Credit scores starting at 700
Up to 75% LTV
Angel Oak’s Asset Qualifier loan product is for borrower’s to qualify using their liquid assets. We do not require employment, income or DTI to justify ability-to-repay. We qualify based on required assets that meet seasoning requirements. We have helped retirees, underserved self-employed, divorced with no income, and other borrowers with required seasoned assets to purchase or refinance. This easy to close loan is another solution helping borrowers with their home loan needs who could not under Agency guidelines.
- Loans up to $3 million, Minimum loan of $250,000
- No employment, no income, no DTI
- Rates are 30-year fixed
- Five years seasoning foreclosure, short sale or bankruptcy
- Primary residence only
- Purchase and cash-out or rate-term refinance
- Interest only program available
- Non-warrantable condos allowed
- All assets must be sourced and seasoned for a minimum of six months
- Required assets: Loan amount, recurring monthly debt multiplied by 60 months, funds to close and six months reserves
- Borrowers must have at least $500,000 in post-closing assets.
- Loan amounts greater than or equal to $1,500,000, a borrower paid second appraisal must be obtained