Asset Utilization
Owner-Occupied
If you have an ample amount of cash reserves, employment verification isn’t a requirement. Our process takes a holistic look at your total assets to determine if you’re qualified. Borrowers who love this program include: retirees, day traders, serial entrepreneurs, and those with trust funds.
The information on this page is provided for the benefit of Mortgage Professionals and not intended for Consumers or the general public.
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 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.
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.
Asset verification
- 1 month bank statement (covering at least 30 days) for each asset used to qualify income
- 100% gift funds allowed for down payment and closing costs
- Cash-out proceeds may be used towards reserves only (cannot be applied to income calculation)3
Borrower qualification
- Minimum 660 FICO score (Minimum 660 for FTHBs)
- Up to 50% DTI1
Program highlights
- Purchase & rate/term refinance up to 80% LTV
- Cash-out refinance up to 80% LTV, Up to $1,500,000 cash-in-hand proceeds
- 1-4 units, condos, coops, PUDs
- Loan amounts up to $3,000,000
- Minimum 660 FICO score (Minimum 660 for FTHBs)
- 5/6m ARM2, 7/6m ARM2, 15 or 30 year fixed
- Interest only option available on all loan terms except 15 year fixed
- First-time homebuyers eligible, no LTV restriction
Not an approved broker? Sign up now
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.
May 29, 2025
1 Debt-to-Income
2 Adjustable-rate mortgage
3 Cash-out proceeds may be used and applied towards Reserves for loans with LTV of 70% or less and FICO of 720 or greater.