Asset based and no-income home loans

Asset depletion and asset qualifier programs convert a portfolio into qualifying income without selling anything. The haircut schedule, the 84 month divisor, the residual income test, trust and crypto treatment, and the five things these loans will not do.

Your net worth went up and your qualifying income went to zero.

Retirement, a business sale or a portfolio built over decades all produce the same result in an underwriting system with no field for wealth. Asset based programs exist for exactly that file.

Qualifying assets divided by 84 months.

That is the mechanic. The complication is that "qualifying assets" is not your balance: checking and savings count at 100%, stocks, bonds and mutual funds at 80%, vested retirement at 70%, and cryptocurrency at 60%. Money used for closing comes out before any of it is calculated.

Two programs, two different tests.

Asset depletion converts assets to income and runs a debt-to-income ratio. Asset qualifier subtracts your monthly debt and tests the residual against a floor. A file that fails one frequently clears the other, and most lenders run only one.

Run the numbers yourself

Cash-Out Refinance Calculator

Enter every loan on the home and every debt to pay off. Returns the blended rate you carry today, the new loan amount and loan-to-value, and a new payment priced at the latest Freddie Mac survey average, refreshed daily and shown dated.

Rate Buydown Calculator

Compares 3-2-1, 2-1 and 1-1 temporary buydowns against a 30-year fixed and a permanent buydown funded with the same seller concession, and shows the month one passes the other.

Mortgage Calculator

Payment, taxes, insurance and mortgage insurance on a straightforward purchase.

Find out which documentation option qualifies you for the most

Bank statements, a third-party P&L and full documentation routinely produce very different qualifying income from the same business. Tell me the shape of yours and I will run all three.

Talk to the principal, not a call center

Ricky Khamis is President of EPiQ Lending and a Certified Mortgage Planner, NMLS #173141, originating mortgages since 1999. EPiQ Lending is NMLS #1936984, at 7975 N. Hayden Road, Suite A-101 in Scottsdale. Verify all of it before you trust any of it: the EPiQ Lending profile, the Scottsdale branch, and the license itself at NMLS Consumer Access.

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