Non-QM Loan Program

Asset Depletion Loans: Qualify Using Documented Assets

Asset-based mortgage qualification — also called asset depletion or asset utilization — converts your eligible liquid assets into an imputed monthly income for underwriting. This path may fit retirees, high-net-worth borrowers, and others whose income documentation does not reflect their financial strength.

Eligible assets may include savings, brokerage, and retirement accounts
Can be used alone or combined with other income
Primary residence, second home, and investment scenarios may be available, subject to lender approval

All Non-QM Programs

Program availability, eligible asset types, income calculation methods, and LTV limits vary by lender and are subject to underwriting. National Mortgage Center is powered by Stride Bank, N.A. Not a commitment to lend.

Stride Bank, N.A. · NMLS #466690 · Equal Housing Lender

What is an asset depletion loan?

An asset depletion loan is a Non-QM mortgage. Qualification may use eligible, documented assets to calculate qualifying income, alone or with other income; lender requirements vary. Lenders must still verify your ability to repay using reliable records. A lender divides eligible, documented assets by a lender-set number of months to calculate a monthly income figure; the method and eligible assets vary by lender. Non-QM loans are designed for borrowers whose income, credit or property doesn't fit standard agency guidelines. They may have higher rates or fees than qualified mortgages. Asset-based loans are offered through Stride Bank, N.A. (NMLS #466690), subject to lender approval; terms and requirements vary.

Qualification still depends on credit, equity, reserves, and overall file strength — not assets alone.

National Mortgage Center is powered by Stride Bank, N.A. This page is educational and not a commitment to lend.

How Asset Depletion Income Is Typically Calculated

The basic formula converts a lump-sum asset value into a monthly income figure for underwriting. The specific rules vary by program and lender.

How lenders typically model asset income

Scenario dependent

A lender divides eligible, documented assets by a lender-set number of months to calculate a monthly income figure; the method and eligible assets vary by lender.

Example (hypothetical; not a program limit): A lender divides eligible, documented assets by a lender-set number of months to calculate a monthly income figure; the method and eligible assets vary by lender. Actual qualification depends on complete underwriting, credit, LTV, and program guidelines. Not a rate quote or approval.

Assets That May Qualify

Checking and savings accounts
Money market accounts
Certificates of deposit (CDs)
Taxable brokerage and investment accounts
Retirement accounts (IRA, 401k — often with a discount for tax obligations)
Business-held assets may not be eligible; ask your loan officer
Accounts held outside the U.S. (eligibility varies by lender)
Proceeds from a documented asset sale if properly seasoned

Assets That Generally Do Not Qualify

Real estate equity (the property you are buying or currently own)
Unvested stock options or restricted stock
Assets pledged as collateral elsewhere
Cash held outside of documented accounts
Unseasoned assets (recently transferred or deposited)
Accounts held outside the U.S. when a program restricts them
Assets held in accounts the borrower does not have legal access to

Eligible asset types, haircuts on retirement accounts, and business asset rules vary by program and lender. Our team can confirm which of your assets may be used.

Who May Consider Asset Depletion?

Illustrative scenarios — not claimed customer stories.

Retiree with pension and investment portfolio

Situation: Retired professional with a modest pension but a substantial brokerage portfolio. Wage income alone falls short of traditional qualification thresholds.
Consideration: Eligible liquid assets modeled over a lender-set period could produce a meaningful imputed monthly income when combined with existing pension income.
What to do next: Document all eligible accounts and confirm which assets are liquid vs. retirement (retirement may be discounted). Calculate an estimated income range before applying.

Executive with equity compensation

Situation: High earner whose compensation includes stock grants or restricted stock. Vested shares are substantial but variable income may not qualify conventionally.
Consideration: Eligible liquid securities may support asset depletion income as a supplement to base W-2 income, depending on program guidelines.
What to do next: Segregate vested liquid assets from unvested grants and confirm seasoning on the accounts to be used as the lender requires.

Business sale proceeds

Situation: Business owner recently sold their company. Proceeds are in a brokerage or savings account but no ongoing W-2 income.
Consideration: Asset depletion may be the primary income path depending on the size of proceeds and the lender's method. Note that recently received funds may not be considered fully seasoned.
What to do next: Confirm seasoning timing, document the source of funds from the sale, and model income using the lender's method to understand the qualifying range.

Buyer with substantial liquid assets and limited wage documentation

Situation: Buyer purchasing a second home or investment property with substantial documented liquid assets and limited traditional wage documentation.
Consideration: Asset utilization may support qualification when documented assets are strong; eligibility, documentation and terms vary by lender.
What to do next: Confirm which assets are eligible, confirm seasoning as the lender requires, and review reserve requirements for your loan amount.

Estimate Your Non-QM Scenario

The Non-QM calculator on our main program page includes an asset depletion path. Model your eligible assets and review estimated qualifying income ranges before talking with our team.

Open Non-QM Calculator

What to Prepare

Asset documentation

30-day or 60-day statements for all eligible accounts
Documentation of large deposits (source-of-funds letters)
Statements showing documented seasoning prior to application as the lender requires
Rollover or transfer documents if assets were recently moved

General application documents

Government-issued photo identification
Social Security number or ITIN
Property details and purchase contract (for purchases)
Any other income documentation to supplement asset income
Explanation of any significant credit events

Asset Depletion Loan FAQ

Get an Asset Depletion Scenario Review

Not sure if your assets support a mortgage qualification? Our team can walk through your eligible assets, estimated income, and program options — at no obligation.

All Non-QM Programs (855) 699-1424

Last updated: June 2026. Educational guidance only.

Not a commitment to lend. Equal Housing Lender. Loan terms vary by lender and underwriting.

National Mortgage Center is powered by Stride Bank, N.A. Non-QM program availability, pricing, and documentation requirements are subject to change and final underwriting approval.