Asset Utilization

If you are a borrower with no job but have money in the bank then our asset depletion mortgage program is the program for you to get mortgage financing done. We don’t use your tax returns to calculate income but rather your assets in the bank. This asset depletion program is ideal for those individuals who are cash asset-rich and don’t show enough income on their tax returns to qualify for a mortgage loan.

• Total Assets Divided by 60 = Income
• Assets Must be 110% of the Principal Balance
• Stocks/Bonds/Mutual Funds – 100%
• Vested Retirement Account Funds – 60%
• Life Insurance and Annuities
• Loans up to 90% LTV
• Up to $3 Million
• Primary, 2nd Home and Investment Property

Contact our office for more information but our asset depletion also known as the asset utilization mortgage program for your mortgage needs. Whether purchasing or refinancing a property this mortgage program might be for you.