Asset Depletion & Asset Utilization: Two Choices for Utilizing Belongings Solely to Qualify
When conventional earnings documentation doesn’t suit your monetary profile, our asset-based qualifying strategies could be the right answer. Right here’s how they work:
1. Asset Depletion (AD)
This technique means that you can convert your qualifying property right into a month-to-month earnings determine. The calculation is simple:
Qualifying Belongings / 84 = Month-to-month Revenue
2. Asset Utilization (AU)
This feature is designed for debtors with substantial property. It requires that you’ve got not less than 125% of the mortgage quantity in property post-closing, with a minimal of $1.0 million. This technique can present a extra versatile strategy to qualifying for a mortgage.
Key Options of Our Asset-Primarily based Qualifying Pointers
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 dwelling or refinancing a big property, we have now you coated.
Be at liberty to achieve out to us for extra data or to start out your mortgage utility course of. At MortgageDepot, we’re right here to make your homeownership journey as easy and profitable as potential.
