Asset Utilization Loan | Kishore Kukalakuntla, 1st 2nd Mortgage

Overview

An asset utilization (asset depletion) loan uses your liquid assets, such as bank, brokerage and retirement accounts, to calculate qualifying income, with no employment required.

Ideal For

Retirees, high-net-worth borrowers and anyone with significant assets but limited regular income.

Program Highlights

✓Qualifying income = qualifying liquid assets divided by 60 months
✓No employment or traditional income documentation required
✓Up to 80% CLTV with a minimum 620 FICO; loan amounts up to $4 million
✓Minimum 3 months of reserves

Program terms and eligibility are subject to underwriting guidelines and may vary. 1st 2nd Mortgage Co. of N.J., Inc. is licensed in DE, VA. NMLS # 115981.