Free Mortgage PrequalifIcation

FREE MORTGAGE PREQUALIFICATION

Conventional | Jumbo | Super Jumbo | VA | FHA | CalHFA | Stated Income |Foreign National | Asset Depletion | Fix and Flip | Pledge Assets | Bank Statements | Hard Money | Commercial and more..

Bank Statement Mortgage Loan

Bank Statement Mortgage Loan

Stated Income Mortgage

Are You Self-Employed?

If you’re looking to buy a home, we have good news. Utmost Pro, Inc. offers a Bank Statement Loan Program for self-employed borrowers as well as those whose employment histories and tax returns may not reflect their viability for a mortgage. 

Add all deposits for all 24 months and divide that amount by 24 .

Ex. 24 months deposits total = $200,000 / 24 = $8,333 a month income.

Asset Depletion Mortgage

Asset Depletion Mortgage

Asset Depletion Mortgage is a method for calculating monthly income by dividing a borrower’s total assets by a set number of months. The borrower is not required to cash in their assets as they’re only used to demonstrate an ability to make the mortgage and housing payments.

Borrowers who use an asset depletion mortgage program to qualify do not need to show any source of income or employment.  They can instead rely on asset depletion calculations based on a combination of cash, retirement, and investment monies divided by 360 payments.  Assets are generally qualified with 100% of cash accounts and 70% of retirement and investment accounts (100% of retirement funds may be used if the borrower is over 59 ½ years old). 

Asset Depletion Mortgage
If you are self-employed and you expense your adjusted gross income to the point you cannot qualify for a traditional loan, but have considerable assets, you can use those assets for qualifying purposes. Asset Depletion Mortgage is the solution.
  • Example – borrower is 73 years old:
    • Borrower’s income is $5,000/month /DTI is high…needs additional income to qualify
    • Borrower has $1,000,000 “liquid” assets
    • Mortgage calculation based on the borrower’s age:
      • Present Value = 1,000,000
      • Rate = 5.000%
      • Amortization = 12 years/The borrower is 73 years old
      • Result: $9,249/month additional income for qualifying purposes
        Borrower now has $5,000 income + $9,249 = $14,249 to qualify with

There’s no reason to wait. Get more info about Asset Depletion Mortgage.

JUST E-SIGN AND GO

JUST E-SIGN AND GO

There’s no reason to wait.

Use Gift Funds

Use gift funds as down payment

There’s no reason to wait.