Client Experiences
While many traditional financial institutions might use income tax returns and financial statements to assess creditworthiness, this approach is often insufficient when it comes to the highly complex finances of high-net-worth individuals. One Million Dollar Plus advisors are diligent strategists who advise clients with positive financial credit positions on opportunities and options.
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Case Study #2
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Case Study #3
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Typical Financings
Explore our recent high-value financing success stories tailored for high-net-worth individuals
Financing #1: New Primary Residence Purchase
The client was in contract and started his financing 3 weeks before the COE of his new home after losing his former home in the Palisade Fire. The client had $30M in liquid assets (Cash & Stock). The private bank team we introduced to the client expedited the file through underwriting, ordered, completed, and received both appraisals in 10 days, and approved his financing within 2 weeks. The bank funded the loan the same day as closing and closed 1 day early.
Financing #2: New Primary Residence Purchase
A HNW hedge fund manager was introduced to OneMillionDollarPlus, and we worked closely with the client and the private bank we introduced to allow for a smooth financing as he was purchasing his first home. The financing closed, and the client was impressed with how accommodating the private bank was through the process and continued to provide superior service after the closing. Six months after closing, due to superior service from this private bank, the client continued to strengthen the relationship by moving his business bank accounts over.
Financing #3: $7.7M No Payment for Life Mortgage
Wealthy LA Couple with a $65,000,000 Real estate portfolio, but moderate liquid reserves and income, were introduced to us by a Top Real Estate Broker to finance their property. They were unable to qualify for financing through our private banks until they raised their liquidity by a couple of million. One of our Home Equity Conversion Lenders provided them with a record-breaking No Mortgage for Life financing.
Financing #4: $10M New Primary Residence Purchase
HNW client just sold one of his companies for millions and is seeking financing for a new home purchase in the Pacific Palisades (closer to Brentwood), as all of the homes around were destroyed in the fire and didn't want to expose himself to the next few years and rebuilding and nuisance from construction crews. Client is very happy with terms below 6% in today's mortgage climate and praised us for assisting him, as the private bank he works with was one percent higher on the rate.
Financing #5: 100% Purchase Financing in <30 Days
An HNW client with liquidity invested in his retirement accounts and the stock market is purchasing a new home for $2,400,000. An 80% Loan is $1,960,000. He isn't ready to sell his current residence valued at $2,750,000 with only $500K debt against it. We introduced him to another private bank that did a HELOC in second position of $600,000 to cover the 20% downpayment of $490,000 plus closing costs.
Financing #6: Purchase Financing in less than 30 days
HNW Real Estate Mogul is purchasing a new primary residence before selling the departing residence. He was introduced to us about 1 week into his 30-day escrow, as his current financing is much higher than what our private bank partners can do for him. He was ecstatic about his terms.
Unusual Financings
Exceptional financing solutions for unique and complex situations
Financing #1: $26M Construction Financing in Hawaii with 3-Year Build Period
HNW Couple building their family compound on 11+ acres of prime land in Princeville. They received favorable terms from one of our private banks. The reason this is unusual is that typically, banks will only go to 24 months on a new build and convert the loan from interest-only payment as drawn to amortized payments of the full loan (if the home is completed or not). This private bank is granting our esteemed clients an additional 12 months to complete their build as they anticipate delays with weather, materials, etc.
Financing #2: $4M 100% Financing in 10 Days
Wealthy Heiress seeking financing to purchase a New Home in La Quinta and was in escrow to close in 14 days from introduction to us. Her financing option came in much lower than anticipated than her initial loan request, and she couldn't arrange the down payment promptly to meet her closing of escrow, and lose her earnest money deposit. We introduced her to a lender contact of ours who closed in less than 10 days. They cross-collateralized the full purchase price of $4,000,000 as a first on the property she was purchasing and as a second behind her low-interest-rate first TD mortgage of her current primary residence in Beverly Hills valued at $18,000,000. The lender just needed strong reserves, a drive-by appraisal, and a clean title, and closed by the COE date.
Financing #3: Wealth Foreign National Refinances $3M Los Angeles Mansion
Wealthy HNW Couple who live in Switzerland and relinquished US Citizenship are repeat clients, as we secured their initial financing of $1,000,000 after they completed their remodel of the Bel Air Home repay themselves. They contacted us to assist with a cash-out Refinance as their property was on the market and suffered damage from the LA mudslide last year and wanted to use the funds to conduct repairs to their home and landscaping and sell the property for top-dollar once complete. During the entire period of the financing process, they were communicating with our private bank, introduced from Switzerland, from completing the loan application to the escrow overnighting the loan documents to Switzerland for their signature. At the loan's completion, the clients were happy with their terms and an additional $1.2M of added funds to restore their home for sale.
Financing #4: Wealthy Media Mogul Receives $88M Through Multiple Complex Financings
- $8M in HELOC seconds on primary + three second homes
- $80M loan against $130M business equipment
HNW Media Mogul finances $8,000,000 in new HELOC seconds on his primary residence and three second homes (we secured the firsts on these under 3%, all interest only at 70-80% LTV when he purchased them between 2019 and 2021). In addition to this, we secured an $80M loan against his $130M Business Equipment to continue his M&A pursuits of TV networks and syndication in building his vast empire.
We're happy to help ...
with Ira Meltzer.
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