Clients interested in purchasing a home had good down payment, excellent credit scores, and great jobs. Unfortunately, this was not enough to qualify.
Why?
The unexpected solution was for a significant amount of money in their 401K retirement plan to be counted as well. We found a Lender that allowed use of up to 70% of their assets to be distributed over 30 years.
We got the loan approved after this amount was added to the total employment income!
To see another Asset Depletion Loan scenario we solved: click here.
Cheers,
