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ASSET-BASED HOME LOANS

OUR ASSET-BASED LENDING PROGRAMS ARE DESIGNED TO USE AN APPLICANT'S LIQUID WEALTH PORTFOLIO TO QUALIFY.

ASSET-BASED HOME LOAN PROGRAMS ARE PERFECT FOR APPLICANTS WITH SUBSTANTIAL LIQUID WEALTH, BUT WHO MAY EARN OR REPORT LITTLE OR NO INCOME ON THEIR FEDERAL INCOME TAX RETURNS. The term 'liquid wealth' refers to US-based bank accounts, retirement accounts, stocks, money market accounts and investment accounts, etc.

 

In other words, if you have amassed enough liquid money to live off of the dividends, then this program is likely ideal for you.

 

There are two ways to qualify for this type of program:

 

1. ASSET DEPLETION - Sometimes referred to as "Asset Annuitization". This means that in order to calculate the income for your new loan, we take the total qualifying liquid assets, and then divide by a certain amount of months.

2. ASSET MATCHING - This means that we compare the amount of remaining liquid assets (after removing the down payment, settlement charges, and reserves), and compare it to the new loan amount.  If the remaining assets are larger than the new loan amount, then the loan qualifies from an income standpoint.

 

Now you can put your money to work for a mortgage, just like it does with your other financial endeavors.

NOTE: REAL ESTATE WEALTH and CRYPTOCURRENCY WEALTH are not considered eligible assets for an Asset-based loan program.

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👉  KEY PROGRAM HIGHLIGHTS:

 

  • Qualify using the strength of your liquid assets instead of Federal tax returns.

  • Use multiple income sources (such as Social Security, Pension awards) can be used to qualify, in addition to the liquid asset income.

  • No Federal tax returns needed to qualify, but can also be used if needed.

  • Keep your money where you want it.  The income we derive from your liquid assets is for qualification purposes only. We do not govern your accounts in any way.

  • Keep your financial planning and banking relationships intact. We do not require that you move your money or sacrifice your existing relationships in order to qualify.

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🚀  WHO IS THE IDEAL CANDIDATE  FOR AN ASSET-BASED LOAN?  

 

  • Ideal for applicants who live off of the interest from their liquid assets,

  • Ideal for applicants who do not qualify for a traditional mortgage because they do not "show enough income" on their Federal income tax returns.

  • Ideal for applicants who are retired, but do not have a structured withdrawal schedule from their retirement account(s).

  • Retired and Non-Working applicants, regardless of age, who live off their liquid assets.

  • Self-Employed applicants with well-performing investments, who have experienced difficulty obtaining a traditional mortgage due to complications arising from tax return analysis.

 

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ConventionalFlexPrivate ClientFlex

WE OFFER 4 DIFFERENT TYPES OF ASSET-BASED INCOME APPROACHES

AMORTIZATION

(MONTHS)

AMORTIZATION

(MONTHS)

ASSET-BASED INCOME FOR QUALIFICATION

ASSET-BASED INCOME FOR QUALIFICATION

MAX LOAN AMOUNT IN MOST AREAS

MAX LOAN AMOUNT IN MOST AREAS

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Side-By-Side Comparison of different programs based on the following scenario:

PURCHASE of a SINGLE-FAMILY HOME

REMAINING NET ASSETS:  $750,000

(AFTER DOWN PAYMENT/ SETTLEMENT CHARGES/ RESERVES)

360

Proprietary

calculation

84

ASSET

MATCHING

$2,083/mo

$4,166/mo

$8,925/mo

N/A

$766,550

(for 2024)

$3MM

$3MM

$4MM

NONE

AGE RESTRICTIONS

(Income only) *

NONE

62 OR OLDER *

NONE

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AGE RESTRICTIONS

(Income only)*

* Conventional loans require that the applicant be 62 years of age in order to use liquid assets as income (asset depletion / asset annuitization).

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HERE IS A COMPARISON OF A CONVENTIONAL LOAN PROGRAM VS OUR OWN PRIVATE CLIENT PORTFOLIO PROGRAM.

There are several types of loan programs in the marketplace that offer an ASSET-BASED INCOME APPROACH (sometimes referred to as 'Asset Depletion' approach), but the most common example is a traditional Conventional loan program.

CONVENTIONAL

(Fannie Mae)

Maximum Loan Size:

$766,550

BASIC INCOME FORMULA:

Total Liquid Assets Minus Transaction Costs (Down Payment + Settlement Charges + Reserves)

…then divide that number by 360 months.

IF THE APPLICANT HAS

$750,000

LEFT OVER AFTER CLOSING, THE INCOME CALCULATION WOULD BE

$ 2,083/mo

The resulting figure becomes monthly income that the lender uses to qualify the applicant.  

PRIVATE CLIENT PORTFOLIO

Maximum Loan Size:

$3MM

INCOME BASIC FORMULA:

Total Liquid Assets Minus Transaction Costs (Down Payment + Settlement Charges + Reserves)

…then divide that number by 240 months.

+ additional underwriter discretionary income (proprietary calculation)

IF THE APPLICANT HAS

$750,000

LEFT OVER AFTER CLOSING, THE INCOME CALCULATION WOULD BE

$ 3,125/mo - $4,500/mo

The resulting figure becomes monthly income that the lender uses to qualify the applicant.  

As you can see, Conventional loans can be restrictive in their approach. Additionally, the amount you can borrow is limited to the Conventional loan size limit for a given area (currently $766,550 in most areas of Florida).

Thankfully, there are other options. For instance, our Private Client Portfolio program has a much more generous approach, allowing 30% - 40% more income vs a  Conventional loan. It typically has lower interest rates than Conventional programs, and best of all, WE CAN ACCOMMODATE LARGER JUMBO-SIZED LOAN SIZES UP TO $3 MILLION.

  • They can be used in purchase transactions, rate & term refinances, and cash-out refinances.  

  • Asset-based lending can be used to purchase a Primary Residence, or Second/Vacation homes, but is generally not intended for Investment purposes.

  • This type of program is designed for well-qualified applicants.

KEEP YOUR EXISTING FINANCIAL RELATIONSHIPS INTACT:

  • WE DO NOT REQUIRE YOU TO MOVE YOUR MONEY AROUND BETWEEN INSITUTIONS,  so you can keep your existing investment/ banking/ and retirement relationships and strategies as they are.

AGE MINIMUMS:

  • Under our own Private Client Portfolio Program, APPLICANTS DO NOT NEED TO BE OF RETIREMENT AGE TO UTILIZE LIQUID ASSETS FOR QUALIFICATION PURPOSES. This is ideal for people who have achieved wealth earlier in their lives; as well as for people who are technically of retirement age who are looking to delay retirement withdrawals for tax purposes.
  • For Conventional loans, the applicant must be at least 62 years of age in order to use assets as income for qualification

If you are living off of your liquid assets, we would be delighted to discuss your scenario and answer all of your questions. We would also be happy to arrange a conversation with your financial professional to ensure that program fits into your long-term financial plans.

Remember, stop letting these banks and credit unions tell you NO,
when we have more reasons to say YES.

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This is not a commitment to lend.  Not all borrowers will qualify for the loan programs listed.  All program terms and conditions are subject to change and may be discontinued without prior notice. Contact loan originator for program questions and scenarios.