Areas We Serve
Here at Griffin Funding, we can provide asset-based loans virtually anywhere in the state of New Mexico. Below are just some of the cities where we provide asset-based lending services:
- Las Cruces
- Rio Rancho
- South Valley
What Is Asset-Based Lending?
The first question that will come to many people’s minds is, “What exactly are asset-based loans?” Asset-based lending allows a person to qualify for a loan based upon the value of their assets instead of using traditional methods of verifying their income. If you have accumulated assets over the years, it is possible for you to qualify for an asset-based loan.
Examples of people who could use asset-based lending are a retiree with a minimal fixed income, someone who wants to start a new business, or an established business for whom maintaining a high cash flow is a priority. With an asset-based loan, you can often still get financing even if you don’t qualify for a traditional mortgage. This allows you to tap into the equity of your assets and buy the home you want.
Benefits of Asset-Based Loans
Asset-based loans in New Mexico come with an array of unique benefits that can make them an attractive prospect for certain borrowers. Here are some of the key benefits of asset-based loans from Griffin Funding:
- Loan amounts of up to $3 million are possible
- You can qualify based on assets alone
- You do not have to go through traditional income verification processes
- You can qualify for a loan regardless of your income level or employment status
- Cashing out is permitted
Asset-Based Loan Qualification Requirements
In order to qualify for an asset-based loan in New Mexico, you will start by completing a quick online application. After submitting proof of your verified assets, one of our loan specialists will take into account the value of your assets and qualify you based on that. You must also meet other key requirements, such as demonstrating a minimum credit score of 620 and supplying at least a 20% down payment.
As one of the top New Mexico mortgage lenders, we take pride in offering customers a straightforward application and approval process. If you believe you meet the minimum requirements to qualify for an asset-based loan, fill out our online application, which can be completed in about 15 minutes. If you do, in fact, meet the basic requirements for an asset-based loan in New Mexico, you will meet with one of our loan specialists and we can discuss the next steps in the process.
How to Get an Asset-Based Loan in New Mexico
At Griffin Funding, we offer a simple application process for those interested in securing an asset-based loan in New Mexico. Once you fill out an online loan application, we can schedule a meeting where we discuss your options and gain more insight into your basic financial situation.
Upon your initial meeting, your loan specialist will ask you all sorts of questions in order to determine the best home loan program for you to go with. He or she will take into account your financial situation, your credit score, and how much of a down payment you want to put down. We will work with you to find the best financing product for your circumstances, whether that be an asset-based loan in New Mexico or some other loan type.
Other Non-QM Loans From Griffin Funding
In addition to providing asset-based loans to New Mexican residents, we offer a number of other Non-QM mortgages. For instance, some of the Non-QM mortgages we offer include:
- Bank Statement Loans – With bank statement loans, you can qualify for financing based on a series of bank statements that indicate regular deposits.
- DSCR Loans – Debt service coverage ratio (DSCR) loans can be a great way for real estate investors and mortgage brokers to secure financing for investment properties.
- Interest-Only Loans: Interest-only loans allow borrowers to delay making payments toward the principal amount of the loan for a set amount of time, and instead only pay the interest.
See If You Qualify for an Asset-Based Loan in New Mexico
If you are interested in securing an asset-based loan in New Mexico, get a quote from a specialist. At Griffin Funding, one of our representatives will work with you to see if you qualify for an asset-based loan. We will use our industry-leading, cutting-edge technology to streamline the application process and make everything easy on your end.
As one of the top asset-based lenders in New Mexico, we always offer competitive rates and terms, as well as excellent customer service. Reach out to our team today to find out more about asset-based loans in New Mexico.