{"id":99,"date":"2016-08-31T14:56:03","date_gmt":"2016-08-31T14:56:03","guid":{"rendered":"http:\/\/www.loanshoppers.net\/blog\/?p=99"},"modified":"2020-03-01T21:21:34","modified_gmt":"2020-03-01T21:21:34","slug":"loans-cash-rich-borrowers-low-monthly-income","status":"publish","type":"post","link":"https:\/\/www.loanshoppers.net\/blog\/loans-cash-rich-borrowers-low-monthly-income\/","title":{"rendered":"Loans for Cash Rich Borrowers with Low Monthly Income"},"content":{"rendered":"<div class=\"79adbeefd79cda5f8232b2625609aaff\" data-index=\"1\" style=\"float: right; margin:7px 0 7px 7px;\">\n<script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<!-- Loanshoppers - blog post -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:inline-block;width:300px;height:250px\"\r\n     data-ad-client=\"ca-pub-0086590260230556\"\r\n     data-ad-slot=\"3710447994\"><\/ins>\r\n<script>\r\n(adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\n<\/div>\n<p>In 2016 a new loan program came out whereby the borrower does NOT have to be employed. In fact, there is no employment or income information on the application. This is almost a true &#8220;No Doc&#8221; loan and ideal for borrowers who have substantial liquid assets in a financial institution.<\/p>\n<h2>Asset Amortization Loan<\/h2>\n<p>This loan is available for a Purchase or cash-out Refinance.<br \/>\nThe property can owner-occupied or an investment property in the U.S.<\/p>\n<p>If a borrower has enough eligible liquid assets in their own name to cover the loan balance there is NO MONTHLY INCOME REQUIREMENT!<\/p>\n<p><a href=\"http:\/\/www.loanshoppers.net\/blog\/wp-content\/uploads\/2016\/08\/1-mil-acct-balance.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-101\" src=\"http:\/\/www.loanshoppers.net\/blog\/wp-content\/uploads\/2016\/08\/1-mil-acct-balance-300x257.jpg\" alt=\"over one million dollar bank receipt\" width=\"300\" height=\"257\" srcset=\"https:\/\/www.loanshoppers.net\/blog\/wp-content\/uploads\/2016\/08\/1-mil-acct-balance-300x257.jpg 300w, https:\/\/www.loanshoppers.net\/blog\/wp-content\/uploads\/2016\/08\/1-mil-acct-balance.jpg 400w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><br \/>\nOR the borrower can qualify by using 100% of their liquid assets to cover 7 years or 84 Months of Principal, interest, taxes and insurance &amp; their current monthly liabilities. Another program only requires 5 years.<\/p>\n<p>What You Will Need to Show is (2) Monthly Statement of the Qualifying Account<br \/>\n\u2022 75% maximum loan to value<br \/>\n\u2022 600 minimum FICO credit score, 720+ FICO scores for best rates<br \/>\n\u2022 25% minimum down payment on a purchase or 30% equity for a refinance<br \/>\n\u2022 Assets should be in a U.S. financial institution; checking, savings, CD, money market, stocks, bonds, mutual funds, or IRA account that are not in distribution.<\/p>\n<p>The loan program has the following highlights:<br \/>\n\u2022 5, 7, 10 years Fixed ARMs and 30 year fixed-rate options<br \/>\n\u2022 No 4506-T signature or tax forms necessary<\/p>\n<p>* Note; Not all applicants will qualify and must be approved by underwriting. Loans through this program will available only for properties in California, Colorado, Texas, Washington, and Florida.<\/p>\n<p>This is yet another low doc loan that mortgage companies offer on LoanShoppers. Apply today without your SSN or sensitive information to see if you qualify. You will be speaking with a licensed mortgage originator.<\/p>\n<!--CusAds0-->\n<div style=\"font-size: 0px; height: 0px; line-height: 0px; margin: 0; padding: 0; clear: both;\"><\/div>","protected":false},"excerpt":{"rendered":"<p>In 2016 a new loan program came out whereby the borrower does NOT have to be employed. In fact, there is no employment or income [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":102,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","footnotes":""},"categories":[30,31,27],"tags":[],"class_list":["post-99","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asset-amortization","category-no-doc","category-non-qm"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Loans for Cash Rich Borrowers with Low Monthly Income -<\/title>\n<meta name=\"description\" content=\"Get a mortgage loan using your liquid asset statements with $500,000 or more to count as income. No job verification necessary.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.loanshoppers.net\/blog\/loans-cash-rich-borrowers-low-monthly-income\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Loans for Cash Rich Borrowers with Low Monthly Income -\" \/>\n<meta property=\"og:description\" content=\"Get a mortgage loan using your liquid asset statements with $500,000 or more to count as income. 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