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Asset Depletion Mortgage Loan

Asset Depletion Mortgage Loans are designed to help those who write off to much on their tax returns that cannot qualify for a conventional mortgage because their debt ratios are too high yet they have a large dollar amount of liquid assets.

We use a calculation to give the borrower a monthly income based on the total amount of liquid assets.

Money House

 

We provide asset depletion mortgage loans up to 3 million USD.

Up to 50% DTI (Debt to Income) ratio.

Primary Residence, 2nd Home, Investment property

We calculate the income and debt to income ratio’s used based on each type of liquid account and a certain percentage of that account can be given a monthly income to be used for qualification.

Funds held in a trust can be used. The borrower of the loan has to be the beneficiary of the funds in the trust account.

Types of liquid accounts that can be used are:

  • Checking account
  • Savings account
  • Mutual Fund
  • Roth IRA (Traditional IRA)
  • 401-K
  • Bond’s
  • Stocks