Asset Utilization - OWNER-OCCUPIED

If you have an ample amount of cash reserves, employment verification isn’t a requirement. Our process takes a holistic look at your total assets to determine if you’re qualified. Borrowers who love this program include: retirees, day traders, serial entrepreneurs, and those with trust funds.

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Program Details

Income Verification
  • No Statement Of Employment On 1003. No Employment Documentation Or Verification Required.
  • Qualifying Monthly Income = Post-Closing Assets X Utilization Factor (See Guidelines) ÷ 60 Months.
  • No Tax Returns Or W2s Required. Not A Bank Statement Program.
  • Up To 50% DTI
Asset Verification
  • 1 Month Bank Statement (Covering At Least 30 Days) For Each Asset Used To Qualify Income
  • 100% Gifts Allowed For Down Payment, Closing Costs, Reserves1 (Cannot Be Applied To Income Calculation)
  • Cash-Out Proceeds May Be Used Towards Reserves Only (Cannot Be Applied To Income Calculation)
Program Highlights
  • Purchase & Rate/Term Refinance Up To 80% LTV
  • Cash-Out Refinance Up To 75% LTV, Unlimited Cash-Out Funds
  • 1-4 Units, Condos, Coops, PUDs
  • Loan Amounts Up To $3,000,000
  • Minimum 660 FICO
  • 5/6m ARM2, 7/6m ARM2, 15 Or 30 Year Fixed
  • Interest Only Option Available On All Loan Terms Except 15 Year Fixed
  • First-Time Homebuyers Eligible, No LTV Restriction

Mortgage Rate Options

Adjustable ARM

Adjustable-rate mortgages include interest payments which shift during the loan's term, depending on current market conditions. Typically, these loans carry a fixed-i...

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Fixed Rate

The most common type of loan option, the traditional fixed-rate mortgage includes monthly principal and interest payments which never change during the loan's lifetime.

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Interest Only

Interest only mortgages are home loans in which borrowers make monthly payments solely toward the interest accruing on the loan, rather than the principle, for a specif...

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Graduated Payments

Graduated Payment Mortgages are loans in which mortgage payments increase annually for a predetermined period of time (e.g. five or ten years) and...

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