Prompt Mortgage Company

Asset Depletion

Asset depletion allows you to take a loan using your existing assets rather than your income. For asset depletion, you do not need to show any other source of income if your assets are sufficient to pay for the loan; it does not mean you will have to cash in your asset right away. Your assets only used to demonstrate your ability to pay your loan amount. We calculate your monthly income by dividing your liquid asset to the duration of your loan. This will give us guarantee that you will be able cover your loan amount.
Once your total assets are calculated, the divided balance is split into your monthly installment. We do not only look at your assets when qualifying you for asset depletion but also make sure if you meet our lending requirement. Loan programs are not regulated by government so we need to make sure you meet all the criteria for asset depletion.

Key Features

Asset Depletion
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