fbpx

Asset Utilization

Not all borrowers fit neatly into the boxes required by traditional lenders. Some borrowers are investors, self-employed, entrepreneurs, retired, or simply living off their investments. They are financially responsible people, but they might not have sources of income that are easily quantifiable.

A&D Mortgage’s Asset Utilization loans allow these kinds of borrowers to use their personal and business assets as a means to qualify for a home mortgage.

Program highlights:

  • FICO 580
  • 80% LTV
  • Cash-out up to 75% LTV
  • Savings and checking 100%
  • Securities at 90%
  • Retirement at 70%
  • Cash out available
  • Income calculation – all eligible assets divided by 60
  • Super Prime & Prime programs

Join Us

  • Get in touch with us

Other Programs

block view
row view

DSCR

- FICO 599
- Up to 80% LTV
- Loan amounts up to $3 million
- Max cash in hand $1 million, no limit for LTV <55%
- 40-& 30-year fixed, 5/1 ARM, and 7/1ARM terms
- No income or employment verification
- DSCR as low as 0
- Cash-out proceeds may be used for reserves
- Eligible for Non-Permanent Residents and Foreign Nationals
- DSCR is available under Foreign National Program
- Ownership of any property within the past 24 months
- Condotels allowed

12/24 Months Bank Statements

- FICO 580
- 90% LTV
- Loan amounts up to $4 million
- Max cash in hand $1 million, no limit for LTV < 55%
- 3 months reserves
- 12 months from bankruptcy or foreclosure
- Mortgage history 0 x 60 x 12
- Combination of business and personal bank statements allowed
- Condo and condotels allowed

Freddie Mac Refi Possible

- Designed for lower-income families
- Limited to owner-occupied, 1-unit primary residence financed through Fannie Mae or Freddie Mac
- Lowers interest rate by 0.5% and monthly payment by at least $50
- FICO 620
- Up to 97% LTV
- Income at or below 80% of the area median income (AMI)
- Maximum DTI 65%
- Borrower will receive $500 credit at closing if they have an existing appraisal
- Roll up to $5,000 in closing costs for those with limited cash to close. Cash-out limited to $250
- Reduced documentation requirements

Fannie Mae Refi Now

- Designed for lower-income families
- Limited to owner-occupied, 1-unit primary residence financed through Fannie Mae or Freddie Mac
- Lowers interest rate by 0.5% and monthly payment by at least $50
- FICO 620
- Up to 97% LTV
- Income at or below 80% of the area median income (AMI)
- Maximum DTI 65%
- Borrower will receive $500 credit at closing if they have an existing appraisal
- Roll up to $5000 in closing costs for those with limited cash to close. Cash-out limited to $250
- Reduced documentation requirements