If you are an someone who is looking to purchase a property and have significant verifiable assets, look no further. The Asset Depletion loan is a great way for borrowers to utilize the equity from their assets as collateral to obtain the loan they are in need of.
Loans up to $4 Million for Primary to 70% LTV
Loans up to $3 Million for Secondary to 80% LTV
Loans up to $3 Million for Investment to 80% LTV
Purchase up to 90% LTV
Cash Out up to 80% LTV
This program is designed for borrowers who have significant verifiable assets and would benefit from alternative loan qualification methods.
Asset depletion can be used as a stand-alone income qualifier or in combination with the following income documentation programs: Full Doc, Bank Statement (12/24mo), 1099, P&L, and WVOE
Allowable assets are used to determine or augment qualifying income. Employment and income are not required to be disclosed on the 1003 loan application (stand-alone Asset Depletion only).