Account types matter
Retirement, brokerage and cash accounts can be treated differently. Ask which of your accounts can be used.
loan programs
Asset Utilization
Asset utilization programs consider a borrower's assets as part of qualifying, rather than relying only on monthly income documentation.
What this financing is
Some borrowers hold substantial assets but do not show monthly income in the form traditional guidelines expect — retirees and recently exited business owners are common examples.
Asset utilization programs address that. How assets are counted, which account types are eligible and what documentation is required vary by investor and current guidelines.
Who it may be a fit for
Retirees with savings and investment accounts
Borrowers between businesses or roles
Borrowers whose income is irregular but whose reserves are strong
Borrowers with significant investment holdings
Borrowers comparing this with bank statement options
Not sure if Asset Utilization fits your situation?
A licensed Boss Mortgage loan originator can look at the details with you and explain what applies to you.
What to think about
Documentation is statement-driven
Expect to provide account statements, and expect questions about recent transfers.
Compare with other structures
For some files a bank statement or full documentation program prices better. It is worth checking both.
Availability varies
Program availability and terms are subject to change and not all customers will qualify.
How the process works
1. Get approved
Connect with a BOSS Mortgage loan originator, review your financing options, and provide the information needed to understand your buying power before you start shopping.
Connect with a BOSS Mortgage loan originator, review your financing options, and provide the information needed to understand your buying power before you start shopping.
Shop with a clear budget in mind. When you find the right property, your loan originator can help you understand the financing details that apply to that home and your offer.
Once you are under contract, the BOSS Mortgage team helps keep the loan moving through documentation, underwriting, and closing so you can get the keys and move forward.
Frequently asked questions
How is self-employed income documented?
Self-employed files often involve tax returns and business documentation, and calculating usable qualifying income takes experience. Boss Mortgage also offers bank statement options for borrowers whose returns do not reflect the full picture.
Bring your documents to a loan originator rather than guessing at the numbers yourself.
What if I recently became self-employed?
The existing Boss Mortgage Self-Employment Income program description states: “We have options for those of you newly self-employed too! You don’t have to be in business for 2 years anymore, believe it or not!”
Talk with a licensed loan originator about which options currently apply to your situation.
Can assets be used instead of income?
Some programs consider a borrower's assets as part of qualifying rather than relying only on monthly income documentation. Availability and structure vary by investor.
Ask a loan originator whether an asset-based approach fits your file.
What makes a loan a jumbo loan?
A jumbo loan is financing above the standard conforming loan limits that apply in a given county. Because it sits outside those limits, guidelines are set by the individual investor.
Boss Mortgage offers jumbo options for higher-value purchases and refinances.
Is documentation different on a jumbo loan?
Jumbo files often involve a closer review of income, assets and reserves, and appraisal requirements can differ.
Starting the conversation early helps because documentation expectations vary between investors.
Other programs
Bank Statement Loans
Bank statement mortgage options for self-employed borrowers and others whose tax returns do not show the full financial picture.
Learn more →
Alternative Income / Self-Employment Income
Mortgage options for self-employed borrowers and borrowers with alternative income documentation, from Boss Mortgage.
Learn more →
Jumbo Loans
Jumbo mortgage financing for higher-value purchases and refinances, explained by the team at Boss Mortgage.
Learn more →
HECM / Reverse Mortgage
Home Equity Conversion Mortgage information for homeowners aged 62 and older, with guidance from Boss Mortgage.
Learn more →Ready to get started?
Every situation is different. We’ll help you understand your options and what may fit your goals.
This page is general information about mortgage financing and is not a commitment to lend, an offer of credit, or financial or legal advice. Program availability, guidelines and requirements are set by lenders and investors, can change, and depend on your individual circumstances and the property. Talk with a licensed Boss Mortgage loan originator about what applies to you.
Boss Mortgage LLC NMLS #2547821. See the Licensing page for state licensing information. Additional disclosures appear in the footer of every page.