Good Morning!
I hope you are having a good week so far!
Every now and then I like to spotlight unusual products we carry.
Today, I want to tell you how Asset Depletion loans work.
If you have no income to speak of, or at least you can’t prove your income via traditional means, or even using bank statement deposits, then Asset Depletion may be an option for you.
If you have assets – such as a large retirement account, or securities or savings accounts – then we can plug these assets into a calculation we use to produce a monthly income for you (even though you don’t actually receive this income).
It’s pretty cool, and it’s considered a Full Doc loan! …that means you can get great rates and a low down payment with this type of loan.
If you think you might fall into this situation and want to see how much house you could buy – shoot us an email or call us and we can get you what you need.
Thanks for reading!
Have a good day!