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Asset Utilization

Investor

Use the capital you already have to build your investment portfolio with Quontic’s help. If you’re flush with funds, we don’t need to verify your employment history. This program is a real estate developers’ dream come true. To qualify, we take a comprehensive analysis of your total assets, so you don’t have to go through the hassle of providing your typical income documentation.
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View guidelines

The information on this page is provided for the benefit of mortgage professionals and not intended for consumers or the general public.

2 Hour Scenario Guarantee

Submit your borrower’s scenario between 9 a.m. and 4 p.m. EST
Monday – Friday and we’ll get back to you with options in two hours or less.

Submit a scenario
Submit your borrower’s scenario between 9 a.m. and 4 p.m. EST Monday-Friday and we’ll get back to you with options in two hours or less.
Submit a scenario

Program Details

Income verification

  • No statement of employment on 1003. No employment documentation or verification required.
  • Qualifying monthly income = Post-closing assets x Utilization factor (see guidelines) ÷ 60 months.
  • No tax returns or W2s required. Not a bank statement program.
  • Up to 50% DTI
  • Subject property does not need positive cash flow

Asset verification

  • 1 month bank statement (covering at least 30 days)
  • 100% gifts allowed for down payment and closing costs only
  • Cash-out proceeds may be used towards reserves

Program highlights

  • Purchase & rate/term refinance up to 80% LTV
  • Cash-out refinance up to 75% LTV, $1,500,000 cash-out funds
  • 1-4 units, condos, PUDs
  • Loan amounts up to $3,000,000
  • Minimum 660 FICO
  • 5/6 ARM1, 7/6 ARM1, 15 or 30 year fixed
  • Subject properties located in the following States are limited to ARM products ONLY: AK, DC, IL*, KS, MI, NJ*, NM, RI, PA
  • Interest only option available on all loan terms except 15 year fixed.
  • Corporations and LLCs accepted
  • First time home buyers eligible, no LTV restriction

* Fixed rate options available for IL & NJ for loans that are closed and vested in name of corp or LLC

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Disclosure:

This is intended for Mortgage Broker professionals. All lending products are subject to credit & property approval. Rates, program terms & conditions are subject to change without notice. Not all products are available in all states or for all amounts. Other restrictions & limitations apply. Quontic Bank name & logo are registered trademarks. ©️ 2024 Quontic Bank. All rights reserved.

Information is accurate as of the date listed below and may change without notice.

October 31, 2024
1 Adjustable-Rate Mortgage