Discover The Possibilities Of Asset Depletion And Asset Utilization – MortgageDepot

Asset Depletion & Asset Utilization: Two Choices for Utilizing Property Solely to Qualify

When conventional revenue documentation doesn’t suit your monetary profile, our asset-based qualifying strategies might be the right answer. Right here’s how they work:

1. Asset Depletion (AD)

This technique permits you to convert your qualifying belongings right into a month-to-month revenue determine. The calculation is simple:

Qualifying Property / 84 = Month-to-month Revenue

2. Asset Utilization (AU)

This feature is designed for debtors with substantial belongings. It requires that you’ve got no less than 125% of the mortgage quantity in belongings post-closing, with a minimal of $1.0 million. This technique 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 big property, we’ve you lined.

Be happy to succeed in out to us for extra data or to start out your mortgage software course of. At MortgageDepot, we’re right here to make your homeownership journey as clean and profitable as attainable.