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Asset-Based Mortgage Florida

Asset Depletion Loans Florida

Qualify for a Florida mortgage on your savings and investments instead of a paycheck. Asset-based loans built for retirees and high-net-worth buyers. NMLS# 1859012.

Assets
Qualify You
No Job
Income Needed
620+
Min FICO
Get Pre-Approved📞 (561) 300-0380
By Onias Derilus, NMLS# 1859012 · Licensed FL Mortgage Broker · Last Updated: May 2026
Asset Depletion Loans Florida

Asset-Based Mortgages in Florida

You built the savings. An asset depletion loan lets that money qualify you, even if your paycheck does not. The lender turns your balances into a monthly income figure on paper.

Standard loans need a job and tax returns. Plenty of Florida buyers have neither in the form lenders expect, yet they hold serious wealth. Asset depletion solves that mismatch.

Who uses it? Retirees living on investments, business owners between ventures, and high-net-worth buyers whose income is low on paper but whose accounts tell the real story.

Eligibility & Requirements

✓Liquid assets large enough to cover the loan under the lender's formula
✓620+ credit score on most programs
✓20–30% down payment typical
✓Eligible accounts: checking, savings, brokerage, retirement
✓Statements documenting the balances (no withdrawal required)
✓No employment or tax-return income needed

Official resource: CFPB — Owning a Home.

Which Accounts Count
Checking & savings100% usually
Brokerage / investmentOften discounted
Retirement (59½+)Often discounted
Home equityDoes not count
Discount factors vary by lender and account type.
Qualifying Example — Illustration
Eligible assets$1,200,000
Divided over120 months
Qualifying income~$10,000/mo
Min down payment20–30%
Min FICO620+
Job income neededNone
Illustration only — not a rate quote. Formula and term vary by lender.
Rates & Costs

What Asset Depletion Loans Cost

Asset depletion loans sit in the non-QM family, so they price a bit above a standard conventional loan. Your rate improves with a larger down payment, strong credit, and a healthy cushion of assets beyond what the loan requires.

Reserves Help
Assets well above the minimum show strength and can sharpen your rate.
Down Payment
Larger down payments lower risk and the rate that comes with it.
Credit Profile
A clean history at 700-plus earns the best pricing on these loans.

We do not post a fixed rate — your number depends on your file. Request a personalized quote for real terms.

Pros & Cons

Asset Depletion Loan Pros and Cons

Advantages
✓Qualify with no job income
✓Keep your money invested
✓Great fit for retirees
✓Works for second homes
✓No tax returns required
Trade-offs
✓Rates run above conventional
✓Large asset balances required
✓Retirement funds often discounted
✓20–30% down is common
✓Fewer lenders offer it
How to Qualify

How Asset-Based Buyers Get Approved

1. Total your assets
We add up eligible checking, savings, brokerage, and retirement balances.
2. Apply the formula
The lender divides your assets over a set term to create a monthly qualifying income.
3. Check the ratios
That figure runs through the debt-to-income test like any other income source.
4. Close on your wealth
No job or tax-return income needed — qualify on the accounts you already hold.
Florida Notes

Asset-Based Buyers in Florida

Florida is a retirement magnet, and many newcomers arrive with strong portfolios and modest reported income. Asset depletion was practically built for that buyer. It turns a lifetime of saving into real buying power for a home in The Villages, Naples, Sarasota, or the coast.

Snowbirds buying a second home benefit too. When you split time between states and live off investments, an asset-based mortgage often approves the purchase that a paycheck-driven loan would decline.

Compare Options

Ways to Qualify Without a Paycheck

How asset depletion compares with conventional and bank statement qualifying.

FeatureAsset DepletionConventionalBank Statement
Qualifies OnLiquid assetsTax returnsBank deposits
Job Income NeededNoYesNo
Min Down20–30%3–5%10–20%
Best ForRetirees / HNWW-2 earnersSelf-employed
Min FICO620+620+620+
Asset Depletion FAQ

Asset Depletion Loan Questions, Answered

What is an asset depletion loan?
An asset depletion loan lets you qualify using your liquid assets instead of a paycheck. The lender converts your savings, investment, and retirement accounts into a monthly income figure by spreading the balance over a set number of months. Mortgage Capital (NMLS# 1859012) uses this for Florida buyers who have wealth but little traditional income.
Who qualifies for an asset-based mortgage in Florida?
Retirees, near-retirees, and high-net-worth buyers are the usual fit. If you have a large nest egg but no W-2 or your tax returns understate what you can really afford, an asset-based mortgage may approve you when a standard loan will not. Florida's many retirees and snowbirds use this path often.
How is the qualifying income calculated?
Lenders take your eligible liquid assets, sometimes apply a discount to investment and retirement balances, then divide by a fixed term such as 84 or 120 months. The result is treated as monthly income for the debt-to-income calculation. You are not required to withdraw or spend the money.
Which assets count toward an asset depletion loan?
Checking, savings, money market, brokerage accounts, and most retirement funds typically count. Retirement accounts are often discounted and may be limited if you are under 59 and a half. Home equity and business operating accounts usually do not count. We review your statements to estimate the qualifying figure.
What credit score and down payment do I need?
Most asset depletion programs want a 620 or higher score and 20 to 30 percent down, though strong reserves can help. Because the loan leans on your assets, lenders look for a clean credit history alongside the account balances. We match your profile to the lender with the friendliest terms.
Can I use an asset depletion loan for a second home in Florida?
Yes. Asset-based qualifying works for primary homes, second homes, and in some cases investment properties. Snowbirds buying a Florida second home frequently use it because their retirement assets qualify them even when their reported income is modest.
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Non-QM Loans FloridaBank Statement LoansJumbo Loans FloridaAll Florida Loan Programs

Qualify on Your Assets in Florida

No job income required · Asset-based mortgages · Licensed FL mortgage broker NMLS# 1859012

📞 (561) 300-0380

Rates are illustrative only. APR and payments vary by credit score, loan amount, and market conditions. Subject to credit approval. Not a commitment to lend. NMLS# 1859012. Equal Housing Lender.