Areas We Serve
At Griffin Funding, we are proud to serve individuals and families throughout all of Louisiana. We offer asset-based lending services in major areas, including:
- Bossier City
- Baton Rouge
- Lake Charles
- New Orleans
If you have questions about whether we can help you, reach out to us today to speak to our team.
How Does an Asset-Based Loan Work?
Louisiana asset-based loans are a great way to qualify for a mortgage or home loan even if you don’t necessarily have proof of employment or a substantial income. If you don’t have enough income to qualify for a traditional home loan, an asset-based loan can help you. Whether you are a retiree, a contractor, or a small business owner, asset-based loans can make it possible to qualify for financing.
With an asset-based loan, you are going to use the assets you have instead of the income you draw to qualify for a loan. By using the assets you already own, you can tap into existing equity and leverage that to help you buy a house. Some of the assets that you may want to use include your investment portfolio, retirement accounts, and bank accounts.
You are in control of the assets you tie to the loan, so if you don’t want to use some of your assets, you do not have to. In addition, you may qualify for a lower interest rate, making your home loan less expensive. Our team would be happy to help you with that.
Benefits of Asset-Based Loans in Louisiana
Asset-based loans Louisiana provide a number of benefits. Some of the biggest benefits include:
- You can qualify for a home loan regardless of your income level. Even if you don’t have a substantial income, you may be able to qualify for a home loan using the assets you have.
- We could qualify you for an asset-based loan of up to $3 million. Loan amounts ultimately depend on the assets that you have in your possession.
- You get to control the assets you use for the loan. You don’t necessarily have to tie all of your assets to the loan.
- Purchase a vacation home or investment property. Using an asset-based loan, you can purchase a home that is not going to be your primary residence.
Reach out to our team to learn more about the top benefits of asset-based lending in Louisiana.
How to Qualify for an Asset-Based Loan in Louisiana
There are a few qualifications you need to meet if you are interested in qualifying for an asset-based loan in Louisiana. They include:
- You need to have a minimum credit score of 620.
- You must provide a minimum down payment of 20%.
- The maximum amount you can qualify for using this option is $3 million.
- We will need to verify your liquid assets before approving your loan.
We will review all of the requirements with you, but remember that you do not need to provide a tax return, you don’t need to verify employment, and you don’t need to verify any proof of income.
How to Get an Asset-Based Loan in Louisiana
An asset-based lender in Louisiana can help you get the right asset-based loan to meet your needs. Asset-based lending in Louisiana simply requires a few straightforward steps. They include:
- Start by reaching out to our team to speak to a mortgage strategist. We will help you get the process going.
- We will have an online application for you to fill out. We will collect some basic demographic information and ask you about the assets that you want to use to qualify for your loan.
- We underwrite and review your application. We will review the information on the application and reach out to you with any questions or requests for additional documentation.
- Application is approved and loan is funded. After we approve the application, we will ask you to sign the final document with a notary present.
Our team will walk you through the process from start to finish, addressing any questions or concerns you might have.
Other Non-QM Loans From Griffin Funding
We have other non-QM loans available. Some of the loans you may want to learn about include:
- Bank statement loan: We can help you qualify for a loan using your bank statements as income rather than your tax returns.
- Interest-only loan: With an interest-only loan, you can avoid making payments toward the principal loan amount for a certain period of time.
- DSCR loans: If you would like to learn more about our debt service coverage ratio loans for real estate investors, reach out to our team.
- Jumbo loans: Maybe you need a slightly larger loan that does not conform to standard limits. We can help you with that as well.
Reach out to us to speak to our team about all of the options we have available.
Work With an Asset-Based Lender in Louisiana
Regardless of whether you are interested in an VA loan or a Non-QM loan, it would be our pleasure to help you. At Griffin Funding, we provide asset-based loans in Louisiana at competitive rates and offer excellent customer service. We can help you finance the next purchase of your house, so get a quote from our team today!