You've built significant assets, but traditional mortgages still want to see standard employment income. Asset-Based and Asset Depletion loans solve this by dividing your eligible liquid assets to create a qualifying monthly "income."
Perfect for retirees, entrepreneurs, or anyone with substantial wealth who prefers to keep their capital invested rather than liquidating it for a cash purchase.
An Asset Depletion (or Asset-Based) loan is a specialized program that allows borrowers to qualify for a mortgage based on their liquid assets rather than traditional income. Lenders calculate a monthly "income" figure by dividing your eligible assets over the term of the loan (or a set period, like 60-84 months).
This is an incredibly powerful tool for high-net-worth individuals, retirees, or entrepreneurs who have significant capital but show low reportable income on their tax returns. You get to keep your money invested and working for you, rather than liquidating it to buy a property in cash.
Qualifying assets typically include checking/savings accounts, stocks, bonds, mutual funds, and retirement accounts (401k, IRA). Note that retirement accounts may be counted at 70-80% of their value if you are under retirement age.
Because these loans do not verify traditional income, lenders look for a strong credit profile to mitigate risk. Higher scores allow for better rates and lower down payments.
While some programs may allow less, a 20% down payment is standard for asset depletion loans. Jumbo loan amounts may require 25-30% down.
You must have substantial assets remaining after the down payment and closing costs to prove you can support the loan payments over time.
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