Features
- Loans up to $3 million
- Purchase or refinance1
- Primary residence only
- No employment, no income, no DTI
- Rates are 30-year fixed
- Interest only program available
- 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.
About Asset Qualifier Loans
Asset Qualifier Loans are for borrowers to qualify for mortgage loans using their liquid assets. Borrowers are not required to have employment, income or debt-to-income in order to justify their ability to repay their mortgage loan. Borrowers can qualify based on their seasoned liquid assets, such as IRAs, 401k, annuities or lump sum distributions. This type of loan may be good for retirees, self-employed, divorcees, and other borrowers with seasoned assets to purchase or refinance. Borrowers are required to have at least $500,000 in post-closing assets, and six months reserves.
Other programs you might be interested in
Farm Bureau Mortgage specializes in helping our customers get the best home loans to fit their unique goals and needs, especially when traditional products won’t cut it. Self-employed borrowers, real-estate investors, retirees, or individuals with unique financial circumstances may also be interested in our Bank Statement loans, 1099 Income loan, Profit & Loss loan, or DSCR loan.
Not all products are offered in all states, and all loans are subject to eligibility restrictions and limitations, including requirements related to loan and applicant's credit, income, property, and a minimum loan amount.
1 By refinancing the existing loan, the total finance charges may be higher over the life of the loan.