NET WORTH PROGRAM
Mortgage Solutions for Individuals with Strong Liquid Assets and Credit, But Don't Qualify on Income Alone
We meet a lot of clients who have built up wealth and assets to the point that they no longer need employment income, or cannot demonstrate enough income for the required loan amount. Unfortunately, many banks and lenders still require income to qualify the loan, regardless of net worth. We've got the solution!
The Net Worth Program offers $1 of mortgage funds for every $1 in eligible assets (click below for a list) that you own. This is in addition to what you would normally qualify for based on income alone! Keep reading for an example and applicant criteria.
- Minimum liquid eligible assets (scroll down for a list) of $250K
- Strong Credit
- Canadian Residents, claiming income taxes in Canada
Let's Break it Down with an Example
You would like to purchase for $1.25M in Metro Vancouver.
You have $250K for down payment, so require $1.0M to complete the purchase
Your income only qualifies you for a $700K mortgage, so you are short $300K... What now?
The Net Worth Program will increase the mortgage by $300K so long as you can demonstrate you own $300K in eligible assets!
NOTE: Down payment funds cannot be counted as eligible assets. Click below to view eligible assets.
You have $250K for down payment, so require $1.0M to complete the purchase
Your income only qualifies you for a $700K mortgage, so you are short $300K... What now?
The Net Worth Program will increase the mortgage by $300K so long as you can demonstrate you own $300K in eligible assets!
NOTE: Down payment funds cannot be counted as eligible assets. Click below to view eligible assets.
NOTE: The assets you use for qualifying DO NOT need to be sold, and are NOT encumbered in any way by the mortgage. They are simply used to demonstrate your Net Worth on paper.
NET WORTH LENDING FAQ'S
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
LENDERS & BANKS THAT WE NEGOTIATE WITH ON YOUR BEHALF
Previous
Next
