Discover The Possibilities Of Asset Depletion And Asset Utilization – MortgageDepot

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 may be the right answer. Right here’s how they work:

1. Asset Depletion (AD)

This methodology lets you convert your qualifying belongings right into a month-to-month earnings determine. The calculation is simple:

Qualifying Belongings / 84 = Month-to-month Earnings

2. Asset Utilization (AU)

This selection is designed for debtors with substantial belongings. It requires that you’ve 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 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 residence or refinancing a major property, we have now you lined.

Be at liberty to succeed in out to us for extra info or to begin your mortgage utility course of. At MortgageDepot, we’re right here to make your homeownership journey as easy and profitable as potential.