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 might be the right resolution. Right here’s how they work:
1. Asset Depletion (AD)
This methodology permits you to convert your qualifying belongings right into a month-to-month revenue determine. The calculation is easy:
Qualifying Belongings / 84 = Month-to-month Revenue
2. Asset Utilization (AU)
This selection is designed for debtors with substantial belongings. It requires that you’ve got at the very least 125% of the mortgage quantity in belongings post-closing, with a minimal of $1.0 million. This methodology can present a extra versatile strategy to qualifying for a mortgage.
Key Options of Our Asset-Primarily based 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 dwelling or refinancing a major property, now we have you coated.
Be at liberty to achieve out to us for extra data or to begin your mortgage utility course of. At MortgageDepot, we’re right here to make your homeownership journey as easy and profitable as attainable.