Asset Depletion & Asset Utilization: Two Choices for Utilizing Belongings Solely to Qualify
When conventional revenue documentation doesn’t suit your monetary profile, our asset-based qualifying strategies may be the right answer. Right here’s how they work:
This methodology lets you convert your qualifying belongings right into a month-to-month revenue determine. The calculation is simple:
- Qualifying Belongings / 84 = Month-to-month Earnings
This feature is designed for debtors with substantial belongings. It requires that you’ve got no less than 125% of the mortgage quantity in belongings post-closing, with a minimal of $1.0 million. This methodology can present a extra versatile method to qualifying for a mortgage.
Key Options of Our Asset-Based mostly Qualifying Tips
- As much as 90% Mortgage-to-Worth (LTV): Maximize your borrowing potential with excessive LTV ratios.
- 640 Minimal Credit score Rating: Accessible to a variety of debtors.
- Mortgage Quantities As much as $5,000,000: Whether or not you’re buying a luxurious house or refinancing a major property, we have now you coated.
Be at liberty to attain out to us for extra info or to begin your mortgage software course of. At MortgageDepot, we’re right here to make your homeownership journey as clean and profitable as doable.