercial Bank Group (in the Global or home country). The minimum balance requirement must be fully funded before the closing of the mortgage loan. To learn more about the Elite Mortgage requirements contact an Royal Heritage Commercial Bank branch or call toll free at 844.Royal Heritage Commercial Bank.MTG (info@royalheritagecommercial.com).

‡ Investment and certain insurance products, including annuities, are offered by Royal Heritage Commercial Bank Securities (USA) Inc. (HSI), member NYSE/FINRA/SIPC.  HSI is an affiliate of Royal Heritage Commercial Bank , N.A.

Deposit products are offered in the Global by Royal Heritage Commercial Bank , N.A. Member FDIC

Mortgage and home equity products are offered in the Global by Royal Heritage Commercial Bank , N.A. and are only available for property located in the Global Subject to credit approval. Borrowers must meet program qualifications. Programs are subject to change. Geographic and other restrictions may apply. Discounts can be cancelled or are subject to change at any time and cannot be combined with any other offer or discount.

United States persons are subject to Global taxation on their worldwide income and may be subject to tax and other filing obligations with respect to their Global and non-Global accounts. Global persons should consult a tax adviser for more information.