Asset Depletion & Asset Utilization: Two Choices for Utilizing Property Solely to Qualify
When conventional earnings documentation doesn’t suit your monetary profile, our asset-based qualifying strategies might be the right answer. Right here’s how they work:
1. Asset Depletion (AD)
This technique means that you can convert your qualifying belongings right into a month-to-month earnings determine. The calculation is easy:
Qualifying Property / 84 = Month-to-month Earnings
2. Asset Utilization (AU)
This feature is designed for debtors with substantial belongings. It requires that you’ve at the least 125% of the mortgage quantity in belongings post-closing, with a minimal of $1.0 million. This technique 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 big property, now we have you lined.
Be happy to succeed in out to us for extra data or to start out your mortgage software course of. At MortgageDepot, we’re right here to make your homeownership journey as easy and profitable as potential.
