Asset-Based Loans in Washington DC

An asset-based loan is a type of financing where the loan amount is determined by the value of your assets rather than your income. This is particularly beneficial if you have inconsistent or variable incomes, such as a business owner, contractor, freelancer, and retiree who often has significant tax write-offs.

Instead of relying on regular paychecks, lenders consider your liquid assets, like savings, investments, or retirement accounts, as income. This makes it an ideal solution for securing a self-employed home loan, providing financial flexibility and leveraging substantial assets even when income documentation might fall short of traditional mortgage requirements.

Asset-based loans in Washington, DC work by using your assets as income to secure financing. Qualifying assets typically include things like:

• Checking and savings accounts
• Stocks and bonds
• Retirement accounts
• Money market accounts
• Certificates of deposit (CDs)

With an asset-based mortgage loan in Washington, DC, lenders will consider up to 70% of your retirement and investment assets as income, and up to 100% of liquid assets like checking and savings accounts as income. Asset-based loans are part of non-qualified mortgages, also termed non-QM loans, which help borrowers provide alternative means of income verification to secure financing.

Other non-QM loans offered by Griffin Funding include DSCR loans and bank statement loans. A DSCR loan in Washington, DC is particularly beneficial for real estate investors to secure financing through the cash flow on their investment properties. On the other hand, a bank statement loan helps borrowers qualify for financing based on their bank statements instead of their tax returns.

Ultimately, asset-based lending in Washington, DC provides financial solutions for those with substantial assets but inconsistent income, ensuring that you can access necessary funds without traditional income verification constraints.

Choosing asset-based lending can be a strategic move for those with significant assets but irregular income. Whether you’re a business owner, freelancer, or retiree in the District of Columbia, asset-based loans provide a flexible financing solution tailored to your unique financial situation. Here are some key benefits of asset-based loans in Washington, DC:

• Access to funds: Securing a Washington, DC asset-based loan allows you to leverage your assets rather than your income. Depending on your assets, you can qualify for large loan amounts of up to $3 million.
• Flexible asset options: With asset-based lending in Washington, DC you can use a variety of assets, such as bank accounts, CDs, and investment accounts, as income. Griffin Funding also does not require you to pledge any of your assets as collateral, meaning you don’t have to transfer your assets over to us to secure the loan.
• Faster approval: The approval process is usually quicker with asset-based loans since it focuses on asset value instead of credit history, allowing you to access capital more rapidly.
• Tailored financing solutions: Asset-based loans can also be structured to meet your specific needs. Options like an asset depletion mortgage enable you to utilize your assets effectively for home financing and revolving lines of credit can offer flexibility in repayment terms.
• Purchase a second home: With asset-based loans in the District of Columbia you can also invest in a second home as they aren’t limited to primary residences.

Asset-based loans in the District of Columbia are calculated based on the value of your liquid assets, such as savings, investments, and real estate. This approach allows those with inconsistent income to qualify for loans by leveraging their substantial assets.

To qualify for Washington, DC asset-based loans, you must meet certain minimum requirements. These requirements ensure that asset-based loans are accessible to those with fluctuating incomes but strong asset portfolios.

• Significant liquid assets: Borrowers need to demonstrate a substantial amount of liquid assets.
• Fair credit score: While not always mandatory, a higher credit score can improve loan terms. At Griffin Funding, you must have a minimum credit score of 620 to qualify for asset-based loans in the District of Columbia.
• Proof of assets: Documentation proving the value and ownership of the assets is necessary.

Reach out to us today to learn more about whether or not you qualify for an asset-based mortgage loan in Washington, DC.

Applying for an asset-based loan with Griffin Funding in Washington, DC is straightforward and efficient. First, you’ll have an initial consultation with a loan specialist to discuss your financial situation and determine if an asset-based loan is the right fit for you. Next, you’ll submit documentation proving your liquid assets, such as bank statements, investment accounts, and other asset types.

We will then evaluate your assets, typically considering 80-100% of their value to calculate the loan amount. Once your assets are assessed, you’ll receive tailored loan terms, and, upon agreement, the loan will be processed and approved swiftly. Once you finalize the paperwork, you will receive your funds.

Embrace the power of your assets and unlock the door to homeownership with Griffin Funding’s asset-based loans in Washington, DC. Tailored for those with substantial assets but irregular income, our streamlined process ensures quick access to capital, customized to your unique circumstances.

As pioneers in asset-based lending, Griffin Funding offers flexible options designed to meet your specific needs. Whether you’re a business owner, freelancer, or retiree, our solutions empower you to leverage your assets effectively for home financing or real estate investment expansion.

Plus, with the Griffin Gold app, managing your loan and tracking your investment portfolio becomes effortless. Take the first step towards your homeownership goals today by starting with an online application. Experience the difference with Griffin Funding—a seamless and efficient journey towards homeownership awaits.