The Asset Utilization Program is designed for borrowers with strong assets but limited or non-traditional income documentation. Qualifying is based on eligible assets rather than employment or tax returns.
Program Highlights
– No tradeline requirement (with 3 credit scores)
– Up to 80% LTV on non-owner-occupied and eligible properties
– Unlimited cash-in-hand allowed
– Cash-out proceeds may be used as reserves
– Loan amounts up to $4,000,000
Eligible Property Types
– Single-Family Residences (SFR)
– Condos & Condotels
– Studios
– 2–4 Unit Properties
– Eligible Assets for Qualification
– 100% of checking, savings, and money market accounts
– 70% of stocks, bonds, and mutual funds