Asset Depletion
Our Asset Depletion Loan Program is designed for borrowers who may not have a steady stream of traditional income but possess substantial liquid assets. This program allows borrowers to qualify for a mortgage by depleting their assets to demonstrate their ability to repay the loan, making it an ideal solution for retirees, high-net-worth individuals, and those living off savings or investments.
Key Features of the Asset Depletion Loan Program:
Income Verification Through Assets:
- Qualifies borrowers based on their liquid assets, such as savings accounts, investment portfolios, retirement accounts, and other financial assets.
- A portion of these assets is calculated as income over a predetermined period, demonstrating the borrower’s capacity to meet mortgage payments.
Simplified Documentation Requirements:
- Reduces the need for traditional income documentation such as pay stubs, W-2s, or tax returns.
- Requires detailed asset statements to verify the borrower’s financial standing and the availability of sufficient assets.
Flexible Loan Terms:
- Offers a variety of loan term options, including fixed and adjustable-rate mortgages, to meet the diverse needs of borrowers.
- Provides competitive interest rates based on the borrower’s asset profile and overall financial health.
High Loan Amounts and Competitive Rates:
- Accommodates both high-value and more modest loan amounts, ensuring accessibility for a wide range of borrowers.
- Offers attractive rates that reflect the borrower’s financial stability and asset portfolio.
IIdeal for Various Borrower Profiles:
- Retirees who are living off their savings or investment income.
- High-net-worth individuals with substantial liquid assets but irregular income.
- Borrowers who prefer to use their assets rather than traditional income sources for mortgage qualification.
Benefits of Choosing Our Asset Depletion Loan Program:
- Streamlined Process: Simplifies the loan approval process by focusing on the property’s cash flow rather than the borrower’s personal income, making it quicker and more efficient.
- Enhanced Accessibility: Expands mortgage opportunities for borrowers with substantial assets who might not qualify under conventional income verification methods.
- Tailored Solutions: Our dedicated team works closely with brokers to provide personalized mortgage solutions that cater to the specific needs of asset-rich borrowers, ensuring their financial goals are met.
By leveraging our Asset Depletion Loan Program, brokers can offer their clients a practical and efficient way to secure mortgage financing. This program ensures that more borrowers with significant assets can achieve their homeownership dreams, regardless of their income sources.