In this episode of the Mortgages Made Easy Podcast, host Dave Steinberg sits down with Kristen Binkley of Axos Bank, a leading expert in non-traditional mortgage lending for high-net-worth individuals and entrepreneurs with complex financial profiles.
Kristen shares how Axos Bank specializes in mortgage solutions that other banks won’t touch — including "ridiculous loans" for clients with unique income structures, such as business owners, investors, and those with recent tax return losses due to strategic investments or growth.
We explore:
✔️ How Axos underwrites loans based on true ability to repay
✔️ The use of asset depletion and trust income
✔️ Lending for new income streams without two years of history
✔️ Smart options for move-up buyers using bridge loans or cash-out refinancing
✔️ Flexible property titling in LLCs and irrevocable trusts
✔️ A preview of advanced topics like reverse 1031 exchanges
~
Summary:
Axos Bank’s Niche:
Specializes in unconventional or “ridiculous” loans that traditional banks often reject.
Tailored for sophisticated entrepreneurs with complex or non-traditional income structures.
Underwriting Flexibility:
Willing to underwrite based on a borrower's actual ability to repay, not just tax returns.
Accepts recent losses on tax returns if due to strategic business decisions or growth.
Considers current profitability, future income projections, and business performance documentation.
Accepts newer income streams with less than two years of history, if reasonable and sustainable.
Utilizes asset depletion methods to treat assets and trust income as usable income.
Solutions for Move-Up Buyers:
Offers bridge loans or cash-out loans on properties that are listed for sale.
Can exclude debt on a departing residence from underwriting if the borrower has adequate liquidity.
Helps borrowers qualify for new mortgages despite temporary debt-to-income challenges.
Property Titling Flexibility:
Allows primary residences to be titled in LLCs or irrevocable trusts.
Requires the borrower to personally qualify and guarantee the loan.
Supports asset protection strategies for high-net-worth clients.
Dave Steinberg NMLS: #67325 Mortgage Broker Summit Funding
Chapters:
00:00 – Introduction to Kristen Binkley & Axos Bank
01:45 – What Makes a "Ridiculous Loan"?
03:30 – Serving High-Net-Worth Clients with Complex Finances
06:10 – Underwriting Beyond Tax Returns
08:25 – Accepting New Income Streams Without 2-Year History
10:40 – Using Asset Depletion & Trust Income in Mortgage Approval
13:00 – Mortgage Solutions for Move-Up Buyers
15:15 – Bridge Loans & Cash-Out Refinancing Explained
17:45 – Excluding Debt on Departing Primary Residence
20:00 – Property Titling in LLCs & Irrevocable Trusts
22:15 – Why Flexibility Matters for Sophisticated Borrowers
24:00 – Sneak Peek: Reverse 1031 Exchanges & Future Topics
25:30 – Final Thoughts & Where to Learn More
-
Connect with me:
Office: 718.575.1166
Email: dave@summitfunding.com
https://summitfunding.com
-
Summit Funding | Registered Mortgage Broker (NMLS #52081) New York State Department of Financial Services
7030 137 Street, Kew Gardens Hills, NY 11367
Summit Funding | Licensed Correspondent Mortgage Lender (NMLS #301151) New Jersey Department of Banking and Insurance
Summit Funding Inc., Your Mortgage Professionals Licensed Mortgage Broker (NMLS #84943) | State of Connecticut Department of Banking
Summit Funding, Your Mortgage Professionals, Inc. Licensed Mortgage Broker (NMLS #84943) | Florida Office of Financial Regulation
Loans Provided By Third Party Lenders
Refer with Confidence®
-
#yourmortgageguy #mortgages #mortgageprofessionals #homeloans #firsttimehomebuyer
