At EastWestFunding.com, we pride ourselves on offering flexible and innovative financing solutions that cater to the unique needs of our clients. Today, we are excited to share a success story that highlights how our Asset Utilization loan program helped a borrower achieve their dream of homeownership in Houston, TX.
A Unique Borrower Profile
This particular borrower presented a unique financial profile, qualifying with both W2 income and asset allowance. What set this case apart was the strategic use of liquidated Bitcoin to cover the full down payment, closing costs, reserves, and assets for asset allowance. By converting enough cryptocurrency to cash, the borrower was able to significantly lower their Debt-to-Income (DTI) ratio from 84% to 48%, making homeownership a reality.
Loan Details at a Glance
– Location: Houston, TX
– Loan Program: Asset Utilization
– Loan Amount: $2,700,000
– Property Type: Single-Family Residence (SFR)
– Loan-to-Value (LTV): 75%
– Credit Score:712
– Loan Term:30-year fixed
Why Choose EastWestFunding.com?
Our Asset Utilization loan program is designed to provide unique benefits for borrowers who may not fit the traditional lending mold. Whether you have significant assets in non-traditional forms like cryptocurrency or a combination of income sources, we have the expertise and flexibility to tailor a loan solution that meets your needs.
Key Benefits of Our Asset Utilization Loan Program:
1. Flexibility in Income Sources: We understand that not all borrowers have a conventional income stream. Our program allows for the inclusion of various income types, including W2 income and asset allowances.
2. Leverage Your Assets: By liquidating assets such as Bitcoin, borrowers can cover essential costs like down payments and closing costs, making the path to homeownership smoother.
3. Lower DTI Ratios: Converting assets to cash can significantly lower your DTI ratio, improving your eligibility for larger loan amounts and better terms.
4. Competitive Loan Terms: With loan amounts up to $3 million and competitive LTV ratios, our Asset Utilization program offers attractive terms for high-value properties.
A Commitment to Innovation and Excellence
We are committed to providing innovative financing solutions that empower our clients to achieve their homeownership goals. Our team of experienced professionals is dedicated to understanding your unique financial situation and crafting a loan solution that works for you.
If you have a unique financial profile and are looking for a flexible, tailored loan solution, contact us today to learn more about our Asset Utilization loan program and other financing options.
