Borrowers May Use Liquid Assets to Qualify for Mortgage aka Asset Depletion

by Marsha Willingham on 08/02/2017

in Buyers Information, Buyers loan information, Latest News

Asset Dissipation or Asset Utilization or Asset Depletion allows applicants with significant liquid assets to use those assets as income for qualifying purposes to obtain a mortgage loan.  These products can be the perfect solution when the borrower has sufficient assets but difficulty proving income.    In addition to using their assets and the income derived from them to qualify for a loan, they do not have to liquidate their assets and continue to benefit from their earnings.    Also, if you just graduated from college with a technical or professional degree, you can utilize the income that is standard for that profession to establish a baseline qualifying income.    Potentially applicable borrowers include self-employed, retired (or almost retired) and wealthy.

Please contact Bob Franklin at Wells Fargo for more detailed information on this type of loan.  (805) 550-3395.

email:  bob.franklin@wellsfargo.com.

 

 

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