For those few lender who do offer an asset based program, its generally for larger loan amounts. Most are usually in the Jumbo range above $417,000. I have only heard of one that will go as low as $300,000.
Rodney Mason, NMLS #151088
Sr Loan Officer
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia
Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePathÂ® | HomePathÂ® Renovation | HomeStyleÂ® Renovation | VA | USDA | GA Dream | Jumbo Financing
So, you may have to turn to private equity money (hard money) with soft rates. There are lenders who will allow you to collateralize stock funds for a mortgage loan. You have to use the company to buy it (or the trust). Fees are about 5-8%, rates between 5% to 9% interest only. Amortization up to 30 years with 5 year balloon. No pre-pay penalty. Minimum 30% down (conventional is 20% to 25%). No income check, personal credit check offers better rate, however non-recourse loans won't report against your social security number. To get started, we'll need to get you application started. There is an up front fee which is refunded at closing. We'll also teach you other ways to buy property (different programs).