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Asset Depletion Loans are Great for the Self Employed and Fixed Income Borrower

June 21, 2014


An Asset Depletion loan will allow well off, self employed California home buyers to qualify for loan amounts that they would normally not qualify for, based on the regular underwriting  standards. Traditional underwriting standards only look at the income shown  on the most recent two years tax returns, Asset Depletion Loans will give a “boost” to their income so they will be able to qualify.

The mortgage program allows the borrower to qualify by deriving an income from assets they currently hold. Assets that can be used for qualifying include cash equivalents, such as CD’s, and funds in checking and savings accounts. Also, trust accounts and investment portfolios. Retirement accounts like IRA’s and 401k’s can only be used if the borrower is 59 1/2 years of age or older.

Asset Depletion can be used on many different types of loan programs, including loans for Foreign Nationals, Pledged Asset loans, and home loans on investment properties. It does not affect the assets themselves, It is only used for qualifying purposes.

Asset Depletion Matrix


Wait!  Don’t get a hard money loan!  If you are a borrower with sufficient liquid assets, but your income is not high enough to qualify for a mortgage loan. Then contact Platinum Mortgage today to talk to a mortgage professional . Depending on your assets we are able to qualify you for a loan up to $1 million.

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Job Opportunities? Now is the time to see how PMC Can Help you earn what you deserve!  Visit our Website and apply online today!

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