Stated Income Home Loans: Asset Depletion income

Post date: Apr 16, 2015 12:37:54 AM

Adding Asset Depletion income is a powerful tool for qualifying more loans:


The borrower’s assets can be used, in addition to traditional income calculations, if needed to help qualify. See attached grid for monthly income based on age and total of eligible assets.


Eligible assets include:


          Checking and savings accounts

          Money Market Accounts


          Publicly traded stocks


          Mutual Funds

          Trust funds

          Retirement accounts- only if the borrower is of retirement age

          Cash out- on a case by case basis

·       Assets do not need to be withdrawn/moved or pledged.

·       Provide most recent 2 months statements for all accounts used to qualify.

·       Pricing adjustment of .25 to fee for Asset Depletion.

·       This can be used for o/o, 2nd home and NOO transactions.

·       Portfolio ARM Product


Please call or email me for additional information and/or questions. Massey K. 949-244-1880