HOW TO BUY REAL ESTATE
WITHOUT REPORTED INCOME?
I recently helped a client secure a $1.5М cash-out loan based solely on his $6М investment account. This was made possible through an “asset depletion program.” Several lenders offer this program, which typically calculates qualifying income by dividing total assets by 60. However, one lender used a 36-month divisor, which significantly increases the calculated monthly income and makes it easier to qualify.
We discussed this program during our recent video presentation with Robin Kozelka from Acra Lending. She also introduced another option I wasn’t previously aware of: a mortgage based on remaining invested assets.
For example, if you have $1.5М in investments and are purchasing a property for the same amount, you could put down $500К. As long as you retain $1М in investments, the lender may offer a $1М mortgage—without requiring traditional income documentation to qualify.
Need assistance? Don’t hesitate to contact me – call (415) 225-7920, or email at [email protected]
Manny Kagan,
President,
Pacific Bay Financial Corporation
Your professional mortgage broker since 1983
NMLS #205637
DRE #00874630