Assets Loan
For High Net Worth Buyer.
• Qualification is based on assets.
• 10% Down Payment (760+ Credit Score)
15% Down Payment (700-759 Credit Score)
20% Down Payment (680-699 Credit Score)
• 680 Minimum Credit Score.
• 6 Months of most recent statements.
• Minimum $250,000 Loan Amount
ELIGIBLE ASSETS:
• 100% of checking, savings, money market accounts
• 70% of stocks, bonds, mutual funds
• 70% of retirement assets if borrower is of retirement age (59 1/2)
• 60% of retirement assets if borrower is not of retirement age
MINIMUM ELIGIBLE ASSETS:
= The lower of $1M or 150% of Loan Amount
QUALIFYING MONTHLY INCOME:
= (Total Eligible Assets – down payment – closing costs – required reserves) % 100