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Understanding Florida Asset-Based Mortgages And How They Work

Updated: 5 days ago

Understanding Florida Asset-Based Mortgages And How They Work

Mortgages based on assets are becoming more popular. They are for people with high-value assets but irregular incomes. These loans allow individuals to use their existing assets, like savings or investments, to qualify for a mortgage.

This option may be suitable for retirees, business owners, and individuals with high net worth who may not receive a regular paycheck. Traditional mortgages rely on regular income verification. In contrast, asset-based mortgages focus on the borrower's existing assets.

This flexibility makes asset-based lending accessible to many borrowers. They face challenges with conventional loan requirements. Want to learn how they work? Keep reading!

Key Takeaways

Asset-based mortgages help people with high-value assets but irregular incomes qualify for loans. They use their assets as income instead of verifying income in the traditional way.

Borrowers can use cash and other assets like savings accounts, retirement funds, and home equity to gain approval.

Bennett Capital Partners offers personalized asset-based mortgage solutions with competitive interest rates

Two main methods are used for the calculations. They divide total assets by either 60 or 84 months to find qualifying income. This helps those without traditional proof of income.

Asset-based mortgages cover many property types. These types include single-family homes, condos, townhouses, and investment properties. They even cover financing for commercial real estate.

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What is an Asset-Based Mortgage?

What is an Asset-Based Mortgage?

An asset-based mortgage lets you qualify using your assets. You do not need traditional income documents, such as Paystubs, W2's and Tax Returns. This type of loan is great for those with significant savings, but limited regular income.

Loans are based on verified liquid assets like money market accounts or retirement accounts.

You don’t need to show a steady paycheck to get this loan. Instead, lenders look at your total assets and use them as collateral. This helps self-employed people and retirees. They have saved well but may not have predictable monthly earnings.

It’s different from hard money loans that rely heavily on real estate value alone.

Qualifying isn't about credit scores; it's about what you own—your bank statement can prove enough! The approval process focuses more on your financial reserves rather than future cash flow projections.

Eligible Liquid Asset Types for Asset-Based Mortgages

Asset-based mortgages allow you to qualify for a loan using your assets instead of traditional income. Here are some types of liquid assets that can be used to qualify for these mortgages:

These liquid assets are important. They are easy to get and can be quickly turned into cash. This makes them reliable for securing a mortgage.

Why Liquid Assets Matter

Cash is crucial for asset-based mortgages. It shows the lender that you have enough money to cover the loan. Unlike illiquid assets, such as real estate or collectibles, liquid assets can be quickly sold or accessed in case you need to make a payment.

You can use these liquid assets to qualify for a mortgage. You won't need traditional income verification. This makes it easier for retirees, business owners, or people with irregular income to get approved for a home loan.

"Bennett Capital Partners made the mortgage process simple and stress-free. Their asset-based mortgage option was perfect for my financial situation. Highly recommend!" John D. Miami. FL

📞 Give Us A Call Today 1-800-457-9057

Advantages of Asset-Based Mortgages

Advantages of Asset-Based Mortgages

Borrowers with substantial assets but irregular income can benefit greatly from asset-based mortgages. These loans allow use of assets to qualify, making them ideal for retirees and self-employed individuals.

Unlike traditional loans, there's no need to show tax returns or steady income streams—your assets do the talking! This flexibility means higher loan amounts are possible, providing more options for buying a home or refinancing.

Another advantage is accessibility for those with rocky credit histories. Lenders focus on your existing assets rather than past financial mistakes. Interest rates remain competitive despite this leniency.

Eligible properties include main homes, second homes, and investment properties. This serves both personal and business needs in real estate.

Additionally, fewer financial covenants come with asset-based lending compared to cash flow lending. Asset depletion methods let borrowers use their saved capital to qualify as income for mortgage payments.

Bennett Capital Partners Mortgages offers wholesale rates for asset-based mortgages, resulting in better loan terms. Unlike traditional loans, they do not require traditional income verification.

