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An asset-based mortgage allows you to leverage your assets to qualify for a loan, even if you don't have a traditional income. This type of mortgage generates an 'income stream' from your assets by depleting them over the mortgage term, making it a viable option for those without regular income.
A high monthly income is required to qualify for an asset-based mortgage.
Only cash and savings are considered for asset-based mortgages.
Asset-based mortgages have higher interest rates than traditional loans.
You must liquidate your assets to qualify for an asset-based mortgage.
Asset-based loans, also known as asset utilization loans, use your assets as a basis for income qualification. These loans are ideal for retirees with limited income, new businesses, or established companies needing to maintain high cash flow. Asset-based loans and mortgages have become increasingly popular due to their flexibility and the benefits they offer to various borrowers.
Asset-based mortgages come with several unique benefits:
Utilize Your Assets: This program allows you to use your retirement savings and other assets to qualify for a mortgage, whether for purchasing a home or refinancing. Your loan amount and monthly payments are based on the value of your assets.
Minimal Income Requirement: Even if you have a small amount of verifiable income, asset-based mortgages can still be an option. These loans enable those with fixed incomes and substantial assets to secure financing.
Preserve Your Investments: Rather than using all your assets upfront, you can get a mortgage that allows you to keep your investments intact, giving them the opportunity to grow while you invest in a home.
Asset-based mortgages are crucial for individuals with significant assets but limited income. They allow you to qualify for a mortgage using your liquid assets without needing to invest all your money into the home upfront. This approach helps you preserve and potentially grow your assets while still securing the financing needed to purchase or refinance a property.
We bring a customized, unique approach to mortgages. Our lending solutions use the perfect hybrid of human-driven insights and technical prowess to process loans faster and significantly reduce costs.
