Asset Depletion Mortgage Loan Programs
Asset Depletion is based on liquid assets, REO (real estate owned) equity. These asset accounts can be utilized either as a stand-alone source of qualifying "income" or in conjunction with other flexible income documentation programs such as a Lite Doc or Reduced Doc program or an Alt Doc bank statement program which can allow the use of your bank statements (cash-flow) to illustrate what's called an "Ability-to-Repay". The ability-to-repay rule applies to all Non-QM (non-qualified mortgage) mortgage programs. 4506T form not required.