The Asset Qualifier Program: Simplifying Mortgage Qualification with Liquid Assets

In today's dynamic financial landscape, securing a mortgage can be a complex and often stressful process, particularly when traditional income documentation methods are involved. The Asset Qualifier Program offers an innovative solution designed to simplify mortgage qualification for borrowers who possess substantial liquid assets. This program stands out by focusing solely on the borrower's liquid assets, bypassing the need for income or employment verification. Here's a detailed look at how the Asset Qualifier Program works and why it might be the ideal solution for you.

Understanding the Asset Qualifier Program

The Asset Qualifier Program is a unique mortgage solution that allows borrowers to qualify for loans based purely on their liquid assets. This includes cash, marketable securities, retirement funds, and the cash surrender value of life insurance or annuity contracts. Unlike traditional mortgage programs, the Asset Qualifier does not require income documentation or employment verification, making it a straightforward option for those with significant assets.

Key Features and Benefits

1. Simplified Qualification:

• Asset-Based Qualification: The program uses the borrower's liquid assets to determine eligibility, eliminating the need for income or employment verification.

• No Debt-to-Income Ratio: Since income isn't considered, no debt-to-income ratio (DTI) is developed, streamlining the approval process.

2. Broad Eligibility:

• Various Property Types: The program covers a wide range of property types, including primary residences, second homes, and investment properties.

• High Loan Amounts: Borrowers can access substantial loan amounts, with options up to $3,000,000 depending on the asset level and property type.

3. Flexible Asset Considerations:

• Liquid and Marketable Assets: 100% of cash and cash equivalents, 80% of marketable securities, and 70-80% of retirement funds are considered for qualification.

• No Age Restrictions for Retirement Funds: Borrowers of retirement age can use 80% of their retirement funds for qualification, without needing to liquidate them immediately.

How It Works

1. Asset Calculation Methods:

• Method One: Mortgage Only: Post-closing assets must equal 125% of all outstanding mortgage debt.

• Method Two: Simplified: Total post-closing assets must be 110% of the subject loan amount plus 25% of all other outstanding debts.

• Method Three: Traditional: Requires 100% of the loan amount, reserves per program guidelines, and 60 months of other debt service.

2. Documentation Requirements:

• Six Months of Statements: Borrowers must provide the most recent six months of statements for accounts used to qualify.

• Verification of Assets: Asset balances need to be verified within 120 days of the note date, ensuring all large deposits are sourced and documented.

Who Can Benefit?

The Asset Qualifier Program is particularly beneficial for:

• High Net-Worth Individuals: Those with substantial liquid assets but irregular or difficult-to-document income.

• Retirees: Individuals with significant retirement funds looking to purchase or refinance without using traditional income sources.

• Investors: Property investors who rely on asset appreciation and liquid investments rather than regular income streams.

Conclusion

The Asset Qualifier Program offers a streamlined and efficient way for asset-rich borrowers to secure mortgage financing. By focusing on liquid assets, this program eliminates the traditional hurdles associated with income and employment verification, providing a straightforward path to homeownership or property investment.

For more information or to see if you qualify, contact us today at 602-628-1231 or info@allapprovedhere.com. Our team is ready to help you navigate this innovative mortgage solution and achieve your financial goals.