Asset Depletion Mortgage

By
Mortgage and Lending with Mann Mortgage 290395

Asset Depletion allows mortgage applicants with significant assets to qualify for a home loan. Those financial assets may be used as income for qualifying purposes on an asset depletion mortgage. Retired and non retired borrowers are allowed to qualify for an asset depletion mortgage.  Self employed income, salaried, or retirement income is eligible.  

Eligible assets for an asset depletion mortgage are checking, savings, cd's, bonds, 401k, IRA or surrender value of insurance policies.  All funds must be seasoned 60 days and large deposits must be documented when applying for an asset depletion mortgage.  

Here is a sample of how to calculate additional income on an asset depletion mortgage:

 

Please contact me by email or cell if you are interested in learning more about asset depletion mortgages.

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Mike Walsh

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