Angel Oak - Asset Qualifier Mortgage Loan
Best For: Flexible Terms, Large Loan Amounts, High Credit Scores, Cash-Out
30 year fixed loans from $250k - $3 Million.
Program Description
Qualify for a mortgage using your liquid assets with Angel Oak's Asset Qualifier loan! No need for employment, income, or debt-to-income (DTI) ratios—just the right seasoned assets to justify ability-to-repay. Ideal for retirees, self-employed, divorcees with no income, and others with sufficient assets. Bypass traditional Agency guidelines and experience an easy-to-close solution that meets your home loan needs through the power of your assets.
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Angel Oak - Asset Qualifier Mortgage Loan
Min. Credit Score
700
Min. Down Payment
25%
Max Loan Amount
$3,000,000
Qualification variables shown here are for 1-Unit Primary Residences, and loan amount ranges vary based on US County. Register Now to see if this loan program is a good fit for you, find your county limits, and find more options for purchasing a home.
Pros & Cons
- Qualify based on required assets that meet seasoning requirements
- Credit scores starting at 700
- Purchase and cash-out or rate-term refinance
- Five years seasoning foreclosure, short sale or bankruptcy
- Rates are 30-year fixed only
- Borrowers must have at least $500,000 in post-closing assets.
Program Availability
Angel Oak - Asset Qualifier Mortgage Loans are available in 46 states, and Washington D.C..
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“Ideal for self-employed, retiree's, or divorcees seeking an alternative approach to demonstrate ability to qualify for mortgage."
Occupancy & Property Types
Qualification factors for this program can vary based on how you intend to occupy the property and what type of property you are purchasing. By registering for a free account , you can check program limits for all property and occupancy types.
Occupancy Types
Available Property Types for Primary Residence
Income & Purchase Price Limits
Your Debt-to-Income Ratio (DTI), as well as purchase price and income limits, are important factors when qualifying for a home loan program. By registering for a free account , you can find the exact program limits for this program and others in your area and for your unique scenario.
Debt-to-Income Limit
75.00%
Purchase Price Limit
No Limits
Income Limit
No Limits
Annual Qualifying Income
Qualification variables shown here are for 1-Unit Primary Residences, and loan limit ranges vary based on US County. Amounts may be rounded. Exact amounts can be accessed by registering for a free account.
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Key Features
- Loans up to $3 million with a minimum of $250,000
- No employment, no income, no DTI
- Interest only program available
Additional Conditions
- Required assets: Loan amount, recurring monthly debt multiplied by 60 months, funds to close and six months reserves
- Loan amounts greater than or equal to $1,500,000, a borrower paid second appraisal must be obtained
Other Limitations
In some circumstances, there are specific requirements you must meet or homebuyer education courses you must attend in order to be eligible for the loan program.
No other program limitations
A Homebuyer Education Class is not required for this loan program.
Mortgage Insurance & Fees
Most mortgage programs require mortgage insurance when you are financing more than 80% of the purchase price or appraised value. Some programs may also have an associated funding fee, paid at the time of closing, or an annual fee. Learn all about the different fees here.
No Mortgage Insurance
This program does not require Private Mortgage Insurance (PMI).
Type: No Funding Fee
This program does not have a funding fee.
Type: No Annual Fee
This program does not have an annual fee.
Estimated Closing Costs: 3%
These amounts are just an estimate. Your closing costs include things like loan origination fees, discount points, appraisal fees, title insurance, taxes, deed recording fees, and other charges.
Similar Loan Programs
If you think this home loan program may be a good fit for you, you may also want to check out the following programs that share many similarities with the current program.
Angel Oak - ITIN Mortgage Loan
Best For: Flexible Terms, Large Down Payments, Low Credit Scores
30 year fixed loans from $150k - $3 Million.
FHFC Bond HFA Conventional Loan - Low Income
Best For: First Time Homebuyers, Low Down Payments, Lowest Rates, Easy Qualification
Florida Housing Conventional Loan for low income first time buyers with lower mortgage insurance that can be paired with assistance programs.
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Read MoreVisit our Mortgage Education Center for more resources.
* Some loan programs may not be offered by all featured lenders of ReviewMyMortgage.com and qualification guidelines may vary between them. Our team makes their best effort to keep loan program information up to date. Loan programs may change without warning. ReviewMyMortgage.com does not guarantee or offer any loan products. ReviewMyMortgage.com is strictly an educational resource hub for consumers
ReviewMyMortgage.com is in no way affiliated with the companies or institutions listed here.
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