Asset Depletion / Asset Qualifier Program
Borrowers with great credit, but no steady monthly income, may be able to use their assets to qualify for a mortgage. Compared to asset depletion, LendSure’s Asset Qualifier program essentially doubles the qualifying monthly income, since the draw period is only 5 years (qualifying assets / 60 months).
- Asset Qualifier – Qualifying Income = Qualified Assets divided by 60
Asset Depletion – Qualifying Income = Qualified Assets divided by 120 - No minimum age requirement
- Primary Residence and Second Home:
– Up to 80% LTV for Primary Purchase and R/T Refinances
– Up to 80% LTV for Second Home Purchase & 75% for R/T Refi
– Up to 70% LTV for Cash-Out Refinances - Investment Properties:
– Up to 80% LTV for Purchase
– Up to 75% LTV for R/T Refinances
– Up to 70% LTV for Cash-Out Refinances - DTI as high as 50%
Our knowledgeable Account Executives are experts in Non-QM loans and will help you find solutions for your borrowers so you can close more deals each month. Contact your LendSure Account Executive to talk through your borrower’s loan scenario.
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