Asset Depletion / Utilization
High-net-worth liquidity qualification amortizing verified liquid assets over 60-84 months to establish qualifying income without traditional employment or tax returns.
Underwriting Specifications & Parameters
Program Highlights & Selling Points
- Checking, Savings, Stocks, Bonds, & Retirement (401k/IRA) Eligible
- Zero Employment or Business Ownership Verification
- Can Be Combined with Other Income Streams
- Flexible Amortization Schedules
Program Overview & Guidelines
Liquidity-Based Underwriting for High-Net-Worth Borrowers
The Corva Asset Depletion / Asset Utilization program is designed for affluent borrowers, retirees, tech entrepreneurs, and private equity investors who maintain substantial liquid net worth but choose not to draw traditional W-2 salary or report taxable business income. Qualifying monthly income is calculated by amortizing verified liquid assets over a defined amortization schedule.
Program Parameters & Thresholds
- Maximum LTV: Up to 80% LTV for purchases; 75% for cash-out refinances.
- Minimum FICO: 680 credit score.
- Loan Amounts: $250,000 to $3,500,000.
- Amortization Period: Eligible assets are amortized over 60 or 84 months (depending on borrower age and asset classification) to calculate qualifying monthly income.
Eligible Asset Classes & Valuation Discounts
- Cash & Cash Equivalents: Checking, savings, certificates of deposit (CDs), and money market accounts evaluated at 100% of verified face value.
- Marketable Equities & Bonds: Publicly traded stocks, mutual funds, exchange-traded funds (ETFs), and corporate bonds evaluated at 80% of verified market value.
- Vested Retirement Assets: 401(k), IRA, SEP-IRA, and Keogh accounts evaluated at 70% of value if borrower is age 59½ or older (60% if under 59½).
Calculation Methodology
Net Qualifying Assets = Total Eligible Assets minus required down payment, closing costs, and 6 months PITIA reserve requirements. The resulting net sum is divided by 60 or 84 to yield monthly qualifying income.
Submit Asset Depletion / Utilization Scenario
Direct credit desk review by dedicated wholesale underwriters. Submit transaction parameters below for immediate pricing, structuring, and written terms.