Asset Qualification Loans means the borrowers are qualified based on verified liquid assets. This includes borrowers with non-traditional income, such as self-employed borrowers and foreign nationals because employment and income are not required to be disclosed on the mortgage loan application. Upon meeting fund seasoning from an approved bank, no domestic seasoning is required. Perfect for high net worth borrowers and foreign nationals.

Lending CriteriaDescription
Purpose:
  • Purchase and Refinance
Property Type:
  • Single Family Residence (1-4)
  • Condominium
  • Townhomes
  • Planned Unit Developments
Max Loan-to-Value:
  • Purchase: 80%
  • Refinance: 80%
  • Cash-out: 75%
Minimum Credit Scores:
  • 680
Prepayment Penalty:
  • None
Maximum Debt-to-Income (DTI):
  • 50%
Recourse:
  • Yes
Broker Fee:
  • 1-2 points (subject to loan)
Terms:
  • 30 / 15-Year Fixed
  • 5 / 7 / 10-Year ARM’s
  • 5 / 7 / 10-Year ARM’s – Interest Only
Loan Amounts:
  • $100,000 – $3,000,000
Maximum Cash-Out:
  • $1,500,000
Closing Timeframes:
  • 45-60 days
Amortization:
  • 15 & 30-Years
Collateral:
  • 1st Trust Deed
Other Costs:
  • 3rd Party Fees