Asset Advantage Mortgages

LOAN OPTIONS

Asset Advantage Mortgages

Aerial view of a neighborhood
Aerial view of a neighborhood

LOAN OPTIONS

Asset Advantage Mortgages

United Bank's Asset Advantage Mortgages

Qualifying for a Mortgage with Assets

United Bank now offers loan products that allows you to use financial assets in place of, or in addition to, your income or employment to qualify for a home purchase or no-cash out refinance. You do not have to cash out your assets. The assets are used to demonstrate an ability to make the mortgage payments.1

Consider this if you are:

  • Self-employed but show minimal income
  • Retired (or almost retired)
  • Relatively minimal income, or none at all
  • No verifiable employment
     

Eligible assets for qualifying:

  • Checking or savings accounts
  • Money market accounts
  • Certificates of Deposit (CD)
  • Investment accounts such as stocks, bonds, and mutual funds
  • Retirement accounts such as a 401k or IRA*

Consider this if you are:

  • Self-employed but show minimal income
  • Retired (or almost retired)
  • Relatively minimal income, or none at all
  • No verifiable employment

Eligible assets for qualifying:

  • Checking or savings accounts
  • Money market accounts
  • Certificates of Deposit (CD)
  • Investment accounts such as stocks, bonds, and mutual funds
  • Retirement accounts such as a 401k or IRA*

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*70% of retirement assets are permissible, divided by 240 months. Not all retirement accounts may qualify, depending on the mortgage borrower’s age and potential penalties applied for accessing funds in the account. Current asset statements are required to verify all assets used for asset depletion. This is only applicable to United Bank portfolio programs with the exception of the Doctors and Construction-to-Permanent programs.
1. Restrictions apply on the type and amount of assets that are allowed to be considered based on program requirements. Current asset statements are required to verify all assets used for United Bank Asset Advantage.
United Bank is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age (provided you have the capacity to enter into a binding contract), because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. The federal agency that administers our compliance with these federal laws is the Federal Reserve, Federal Reserve Consumer Help, PO Box 1200, Minneapolis, MN 55480.
This is not a commitment to lend. Mortgage products and services are offered through United Bank. All loan applications are subject to credit and property approval and must meet loan program requirements to qualify. Annual Percentage Rate (APR), programs, rates, fees, closing costs, terms and conditions are subject to change without notice and may vary depending upon credit history and transaction specifics. Other closing costs may be necessary. Flood and/or property hazard insurance may be required.  Speak with a Mortgage Loan Officer for more specific information.
United Bank and its representatives do not provide tax or legal advice. You should consult your individual tax or legal professional before taking any action that may have tax or legal consequences.