Asset based lending Clearwater Florida
When a prospective borrower exits the workplace prior to retirement age for purposes of receiving 401k income, asset based lending can be structured to accomplish what was formerly known as stated income lending. Asset based lending clearwater florida
In the past, stated income was a means where by the borrower would simply state what they made. Over time the basis for this allowance changed. Initially asset tests were used to validate stated income requiring 2 or 3 times stated income in savings.
Now we have to utilize a different means for accomplishing loan approval and it varies based on circumstances such as asset mix between retirement and non-retirement assets, age, types of depositories and aging on distributions and recurrence. Asset based lending clearwater florida
We can help structure solutions to accomplish approval of your loan for purchase or refinance.
Asset based lending clearwater florida