Asset-Based Refinance Case Study: Retirees Unlock Home Equity
- By Jim Blackburn
- on
Client Profile
- Names: Robert & Elaine T.
- Ages: 67 & 65
- Professions: Semi-Retired Business Owner & Former Art Gallery Director
- Location: Santa Barbara, CA
- Home Value: $1.35M
- Original Loan Balance: $685,000
- Cash-Out Refinance Amount: $150,000
- Loan Type: Asset Depletion Refinance
- Credit Scores: 726 & 742
The Challenge
Robert and Elaine had accumulated significant wealth over time but were no longer drawing active income. Their assets were in brokerage and retirement accounts, and they lived primarily off of dividends and a modest annuity.
They wanted to pull equity from their home to purchase a vacation cabin in Lake Tahoe but didn’t want to trigger unnecessary tax events or provide years of tax returns.
The Strategy
We structured an Asset-Based Refinance, using:
- Verified asset balances across multiple accounts
- Asset depletion calculations to generate qualifying monthly income
- No tax returns, employment documentation, or pension verifications required
- Cash-out funds delivered at closing with a 30-year fixed option
The Outcome
- Pulled $150,000 cash out while keeping investments intact
- Used proceeds to place 50% down on their Lake Tahoe retreat
- Avoided capital gains or early withdrawal penalties
- Maintained financial privacy and flexibility in retirement
Quote from Elaine:
“This loan let us stay liquid and in control. No tax returns, no red tape—just access to what we already worked for.”
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