Areas We Serve
At Griffin Funding, we are proud to serve all areas of Nevada, including the following cities:
- Carson City
- Incline Village
- North Las Vegas
- Sunrise Manor
- Las Vegas
- Spring Valley
It would be our pleasure to help you as well. If you are interested in asset-based loans in Nevada, get in touch with our team and take the first step towards securing financing.
What Is an Asset-Based Loan?
If you apply for a traditional mortgage, you typically have to provide proof of income with your application. However, this can make it difficult for small business owners, retirees, and those with inconsistent sources of income to qualify. With a Nevada asset-based loan, you can qualify for financing solely based on your assets rather than income.
An asset-based loan also known as an asset utilization loan allows you to use your assets as income to qualify, thereby making them work for you. At Griffin Funding, it would be our pleasure to walk you through the process, making sure that you get the right home loan for your needs.
How Do Asset-Based Loans Work in Nevada?
Asset-based lending in Nevada can help you qualify for a home loan, but you need to know how it works. First, you’ll need to prove that you have enough assets for the loan. Some of the assets that you might want to use to qualify for the loan include your investment portfolios, bank accounts, and retirement accounts. Then, based on the assets you have, we can determine the loan amount you’re eligible for, as well as the interest rate and loan terms you qualify for.
When you take out an asset-based loan, you can use up to 70% of what you have in retirement and investment accounts or 100% of liquid assets. It is up to you to decide what assets you want to use to qualify for the loan, and you certainly do not have to use everything. Our team can help you decide what is best for your needs.
Benefits of Asset-Based Mortgage Loans
There are several significant benefits you will enjoy if you decide to go with an asset-based mortgage loan in Nevada. Some of the biggest benefits include:
- It doesn’t matter how much income you have. You are always welcome to apply. Even if your income is low, you might be able to use your assets to qualify for a mortgage loan.
- Asset-based loan rates are competitive. Griffin Funding always offers borrowers competitive rates. If you have a good credit score, you can qualify for the lowest asset-based loan rates.
- You are in control of the assets you use for a loan. If there are specific assets that you do not want to use as a part of your home loan, you do not have to.
- You can purchase a home that is not your primary residence. If that is the case, we can talk to you about the process.
- You can qualify for large amounts of financing. You can take out a home loan for up to $3 million, depending on the assets you have.
If you want to take full advantage of an asset-based loan, count on our team to help you.
Who Qualifies for an Asset-Based Loan in Nevada?
Many people are able to qualify for an asset-based mortgage loan. However, in order to qualify, you must meet a few basic requirements, such as demonstrating a minimum credit score of 620 and putting at least 20% down on the loan.
If you think you qualify for an asset-based loan in Nevada, follow the steps below to begin the application process:
- Reach out to a strategist from our team who can help you.
- We will direct you to fill out an online application, where we will collect some basic demographic information.
- We will ask you to specify the assets that you want to use as a part of your mortgage, and we will ask for proof of those assets.
- We will review the documentation and let you know how much of a loan you have qualified for.
- Finally, we will invite you to sign the final loan document with a notary.
If you would like to learn more about the application and approval process for asset-based loans in Nevada, please reach out to our team.
Other Non-QM Loans From Griffin Funding
In addition to asset-based loans in Nevada, we offer a number of other Non-QM loans. Some of the Non-QM loan options you may want to consider include:
- Bank statement loans in Nevada: You might be interested in a loan that you can take out with only your bank statements, and we can help you with that.
- DSCR loans in Nevada: We offer competitive debt service coverage ratio (DSCR) loans to real estate investors , so contact our team to find out more.
- Interest-only loans: We offer loans where you only pay the interest, so do not hesitate to talk to our team about this option.
- Jumbo loans: If you want to access large amounts of financing, then our jumbo loans with 10% down may be right for you.
Rely on the experienced team at Griffin Funding to help you figure out which loan is best for your needs.
Apply for an Asset-Based Loan in Nevada
Asset-based loans in Nevada offer flexibility for those who may not qualify for traditional mortgages. We are Griffin Funding, and we have a wide variety of loan options available. We would love to help you explore all of your choices, including VA loans in Nevada, fixed-rate mortgages, commercial loans, and more.
We understand that everyone is in a different situation, and that is why we will walk you through the process, making sure you select the best loan for your individual situation. If you would like to learn more about how we can help you qualify for a mortgage loan in Nevada, contact us today to speak to our team.