CDL PROGRAM

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.
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This information is provided for the benefit of Mortgage Professionals and not intended for Consumers or the general public.

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

Asset Verification

  • 1 Month bank statement (covering at least 30 days) for each asset used to qualify income
  • 100% Gifts allowed for down payment, closing costs, reserves1 (cannot be applied to income calculation)
  • Cash-out proceeds may be used towards reserves only (cannot be applied to income calculation)

Other Program Highlights

  • Purchase & rate/term refinance up to 80% LTV 
  • Cash-out refinance up to 70% LTV, unlimited cash-out funds 
  • 1-4 Units, condos, coops, PUDs
  • Loan Amounts up to $3,000,000
  • Minimum 660 FICO 
  • 5/6m ARM3, 7/6m ARM3, 15 or 30 year fixed
  • Interest only option available on all loan terms except 15 year fixed
  • First-time homebuyers eligible, no LTV restriction
Download Program Flyer

Call Us Today
1-888-738-9016

Call us today to learn how our full line of products can change your pipeline forever. Have questions? Simply fill out this form and one of our experienced Account Executives will reach out to you soon.

Call us today to learn how our full line of products can change your pipeline forever. Have questions? Simply fill out this form and one of our experienced Account Executives will reach out to you soon.

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. © 2020 Quontic Bank. All rights reserved.

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

March 2, 2022

1 Reserve Requirements Subject to Loan Amount and Number of Financed Investment Properties.

2 Adjustable-rate mortgage