Asset Utilization

For Individuals with High Liquid Assets

Our asset utilization or AKA asset depletion mortgage program is ideal for those individuals who do not show qualifying income on their tax returns but have assets sitting in their accounts (any liquid accounts) we qualify the loan based on the borrowers’ assets and not their income statements.

• For individuals with a FICO score of 700 or higher, can qualify for a loan up to 90% of $1,000,000.
• If your FICO score is 720 or higher, you can qualify for a loan up to 80% of $2,000,000.
• Similarly, if your FICO score is 720 or higher, you can qualify for a loan up to 75% of $3,000,000.
• For those with a FICO score of 720 or higher, you can qualify for a loan up to 70% of $4,000,000.
• We also consider FICO scores down to 680, so you may still be eligible for a loan.

To apply for a loan, you will need to provide your bank statements for the past three months. Additionally, we require that you have 100% of the loan amount in cash in your bank account. Stocks and retirement accounts can be considered as well, with a maximum of 70% of their value being taken into account. If you are 59.5 years or older, your retirement accounts can also be considered at 70% of their value.

To determine your eligibility, we divide your assets by 84. Your maximum debt-to-income ratio (DTI) should not exceed 43%. We combine this with full documentation and remove the minimum asset requirement.

These loan options are available for both second homes and non-owner properties. However, please note that gift funds are not allowed. Lastly, if you choose to cash out, you will need to have sufficient reserves.

Contact us to find out more about our asset utilization mortgage program