Our asset based mortgage qualifies borrowers off their total assets. We use a formula to see if the total amount of assets would cover total monthly payments for a certain period of time. No job or income necessary. 

Example: Husband Joe and Susie are early retirees. Neither have any employment or income, but they have $2M in their Morgan Stanley account. They want to buy a home, but they have been getting such a high return on their money, they would rather keep that money there if they could. They reach out to Harris at Angel Oak Home Loans and provide him with recent statements of their account. It turns out they can get a mortgage just by showing how much they had in their accounts. 

Who Qualifies?

• No employment, no income, no DTI needed

• Cash out allowed!

• Credit score 700 minimum

• Loans up to $3 million (minimum $150,000)

• Maximum LTV-75%

• Borrowers must have a minimum of $500,000 post closing assets.

• Qualifying assets can be retirement, checking, savings accounts and stocks.

• All assets must be sourced and seasoned for a minimum of 12 months