debt ratio: Debt Ratio Issues?? We Allow Borrowers to Use Liquid Assets as Income - Florida
- 10/29/13 02:33 AM
Do you have a client that has been turned down due to debt ratio's? This can often be the case with self employed borrowers who have tons of deductions. Some of these buyers have substantial liquid assets in the form if IRA's, Stocks, CD's, and Bonds. Our New Portfolio product allows the use of these assets to increase income. Here is how it works:
Income is calculated as follows: 60% of liquid assets / half of new loan term = monthly income to qualify. Borrower has $250,000 in combined liquid assets and wants a 15 year mortgage Calculation: 60% X $250,000/90 (0 comments)