Asset Depletion Mortgage
For High Net Worth Borrowers – Qualify Using Your Assets, Not Your Income
The Asset Depletion Mortgage Program is a product under our Platinum suite. It is designed for borrowers who have significant liquid assets but may not have traditional income sources. This program allows you to use your assets to qualify for a mortgage, making it ideal for retirees, self-employed individuals, or anyone with substantial savings.
Qualifying Method:
- Monthly income is calculated by dividing eligible assets by 84 months.
- No other income sources are allowed; employment and tax returns are not required.
Eligible Asset Types:
- Checking, savings, CDs, money market accounts: 100% of value.
- Stocks, bonds, mutual funds: 70% of value (publicly traded only).
- Retirement accounts: 70% of value (non-401K), 50% of value (401K).
- Assets must be sourced or seasoned for at least 30 days
700
Min Fico
No bankruptcy, foreclosure, deed-in-lieu, or short sale in the past 5 years.
Maximum DTI: 40%/45%
Occupancy
Owner-occupied, primary residence and second home only.
Property Type
Single-family homes, PUDs, townhouses, and condos (primary residence and second home only).
Loan Purpose
Purchase and Rate & Term Refinance (cash-out not permitted).
Documentation
No employment or income documentation required; asset statements are used for qualification.
- Reserves: Minimum 3 months required. Cash-out may be used to satisfy reserve requirement
- A minimum of $500,000 in remaining liquid assets after down payment, closing costs and reserves
- Loan Amounts & LTV/CLTV: Up to $2.0MM (80% LTV/CLTV)
- Loan Amounts & LTV/CLTV: Up to $2.5MM (75% LTV/CLTV)
- Loan Amounts & LTV/CLTV: Up to $3.0MM (70% LTV/CLTV)
This program is intended for licensed mortgage professionals only and is not for consumer or general public distribution. All loans are subject to credit approval and program guidelines
Benefits
Flexible Qualification: Perfect for borrowers with substantial assets but limited or no traditional income.
Streamlined Process: No need for employment verification or tax returns.
Competitive Loan Amounts: High loan limits and flexible LTV options.
Who Should Consider Asset Depletion?
Retirees living off savings or investments
Self-employed individuals with fluctuating income
Borrowers with significant liquid assets