When you think mortgage, ThinkJohnAJr.com! Our featured affiliate of the day offers advice on new mortgage programs for the self-employed including the 40 year mortgage loan and asset depletion mortgage. Read on to find out more!

Since the disappearance of “Stated Income” and “No Income” documentation loans, taking advantage of today’s low interest rate mortgages has been difficult for self-employed borrowers. There are however two loan programs we have available which may help.

Asset Depletion Mortgage;

Liquefiable assets accounts are assessed a “monthly income value” which is then added to the borrowers total income profile.  For every $500,000 about $2,500 in income is added.  For those homeowners who previously did not document enough income to qualify, the added “income credit” this loan offers may just push them over the edge.

40-Year Mortgage Loan;

Traditional mortgage loans are underwritten using a 30-Year Mortgage term.  A $600,000 mortgage with an interest rate of 3.875% would yield a payment of $2,822.  This same mortgage would yield a payment $360.00 less with a 40-Year Mortgage term.

By taking advantage of either (or both) of these loan programs, it is pretty easy to see how very quickly a homeowner who was previously denied could now capitalize on today’s Fixed, Adjustable and Interest Only loan programs.

Every client and every situation is unique.  Our consultative approach to mortgage finance allows us to tailor a customized mortgage solution, when others have said no.

Authored by John A Soricelli Jr – When You Think Mortgage;ThinkJohnAJr.com –  949-478-FUND.

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