Not every qualified buyer receives a traditional paycheck. Retirees, investors, and clients living off their assets often have substantial wealth but limited reportable income. An Asset Depletion Loan allows eligible assets to be used to create qualifying monthly income, helping asset-rich borrowers purchase or refinance a home.

South Florida is home to many entrepreneurs, business owners, and self-employed professionals. Unfortunately, some believe they can't qualify for a mortgage because their tax returns don't reflect their true income. Bank Statement Loans offer an alternative by allowing qualifying income to be calculated using personal or business bank statements instead of tax returns.

The asset involved in this transaction is a 2,692 sq ft condo located at 20 Northeast 11th St Miami. The purchase price for this property is $4,175,000, and the loan amount secured for this acquisition is $2,505,000 with a loan term of 30 years. Summary of transaction details: Property Type: Condo Transaction Amount: $4,175,000 Loan Amount: $2,505,000 Loan Type: Acquisition Loan Terms: 30 Lender: Neev Pettel - Cornerstone First Mortgage This transaction involves Jason Sims re