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| Pledged Asset Loans |
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Pledged Asset Loans
This program allows you to finance 100% of purchase without liquidating investment assets. You keep your investment strategy in place and defer capital gains taxes.
Benefits/Features:
- No additional cost or rate add-on including interest only
- Parent or sponsor may pledge assets on behalf of a borrower in lieu of down payment
- Available on 2nd homes, investment properties to 4 units and cash-out refinances
- You keep investment strategies in place, continuing benefit from interest, dividends and investment appreciation
- No Private Mortgage Insurance required
- Pay no capital gains on needed down payment as investments kept in place, merely pledged as additional collateral
- Investment assets stay with brokerage firm of choice and multiple accounts may be pledged
- Eligible assets include stocks, bonds, mutual funds, CD's and others-retirement accounts are ineligible
- Trading is allowed in the pledged account with permission
Term: 30 years
Maximum Amount: $5,000,000
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| | Initial pledge must equal at least 143% of the required down payment at loan closing and must be maintained at a value of 120% during the pledge period. If the borrower is unable to maintain the value at 120%, the lender may require the sale of all or a portion of the pledged assets. Margin investing involves greater risks and is not suitable for all borrowers. All borrowers should consult a financial planner before selecting this type of loan. |
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Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $417,000 for the contiguous states, District of Columbia, and Puerto Rico or below $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $250,000 with closing costs of $5,000. Jumbo Loans (whose maximum loan amount exceed $417,000 for the contiguous states, District of Columbia, and Puerto Rico or exceed $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $475,000 with closing costs of $9,500. Your actual APR may be different depending upon these factors.
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