60 Month Asset Utilization Qualification
Qualify by dividing assets over 60 months!
- Up to 80% LTV – Purchase / Rate and Term
- Up to 75% LTV Cash-out Refinance
- Assets seasoned for a minimum of three (3) months
- Minimum FICO 600
- Owner-Occupied, 2nd home or Investment
- Qualify with:
- Liquid assets can be:
Savings and Checking
Stocks, bonds, mutual funds
Vested amount of retirement and money market accounts
How to Calculate Asset Utilization
- The qualified assets to be used are divided by 60 months.
- Ex. $300,000 in qualified assets = $5,000 additional monthly income
No Ratio Owner Occupied
Qualify your borrower based on their immediate cash on hand!
- Maximum LTV 80%
- Minimum FICO 600
- Qualified assets must cover the new loan amount, down payment, closing costs, required reserves, and five (5) years of current monthly obligations.
- There is NO Debt Ratio Calculation
- Income not required to be disclosed on 1003
- Purchase, Rate/Term, or Cash Out Refi
- Show Three (3) months of qualifying assets