Many high net worth individuals have extremely complicated tax returns. When it's important to move quickly in order to not lose a purchase opportunity, the Asset Qualifying Mortgage is the answer.
A Simple and Straightforward Mortgage Product
Designed specifically for the high net worth individual, income is determined by the amount of liquid, or nearly liquid (such as stocks and bonds, etc) that a borrower has in his accounts after the down payment and closing costs.
There must be adequate funds to cover 60 months (5 years) of PITI (Principal, Interest, Taxes and Insurance).
If you use your tax returns to qualify for your mortgage but you are short of the required income, you can utilize your liquid assets to make up the shortfall in reported income.