Exciting new product for buying homes! Pledged Asset Loan Program
These people have pulled off some miracles for several of our clients in getting difficult loans, even at the last minute. Stacey Fleece tells us about this interesting new program from Princeton Capital.- Mick Orton
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The pledged asset loan program allows customers to finance up to 100% of a home purchase without liquidating investment assets. The customer keeps the investment strategy in place and defers capital gains taxes. Some of the benefits and features of this program are:
- There is no additional cost for this program and no interest rate add-on
- A parent or sponsor may pledge assets on behalf of a borrower in lieu of a down payment or a gift letter
- Available on second homes, investment properties and for cash-out refinances
- Customer can maintain long-term investment strategy and benefit from interest, dividends and investment appreciation
- This is no Private Mortgage Insurance (PMI) required as would be typical with a loan-to-value over 80%
- Defer capital gains tax by keeping investment assets in place
- Borrowers may keep pledged assets with their brokerage firm of choice, as long as the firm agrees to certain pledge account requirements. The borrower may pledge multiple accounts
- Eligible assets include stocks, bonds, mutual funds, CDs and others. Retirement accounts are not eligible.
- Trading is allowed in the pledged account with permission
Contact me for more information!
Stacey C. Fleece, CFA
Senior Loan Consultant
Princeton Capital
415.229.1228 (office)
415.596.6069 (mobile)
staceyfleece@princetoncap.com
posted by SFResidence.com @ 8:02 AM
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