What is Asset Utilization / Depletion?
The “Asset Depletion / Utilization” Non-QM program is designed for asset-rich borrowers, providing an attractive LTV of up to 90% across diverse property types. It maximizes the value of your borrowers’ liquid assets, offering 100% credit for checking and savings, and effectively accounting for their investments in stocks, bonds, and retirement accounts. With a straightforward FICO requirement of 640 and a flexible approach to recent credit events, it streamlines the lending process. Importantly, its wide-ranging inclusivity embraces both US Persons and ITIN holders, ensuring you have a compelling, asset-centric mortgage solution to offer your borrowers.
Need an Asset Utilization / Depletion loan scenario review?
If you have a client scenario that you would like our team to review, please use our simple prequal submission form.
PROGRAM HIGHLIGHTS
- Up to 90% LTV / 640 Min FICO
- Loan Amounts From $125K to $3.5M
- Purchase, Rate/Term and Cash Out
- OO, Second Home, NOO
- Qualified Assets: 100% Credit of Checking, Savings and Money Market; 80% Stocks and Bonds; 60–70% of Retirement Accounts
- U.S. Citizen, Permanent and Non-Permanent Residents, ITIN