{"id":4346,"date":"2025-01-17T06:44:35","date_gmt":"2025-01-17T06:44:35","guid":{"rendered":"https:\/\/nysck.com\/NonQmMortgage.com\/?p=4346"},"modified":"2025-01-20T11:02:27","modified_gmt":"2025-01-20T11:02:27","slug":"asset-depletion-as-passive-income","status":"publish","type":"post","link":"https:\/\/nysck.com\/NonQmMortgage.com\/asset-depletion-as-passive-income\/","title":{"rendered":"Asset Depletion as Passive Income"},"content":{"rendered":"<p><strong><a href=\"#\">Asset Depletion<\/a><\/strong> is a method of calculating income based on the borrower&#8217;s liquid assets. This includes Employment-related assets such as lump sum distributions, 401K, IRA, SEP, Keogh accounts, stocks, bonds, and mutual funds. By leveraging these assets, borrowers can demonstrate their ability to repay a mortgage without relying on conventional income documentation.<\/p>\n<p><em><u>Asset Depletion Guidelines<\/u><\/em><\/p>\n<p>For those considering an Asset Depletion program, here are the key points to keep in mind:<\/p>\n<div class=\"dass\">\n&#8211; Eligible assets include stocks, bonds, and mutual funds, with withdrawal terms being a mandatory requirement.<br \/>\n&#8211; The maximum Loan-to-Value (LTV) ratio is 70%, applicable for purchase and rate\/term refinance transactions.<br \/>\n&#8211; The program is available for primary or secondary residences only.<br \/>\n&#8211; Borrowers must be the sole owners of the account, with no exceptions allowed.<br \/>\n&#8211; A minimum FICO score of 620 is required.<br \/>\n&#8211; Only 60% of the face value of the assets can be used, divided by the term of the loan.\n<\/div>\n<p><em><u>Other Investor Asset Depletion Guidelines<\/u><\/em><\/p>\n<p>This investor offers a slightly different approach to Asset Depletion with the following criteria:<\/p>\n<div class=\"dass\">\n&#8211; stocks, bonds, and mutual funds are acceptable assets.<br \/>\n&#8211; Borrowers can use 100% of the face value of these assets, but they must be at least 62 years old by the closing date.<br \/>\n&#8211; The asset value is divided by 240 months, regardless of the actual loan term.<br \/>\n&#8211; Borrowers must be the sole owners of the account.<br \/>\n&#8211; The maximum LTV is 80% for primary 1- and 2-unit properties and secondary residences.<br \/>\n&#8211; The program is limited to purchase and rate\/term refinance transactions.<br \/>\n&#8211; A minimum FICO score of 620 is required.\n<\/div>\n<p>Whether you&#8217;re a retiree with substantial savings or an individual with significant investment holdings, <a href=\"https:\/\/nysck.com\/NonQmMortgage.com\"><strong>we<\/strong><\/a> are here to guide you through the mortgage process with expertise and personalized service. Explore the possibilities of an <strong><a href=\"#\">asset depletion<\/a><\/strong> mortgage program.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Asset Depletion is a method of calculating income based on the borrower&#8217;s liquid assets. This includes Employment-related assets such as lump sum distributions, 401K, IRA, SEP, Keogh accounts, stocks, bonds, and mutual funds. By leveraging these assets, borrowers can demonstrate their ability to repay a mortgage without relying on conventional income documentation. Asset Depletion Guidelines [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4348,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-4346","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"_links":{"self":[{"href":"https:\/\/nysck.com\/NonQmMortgage.com\/wp-json\/wp\/v2\/posts\/4346","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nysck.com\/NonQmMortgage.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nysck.com\/NonQmMortgage.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nysck.com\/NonQmMortgage.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nysck.com\/NonQmMortgage.com\/wp-json\/wp\/v2\/comments?post=4346"}],"version-history":[{"count":12,"href":"https:\/\/nysck.com\/NonQmMortgage.com\/wp-json\/wp\/v2\/posts\/4346\/revisions"}],"predecessor-version":[{"id":4452,"href":"https:\/\/nysck.com\/NonQmMortgage.com\/wp-json\/wp\/v2\/posts\/4346\/revisions\/4452"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nysck.com\/NonQmMortgage.com\/wp-json\/wp\/v2\/media\/4348"}],"wp:attachment":[{"href":"https:\/\/nysck.com\/NonQmMortgage.com\/wp-json\/wp\/v2\/media?parent=4346"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nysck.com\/NonQmMortgage.com\/wp-json\/wp\/v2\/categories?post=4346"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nysck.com\/NonQmMortgage.com\/wp-json\/wp\/v2\/tags?post=4346"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}