Eligibility and Requirements for Asset-Based Mortgages

Eligibility and Requirements for Asset-Based Mortgages

Asset-based mortgages offer a way to secure loans using your assets. Here's what you need to know to qualify.

These steps will help ensure you meet the requirements for an asset-based mortgage.

Asset-Based Mortgage Calculation Methods

Asset-Based Mortgage Calculation Methods

Bennett Capital Partners Mortgage offers two methods to calculate asset-based mortgages. The 60-month calculation method divides total assets by 60, determining monthly income from those assets.

For example, if you have $300,000 in total assets, dividing by 60 gives a qualifying monthly income of $5,000.

The second method uses an 84-month calculation. Dividing the same $300,000 by 84 results in a qualifying monthly income of about $3,571. With these methods, no tax returns are needed—only proof of your liquid and investment accounts is required.

This simplifies the process for borrowers. They may lack traditional proof of income but have significant assets.

Types of Properties Eligible for Asset-Based Mortgages

Types of Properties Eligible for Asset-Based Mortgages

Financing is available for diverse real estate options. Single-family homes, condos (both warrantable and non-warrantable condos), townhouses, and 2-4 unit properties all qualify. These loans suit various needs such as primary residences, second homes, or investment properties.

Asset-based mortgages also cover commercial real estate financing. Homebuyers and investors can refinance or buy a home using these flexible loan programs. Condo investments benefit too. This makes asset-based financing versatile. It's a good choice for different property types.

Pros and Cons of Asset-Based Mortgages

Pros and Cons of Asset-Based Mortgages

Asset-based mortgages have unique benefits and drawbacks. They affect homebuyers, real estate investors, and realtors. Here's a concise summary:

Asset-based mortgages have unique benefits and drawbacks. They affect homebuyers, real estate investors, and realtors. Here's a concise summary:

Pros of Asset-Based Mortgages

Cons of Asset-Based Mortgages

You must understand the pros and cons of asset-based mortgages. This is crucial for making an informed decision. Considering these factors can help you decide if this financing option fits your goals and assets.

Why Choose Bennett Capital Partners for Asset-Based Mortgages

Why Choose Bennett Capital Partners for Asset-Based Mortgages

Bennett Capital Partners have deep knowledge in asset-based mortgages. They offer tailored home loan solutions, fitting each client's unique financial profile.

Expertise in Asset-Based Mortgages

Bennett Capital Partners specialize in offering personalized asset-based mortgage solutions. They understand that every client's financial situation is unique. By evaluating assets as income, they tailor loan products to fit individual needs.

Their expertise ensures smooth and efficient mortgage approval processes. Bennett Capital has years of experience in financing Miami real estate. They provide expert guidance and support throughout the journey.

Clients can trust their deep knowledge. It will help them secure a beneficial loan program based on assets. The program is suitable for various property types.

Streamlined Application Process

The application process at Bennett Capital Partners is quick and easy. You can get a mortgage without the usual hassle.

  1. Pre-Qualification: Submit basic info online to check eligibility.

  2. Application: Complete the loan application form with details about your assets.

  3. Underwriting: Their team reviews and verifies all documents.

  4. Approval: Get loan approval based on a percentage of your assets.

  5. Closing: Sign final papers and pay closing costs, then receive funds.

Contact them at 800-457-9057 or 305-407-0747, or email for help with asset-based refinance or other mortgage programs.

Personalized Service

Bennett Capital Partners offers personalized solutions for asset-based mortgages. They guide clients through the entire process. This includes helping with closing costs and finding the right mortgage lender.

Clients receive expert advice tailored to their unique needs. First-time homebuyers get extra support. Seasoned real estate agents benefit from specialized services. Contact Bennett Capital Partners for advice and more details. They can help you secure an asset-based mortgage loan.

