Mortgage without a job but lots of assets?

My mom currently doesn't have a job, but she has lots of assets in the bank. She use to have a business last year (sold it) and collected money from my late fathers life insurance (RIP) and her credit score is like 805... I just wanted to know if she would be able to get a loan if she puts 45% down on a house and gets a loan for 150000...what would she need to qualify??

Update:

She doesn't want to pay cash for the whole house cause most of her money are in CDs, Bonds and stock..

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  • 1 decade ago
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    As long as she has sufficient down payment and can show assets that can make the monthly payment she should be fine. As long as her credit score is high (over 720) she will qualify. She should check with her primary bank first, and also with a reputable local mortgage broker. Brokers often have access to more flexible programs than banks do.

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  • 1 decade ago

    If she doesn't have a job she won't qualify unless she pays cash for the whole deal. Neg. a lower price on the house.

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  • Anonymous
    1 decade ago

    If your credit is good you should be able to get a loan, no problem. The lender would not have to verify income and you may not have to verify your assets based on the program.

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  • 1 decade ago

    Typically, if she is able to put 20% down and can prove she can pay for the mortgage, she wouldn't need to have an actual income.

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  • Anonymous
    1 decade ago

    She would qualify, but why would she want to?

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