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.
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)