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What are Asset Depletion Loans
'Asset Depletion Loans utilize a calculation method that converts your eligible assets into a verifiable income stream. This income stream is then used to qualify you for the mortgage loan. It's a fantastic option for those with substantial savings, investments, or retirement accounts.'
Asset Utilization Loans take a slightly different approach. They assess your overall financial picture, taking into account your assets and liabilities. The lender will analyze your assets to determine your borrowing capacity and ensure you have sufficient funds to make your mortgage payments comfortably.
Who Qualifies for Asset Depletion & Asset Utilization Loans?
Retirees
Have accumulated substantial assets in retirement accounts but have limited income.
High-Net-Worth Individuals
Possess a high net worth but may not have significant taxable income.
Investors
Keep your DTI low for better loan terms.
Business Owners
Have assets tied up in their business but receive a lower salary.
Anyone with Significant Assets
Even if you have a steady income, you can use your assets to strengthen your mortgage application.
Benefits of Asset Depletion & Asset Utilization Loans
These loan types offer a range of benefits that make them an attractive option for many borrowers:
No Income Verification:
In many cases, traditional income verification is not required.
Leverage Your Wealth:
Use your assets to qualify for a mortgage, even with limited income.
Flexible Property Types:
Finance a variety of properties, including primary residences, second homes, and investment properties.
Diverse Loan Options:
Loan Lock Home Loans offers both Asset Depletion and Asset Utilization Loans, tailoring the solution to your specific financial situation.
Streamlined Application Process:
Our experienced team will guide you through the application, ensuring a smooth and efficient experience.
Competitive Rates and Terms:
We offer competitive interest rates and flexible terms to meet your financial goals.
Maximizing Your Borrowing Potential
We understand that every borrower's financial situation is unique. That's why we offer a variety of asset-based loan programs to help you maximize your borrowing potential:
Standard Asset Depletion/Utilization
Convert your assets into verifiable income using a standard calculation method
DSCR with Asset Depletion
Secure a lower interest rate to reduce monthly payments and overall interest paid.
1099 Only with Asset Depletion
Secure a lower interest rate to reduce monthly payments and overall interest paid.
ITIN and Foreign National with Asset Depletion
Secure a lower interest rate to reduce monthly payments and overall interest paid.
Flexible Qualifying Guidelines
Maximum DTI Flexibility
Our standard DTI is 50%, but we can use asset depletion to accommodate up to 60%.
Why Choose Loan Lock Home Loans?
Our experienced team specializes in asset-based lending and understands the complexities of your financial situation..
We offer a variety of asset-based loan programs to fit your individual needs.
We provide clear communication and guidance throughout the loan process.
We offer competitive interest rates and flexible terms.
We strive to expedite the loan process to help you achieve your goals quickly.
How Can we Help?
Relax and take comfort in knowing that our 24/7 support ensures you're never alone on your financial journey.
Get in touch with our Loan Agents at
714-814-2125
Loan Lock Home Loans
NMLS# 390320
714-814-2125
6 Hutton Centre Drive,Suite 1030, Santa Ana,CA92707
info@loanlockhomeloans.com
Business Hours Monday - Friday 8:00 AM to 5:00 PM PST
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Address: 6 Hutton Centre Drive,Suite 1030, Santa Ana,CA92707
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