High Net Worth Individuals
Let’s be honest, we all strive to have some sort of wealth that provides a level of financial security in today’s world. Whether it’s to buy luxurious things or to setup future generations for success (our personal favorite), having substantial wealth does not necessarily mean access to liquid cash. Many high net worth individuals have their wealth tied up in Assets and that becomes problematic from a lending perspective because banks want liquid wealth in case of the requirement for the loan to become due. Luckily, we specialize in offering asset-based lending programs in something called Asset Depletion. The requirement for this is quite simple in that the following combination of assets can be used as “income” when average over a certain time period:
- Retirement Accounts (401k/IRA)
- Checking/Savings/Money Market
- Stocks/Bonds/Mutual Funds
By combining multiple asset accounts together and averaging over a designated amount of time, this summation can be the sole income source used to qualify for loans to buy a house, refinance, or even cash out on equity.
Do you or someone you know fit this criteria? Use our simple prequal tool to find what programs we have available.
