Asset utilization
Qualify using liquid assets as the primary basis for repayment
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Asset utilization
About program
The Asset Utilization Program is intended for high net-worth borrowers who may not have a steady W-2 or 1099 income stream but hold substantialliquid assets. The lender calculates a notional “income” by dividing eligible assets over a certain number of months, allowing the borrower to qualifybased on assets rather than traditional earnings.
Key features
- No tradeline requirement w/ 3 credit scores
- Non-perm up to 80% LTV
- Unlimited cash-in-hand
- Cash-out used for reserves
- SFR, condotels, condos, studios, 2-4
- Loan amounts up to $4m
- 100% of checking, savings, money market
- 70% of stocks, bonds, mutual funds
- Divide by 84
Required to Disclose
Credit report
(cannot be older than 60 days) - must be merged into the LOS.
Borrowers' ID
(passport or driver's license).
Purchase contract
(if applicable)
Complete loan application
(including income & employment)
Submission form completed
Required to Underwrite
(in addition to above)
Two most recent statements for all assets used to calculate income.
FAQ
What assets can be counted?
Generally, liquid assets such as checking, savings, money market accounts, CDs, stocks, bonds, or retirement accounts (with certain limitations).
How is the asset calculation done for retirement accounts?
Typically, only a percentage of retirement account balances are used (e.g., 70% if you’re under 59½) to account for penalties.
What is the minimum eligible asset requirement?
The minimum eligible assets required are the lowest of 1M or 150% of the loan balance.
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