Florida Asset Utilization Loans for Primary & Vacation Homes

Florida is a dream destination for retirees, attracting buyers from the Northeast and Midwest with its year-round sunshine, tax advantages, and vibrant lifestyle. Many of these retirees are financially prepared to invest in a new home or vacation property, often bringing with them significant liquid assets. The average retiree moving to Florida may have from $500,000 to $5 million in retirement accounts, brokerage portfolios, or other assets along with additional income streams such as pensions or Social Security.

This financial foundation makes it possible for them to explore unique mortgage options like Asset Utilization Loans which help them qualify for a mortgage based on their total assets rather than monthly income. Whether buying a home in a bustling area like Miami or a serene coastal town like Naples, Florida’s real estate options cater to those looking for comfort and a lasting lifestyle investment.

asset based loan Florida lender

Features of Asset Utilization Loans

This home loan offers another path for Florida's borrowers to buy or refinance a mortgage:

How Asset Utilization Mortgage Loans Work in Florida

With an Asset Utilization Loan, your qualifying assets such as stocks, bonds, or retirement funds are used to demonstrate financial stability and repayment. Lenders calculate a "qualifying income" from your assets, based on a percentage of your total investment portfolio, enabling you to secure a mortgage without relying on traditional income documentation.

The Road to Loan Approval

The income verification process for Florida asset based loans will usually involve:
– 1. Review of the last 3 months of avings and investment account statements
– 2. Calculation of average monthly income based on qualifying assets
– 3. We have three methods to calculate a monthly income using your qualified assets total
– 4. Determination of the borrower's debt-to-income ratio using the final numbers


Fort Lauderdale Home with boat ramp

Who Would Benefit From This Loan?

This loan is designed for individuals with substantial assets who may not have traditional income sources. Ideal candidates include:

  • –  Self-employed individuals
  • –  Retirees with sizeable investment portfolios
  • –  Investors with a considerable amount of liquid assets

What accounts qualify for this loan?

This loan is designed for individuals with substantial assets who may not have traditional income sources. The following account types eligible are:

  • –  Stocks, bonds, and mutual funds
  • –  Retirement accounts (401(k), IRA, etc.)
  • –  Certificates of deposit (CDs)
  • –  Trust accounts

Asset Based Loan Requirements

To help you understand whether you qualify, here are the basic requirements and factors analyzed by myself and non-QM lenders.

Liquid Assets

  • – 3 months of account statements
  • – 100% of personal bank accts balance
  • – 70% of investment brokerage accts.
  • – 100% allowed if > age 59 ½

Credit & Debt Ratios

  • – Credit scores: 660 and up
  • – 760+ FICO scores LTV up to 90
  • – DTI: up to 50
  • – 90 LTV to $2 mil (760+ credit)

Eligible Property & Usage

  • – Homes, condo, townhome or duplex
  • – Primary home or vacation home

Your loan request may not be approved if you have:

  1. Insufficient amount of qualifying assets
  2. Mortgage or rent payments in the last 2 years were more than 30-days past due.

Average Investment Account Values by Age Group

Investment accounts often grow with age, providing substantial assets for borrowers in different life stages:

Generation Age Group Average Investment Value
Millenials 30s $100,000 - $250,000
Gen-X 40-50s $300,000 - $700,000
Baby Boomers 60s-70s $500,000 - $1.5 million

Popular areas for wealthy homebuyers in Florida

High-net-worth individuals frequently buy homes in Florida’s most desirable neighborhoods, including:

 

Florida Success Stories with Asset-Based Mortgage Loans

Scenario 1: A 65-year-old retiree from Coral Gables wanted a luxury vacation home in Naples but lacked traditional income. With an Asset Utilization Loan based on a $1 million portfolio, they qualified for the property and now enjoy a coastal retreat.

Scenario 2: An Orlando tech entrepreneur with variable income and a substantial stock portfolio used an Asset Utilization Loan to purchase a primary home in Winter Park. The lender calculated their qualifying income based on their assets, ensuring loan approval without income verification challenges.

We have multiple no tax return lending options available subject to underwriting approval.
Additional loan choices include No Ratio Mortgage, Conventional Mortgage, and Luxury Home Bridge Loan.

What borrower's tend to ask. Check these answers


Disclosure: Minimum loan amount is $200,000 for residential loans. Loan programs are subject to change per lender at any time until the loan is approved and the rate is locked. Borrowers must be approved by underwriting. Not all applicants will qualify.