Perfect for Borrowers with High Net Worth and Significant Assets but their income isn’t sufficient to qualify for a mortgage loan. Asset Depletion Loans, allow the lender to underwrite the loan using the borrower’s assets, based on a projected depletion of the assets, to be considered as income. While Non-Qualified and Non-Agency loan programs are constantly evolving please reference the below guidelines to assist you in determining if an Asset Depletion Loan program is right for you:
Up to 75% Loan-To-Value (purchase only) | |
5 year waiting period on a Foreclosure, Short Sale, Bankruptcy, or Deed-In-Lieu | |
Credit score of 700+ required | |
Loans up to $3 million (minimum Loan $150,000) | |
No Debt-To-Income restrictions | |
Requires 60 months of recurring monthly payments post-closing | |
No 4506 required | |
Must document minimum $500,000 in post-closing assets | |
Primary residence only | |
Assets must be sourced/seasoned for a minimum of 12 months |
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