Asset Utilization Loans
Franklin Mortgage Holdings offers a unique asset qualifier loan product designed specifically for borrowers with substantial liquid assets. This type of loan allows individuals to qualify based on their assets without the need for employment, income, or debt-to-income (DTI) ratios. It provides a valuable solution for retirees, self-employed individuals, and others who may not meet traditional lending criteria.
To qualify for an asset qualifier loan with Franklin Mortgage, borrowers must meet specific criteria. All assets must be sourced and seasoned for a minimum of six months. The required assets include the loan amount, recurring monthly debt multiplied by 60 months, funds to close, and six months of reserves.
The asset qualifier loan is available for primary residences only, with loan amounts ranging from $250,000 to $3 million. It offers various features, including a 30-year fixed rate and an interest-only program. Furthermore, the loan can be used for both purchases and cash-out or rate-term refinances.
Why Choose Franklin Mortgage?
With a straightforward and easy-to-close process, this loan product provides a practical solution for meeting home loan needs. Whether you are looking to purchase a new home or refinance an existing one, Franklin Mortgage Holdings’s asset qualifier loan offers the flexibility and support you need.
Asset Utilization Loans: All You Need to Know
Asset utilization loans are specialized loans are designed to help borrowers meet non-conforming mortgage lending criteria, whether they’re in need of a commercial bridge loan or a customized mortgage loan. Our flexible approach to financing is built to meet your unique needs.
What Are Asset Utilization Loans?
Asset utilization loans are a type of mortgage loan that allows borrowers to leverage their assets as collateral to secure financing. This type of loan is an ideal solution for individuals looking to finance non-conventional properties or who have discrepancies in their financial profile, such as self-employed individuals.
How Do Asset Utilization Loans Work?
With asset utilization loans, borrowers provide their assets as collateral to the lender, significantly reducing the risk for loan providers. For instance, borrowers may leverage their investment portfolio, retirement accounts, or other assets to secure the loan. These assets will be held in escrow by the lender until the loan is paid in full, at which point they are released back to the borrower.
Benefits of Asset Utilization Loans
Asset utilization loans are a great option for individuals who don’t meet traditional bank lending criteria. Some of the benefits of asset utilization loans include:
More Flexibility: Asset utilization loans offer more flexibility than traditional loans, making them an ideal option for individuals looking to purchase non-conventional properties.
Streamlined Application and Approval Process: Asset utilization loans come with a faster application and approval process, allowing borrowers to secure financing quickly.
Customizable Loan Terms: Asset utilization loans are tailored to each borrower’s individual needs, providing customized loan terms that work best for them.
Why Choose Franklin Mortgage Holdings for Asset Utilization Loans?
Franklin Mortgage Holdings is a trusted non-conforming mortgage loan broker and commercial bridge lender with a proven track record of providing customized loans tailored to individual borrower needs. Here are some reasons why borrowers choose us:
Personalized Service: We take the time to understand each borrower’s unique financial profile and work closely with them to provide the best loan structure.
Competitive Rates: We offer competitive rates for asset utilization loans, making financing more affordable for borrowers.
Expertise: Our team of experts are highly experienced in asset utilization loans, ensuring a hassle-free financing process from start to finish.
Looking to finance your dream property with an asset utilization loan? Contact Franklin Mortgage Holdings today to learn more about our customizable loan options and personalized service.