"As a retiree with substantial savings but no regular income, I thought getting a mortgage was impossible. Bennett Capital Partners proved me wrong with their asset-based mortgage solution!" Sarah L. Naples FL

📞 Give Us A Call Today 1-800-457-9057

Asset-Based Mortgages Case Studies

Asset-Based Mortgages Case Studies

At Bennett Capital Partners, we've excelled at finding mortgages for clients with special finances. Our asset-based mortgage programs have helped many people. They secured financing despite issues with traditional loan requirements.

Here are two examples showcasing our expertise and commitment to personalized service:

Case Study 1: Securing a New Construction Condo on Brickell Ave

Client Profile: The borrower has complex tax returns. They are looking to buy a new condo in Miami.

Challenge: The borrower was at first denied a loan. This happened after 45 days of processing due to complex tax returns.

Solution: Bennett Capital Partners used the Asset-Based Program to leverage the client’s $1.9 million IRA Rollover Account. They used these assets to qualify him for the mortgage.

Outcome: We secured a favorable interest rate, enabling the client to purchase his new primary residence in Miami.

Case Study 2: Helping a Self-Employed Borrower Relocate to Miami

Client Profile: A self-employed person moved from New York City to Miami. They started a new corporation.

Challenge: Traditional loans were not an option. This was due to the new business structure and lack of income documentation.

Solution: Bennett Capital Partners used the client's savings and stock accounts. They spread the accounts over 60 months to qualify him for an asset-based mortgage.

Outcome: The client successfully closed on his new home, becoming a Miami resident.



An asset-based mortgage lets you use your assets for a loan. You don't need to rely on your current income. This type of mortgage is ideal for those with high-value assets but low monthly income.

Contact Bennett Capital Partners for expert advice and personalized service. They streamline the application process and offer tailored solutions to meet your needs.


What is an asset-based mortgage?

An asset-based mortgage lets you use your assets as collateral for a loan.

How do I qualify for an asset-based loan?

To qualify, you'll need to show proof of your assets like home equity or fixed income.

Are there benefits to choosing this type of lending?

Yes! Asset-based loans often have lower interest rates. They also have flexible terms compared to traditional mortgages.

Can I get an asset-based loan if I don't qualify for a traditional mortgage?

Yes, many lenders offer asset-based loans as an alternative when you can't qualify for a traditional home loan.

What types of properties can be used as collateral in Florida?

Home buyers can use various real estate properties such as houses or condos to secure an asset-based loan.

Where can I find more information about these loans?

Contact Bennett Capital Partners for custom mortgage solutions. They will help you find the best asset-based lender for your deal. They can also help with the loan approval process.

What are the benefits of asset-based loans?

Asset-based loans offer benefits. They have easier qualification for people who may not qualify for traditional loans. They also have flexible terms and faster access to funds.

What is a non-QM loan in relation to asset-based financing?

A non-QM loan is a type of loan that does not meet the Qualified Mortgage standards set by the Consumer Financial Protection Bureau. It can be an option for people with unique finances. They are seeking asset-based financing.

Can I use asset depletion as a way to qualify for a mortgage?

Asset depletion is a method where assets are considered as income to help qualify for a mortgage. Some lenders may accept asset depletion as a way to demonstrate financial stability.

What are some common loan programs associated with asset-based lending?

Common loan programs include hard money loans. They also include bank statement loans, DSCR loans, and asset-based mortgage loans.

Philip Bennett

Philip Bennett

Philip is the owner and principal mortgage broker at Bennett Capital Partners, Business NMLS# 2046828. He earned his degree in Accounting and Finance from Binghamton University and holds a Master's Degree in Finance from NOVA Southeastern University. With over 20 years of experience in the mortgage industry, Philip has been a leader in his field and has personally originated over $2 billion in residential and commercial mortgages.

Learn more about Philip Bennett's background and experience on our Founder's page. Whether you're a first-time homebuyer or a seasoned real estate investor, our team is here to help you achieve your real estate goals. Don't wait any longer; contact us today and let us help you find the right mortgage for your needs.




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