What is an asset depletion loan?
Answered by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
An asset depletion loan lets you qualify using your liquid assets instead of employment income. The lender divides your eligible assets by a set number of months to create a monthly 'income' figure.
It's ideal for retirees and high-net-worth borrowers who are asset-rich but show little earned income. We'll calculate your asset-based income and find the program that accepts it.
Income from assets
An asset depletion loan qualifies you using your savings and investments instead of a paycheck. The lender divides your eligible assets over a set number of months to create a monthly income figure.
It is ideal for retirees or buyers with large accounts but little traditional income.
What assets count
Lenders count balances in checking, savings, investment, and retirement accounts, usually applying a discount to the riskier ones. The bigger your liquid assets, the more you can qualify for.
If you are asset-rich but income-light, this loan can unlock a purchase. Apply now and we will calculate your depletion income and options.