Asset Utilization Qualification Loans in Jeffersonville, IN
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Asset Utilization Qualification Loan
Are you a new retiree looking to purchase a new home or refinance an existing one and aren’t sure how to qualify? We can help!
There are ways to obtain a mortgage with no income but assets. It can be confusing to understand exactly how to qualify if you do not have a steady paycheck aka revenue stream. Let us explain.
The stocks, bonds, mutual funds, vested value of retirement account (401k, Roth IRA), and money market can all be used in place of a paycheck.
If you’ve had $200,000 in your eligible asset (the stocks, bonds, mutual funds, etc.) balance for the past 36 months, then we’d simply divide the two numbers. $200,000 /36 = $5,555 for your monthly income.
If you aren’t retiree but are interested in a similar loan product, then we’d suggest the Alternative Income loan.
We offer many unique loans that can be viewed here.
Is an Asset Utilization Qualification Loan the right loan for you!?! Give us a call at 812-941-0926 and we can discuss with you or fill out our online application.
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