Asset Depletion Mortgages

Do you have high liquid assets but still can’t qualify for a traditional mortgage?

It’s a common problem for people with high net worth, but low taxable income. That’s because the Dodd-Frank Act requires borrowers at traditional banks to show high taxable income to prove their ability to repay.Truss Financial Group works with alternative banks and funds that can write you a mortgage where you qualify based only on your assets. It’s called an Asset Dissipation or Asset Depletion Mortgage.

Despite how it sounds, your assets won’t be depleted.

You won’t be asked to leverage your assets or move them to a different account.

We won’t even ask to see your tax returns. We’ll simply add up the balances for all your liquid accounts like Checking and Savings Accounts, Brokerage Accounts, and IRAs. Based on your age and the amount held in retirement accounts, we can quickly determine if you qualify.

Truss is a top Asset Depletion mortgage lender. To find out what rate and loan amount you qualify for, talk to Truss.

TrussFinancial:
Proudly recognized as a Best Mortgage Lender for the self-employed

We offer a wide array of home loans for the self-employed, real estate investors and retirees. Alternative mortgage loans including Stated Income loans (a/k/a NonQualified loans), Bank Statement loans, Asset Depletion loans, Reverse Mortgages and more. And if you’re financing rental properties, we offer Debt Service Coverage Ratio and No-Ratio loans.

Asset Depletion Mortgages

High liquid assets? Low reported income? You’ll have trouble qualifying for a traditional mortgage because of Dodd-Frank Act banking rules. But Truss Financial offers Asset Dissipation Mortgages or Asset Depletion Mortgages where you qualify based only on your assets. The balances for all your liquid accounts and your current age will determine the loan amount for which you qualify.

Stated Income Mortgages

As a self-employed small business owner, real estate investor, or entrepreneur, you legally maximize your tax deductions each year. So your tax returns don’t tell your real financial story and ability to repay a mortgage loan. As self-employed real estate investors ourselves, we understand. That’s why Truss offers Stated Income Mortgages and alternative ways to verify your ability to repay.

Bank Statement Mortgages

If your business shows consistent income, a Bank Statement Mortgage can help you qualify for a mortgage despite taking many write-offs. We use anywhere from 3-24 months of your business or personal bank statement deposit history, then divide it in half to compensate for your expenses. We use the resulting number to document your monthly income and help you qualify for a low-rate mortgage loan.

How Does an Asset Depletion Loan Work?

Here’s an example:
Mrs. Smith is 72 years old and wants a 15-year mortgage. She has 2 million dollars in total assets, most of it in an IRA. Because she is over 59.5 years old, she has full access to her IRA funds, so the full amount can be used in her calculations. Truss divides 2 million dollars by 180 months (15 years), which results in the average monthly income figure of $11,111 used on her loan application. This gives her the borrowing and buying power needed to make the most of her golden years.

The Key to a Stated Income Mortgage: The Right Financial Story

At a traditional bank, the income shown on your W2 or 1040 tax return is unlikely to get you the loan you want. Truss understands this, and we work with you to show a more accurate financial picture using other financial statements and documents you already have. Truss makes stated income mortgages at low interest rates a reality for self-employed and real estate investors.

Do You Expense Your Personal Life Through The Business?

Deducting expenses through your business is smart. It’s a common entrepreneurial practice that makes it nearly impossible to qualify for most mortgages. But not with a Bank Statement mortgage from Truss.
We use either your business or personal bank statement deposit history, and divide it in half to compensate for expenses. This yields a monthly income figure that qualifies you for a no-income-verification loan at a surprisingly low rate. A Profit/Loss Statement from your CPA may help you qualify for even more.

Built by entrepreneurs for entrepreneurs™

Jeff Miller and Jason Nichols created Truss Financial Group to help clients avoid the disappointments they themselves had experienced as self-employed real estate investors. After the financial crisis of 2008, and in the wake of greater government regulation of traditional banks, Jeff and Jason got tired of applying for mainstream mortgages, getting denied, and resorting to hard money loans at high rates.

They solved their own problem by bringing together a group of non-traditional banks and financial funds specifically to support the self-employed and real estate investors. Now with decades of experience and an expert mortgage lending team, you won’t find advisors with a greater ability to help you qualify for the loan you need at the lowest possible rate.

First-Time Homebuyers' Delight

Suzie and the Truss Financial Group exceeded our expectations in securing our mortgage as first-time homebuyers. Suzie's expertise and guidance made the potentially daunting process incredibly smooth and manageable.

Robert F.

San Tan Valley, AZ, Software Engineer

Great for Bank Statement Loans

I did a bank statement income loan and it chose to not include some deposits. This is just a heads up, not a complaint. Truss is definitely a good company, and I would ABSOLUTELY work with them again. Marcus was honest and helpful throughout the process.

Berj F.

Concord, CA, Business Owner

Personalized Service

"I am more than pleased to work with Delania Tak and would confidently recommend her to anyone seeking reliable assistance in securing a loan. Her commitment to excellence and personalized care make her an exceptional choice."

Howard L.

CA, Real Estate Investor

Cash-Out Refinance Made Easy

Thank you so much to Guillermo Correa and Truss Financial. They made doing my cash-out refinance a piece of cake! The interest rate was much lower than other lenders I checked with. The fees were reasonable, and the timeline was very smooth.

RealEstateLady 1.

Sandy, OR, Real Estate Broker

Exceptional for Self-Employed

After months of struggling with other lenders, Paul at Truss Financial made it easy to complete a cash-out refinance of a new primary residence. As a small business owner and real estate investor, my income situation is complicated but Paul was able to guide me through the process with relative ease.

Baird K.

New York, NY, Small Business Owner and Real Estate Investor

Innovative Solutions for Self-Employed

Garrett Jimenez was super creative and helpful every step of the way. Being self-employed makes getting a loan difficult. But he found ways to overcome each and every hurdle and really hit a home run for us.

Jason M.

Rancho Cucamonga, CA, Self-Employed Individual

Asset Dissipation Mortgages