QUALIFY BASED ON LIQUID ASSETS

Sample Loan Scenario

– Total Assets (adjusted according to asset type)

$2,000,000

– Loan Amount

$1,250,000

New Balance: $750,000

– 5 Years Of Debt Service

$600,000

Final Balance: $150,000

Sample Loan Scenario is a hypothetical example only.

  1. Asset Adjusted for cash (100%), IRA (90%), 401K (80%)
  2. New Loan amount deducted from total assets
  3. Debt Service includes Property Tax, Insurance, Auto Payments, Student Loan Payments, Credit Card Payments, etc
  4. Debt Service does ‘NOT’ include Principal and Interest as the entire New Loan Amount (#2) has already been deducted
  5. If Final Balance (after 1,2 & 3) is enough to cover Post-Closing reserves at least 3 months (upto a maximum of 12 months) depending upon FICO score, then the Asset Qualification is satisfied. No income , no employment, no tax returns required