What is an asset depletion mortgage?

An asset depletion mortgage — also called asset dissipation or asset utilization — is a Non-QM loan program that converts eligible liquid assets into a calculated monthly income for mortgage qualification purposes. Instead of using W-2s, tax returns, or pay stubs, the lender divides the borrower's eligible assets by a continuance period to arrive at a qualifying monthly income figure. No employment is required. The assets are not liquidated — they remain in the borrower's accounts.

How is income calculated on an asset depletion mortgage?

Eligible liquid assets are totaled and divided by a continuance period — typically 60, 84, or 360 months depending on the program and lender. The result is the monthly qualifying income. For example, $1,000,000 in eligible assets divided by 84 months produces approximately $11,900 per month in qualifying income. Down payment and closing cost funds are subtracted from assets before the calculation. Calculation methodology varies by lender and program.

What assets are eligible for asset depletion qualification?

Eligible assets typically include checking and savings accounts, money market accounts, certificates of deposit, stocks and bonds, mutual funds, ETFs, and vested retirement accounts such as IRAs and 401(k)s. Retirement accounts may be subject to a discount factor — typically 60–70% of the balance — to account for potential early withdrawal penalties and taxes. Business accounts, non-liquid assets such as real estate equity, and restricted stock units are generally not eligible. Specific eligibility varies by lender and program.

Do I need to liquidate my assets to qualify for an asset depletion mortgage?

No. The assets remain in your accounts throughout and after the loan process. Asset depletion qualification uses the asset balance as a theoretical income source — the calculation assumes the assets could generate income over the continuance period if needed. You are not required to liquidate, withdraw, or move the assets. Standard documentation requires account statements typically covering 2–3 months.

Can I use retirement accounts for asset depletion qualification?

Yes — on qualifying programs. Vested retirement accounts including IRAs, 401(k)s, and other qualified retirement plans may be eligible for asset depletion calculation. Retirement accounts are typically discounted — often 60–70% of the account balance is used — to account for potential taxes and early withdrawal penalties. Borrowers who are already taking distributions from retirement accounts may have additional qualification options. Call to discuss how your specific retirement assets would be treated.

Who qualifies for an asset depletion mortgage in Florida?

Asset depletion programs are designed for borrowers with significant liquid assets who have limited or no traditional employment income — retirees drawing down portfolios, high net worth individuals living on investments, recently retired borrowers transitioning from employment income, and self-employed borrowers who can supplement bank statement income with asset calculations. A minimum asset threshold is required — call to discuss whether your asset level supports qualification for your target loan amount.

What is the minimum amount of assets needed to qualify?

The minimum asset level depends on the target loan amount and the continuance period used. As a general guide, to qualify for a $400,000 loan at a 45% DTI with a 360-month continuance period, you would need approximately $800,000 to $1,000,000 in eligible liquid assets before subtracting down payment and closing costs. The exact calculation depends on the interest rate, loan term, property taxes, insurance, and other debt obligations. Call to run the numbers for your specific scenario.

Can asset depletion income be combined with other income sources?

Yes. Asset depletion income can be combined with other documented income sources on qualifying programs — Social Security income, pension distributions, rental income, part-time employment income, or bank statement income. The combined income is used to calculate DTI. This is common for recently retired borrowers who receive Social Security or pension income but need additional qualifying income from their investment portfolio to reach the required DTI threshold.

Are interest rates higher on asset depletion mortgages?

Yes. Asset depletion mortgages are Non-QM programs and typically carry higher interest rates than conventional, FHA, or VA loans. The rate premium reflects the alternative income documentation and the secondary market for Non-QM loans. For borrowers who cannot qualify under standard income documentation guidelines, the asset depletion rate is the market rate for their qualification method.

What properties are eligible for asset depletion financing?

Asset depletion programs are available for primary residences, second homes, and investment properties on qualifying programs. Single-family homes, condominiums, and qualifying multi-unit properties are typically eligible. Call to confirm eligibility for your specific property type and occupancy.

What documentation is required for an asset depletion mortgage?

Required documentation typically includes 2–3 months of complete statements for all eligible asset accounts, standard identification, and property documentation. No tax returns, W-2s, or pay stubs are required. Retirement account statements must show vested balance. Business account statements are generally not eligible. If combining with other income sources, documentation for those income streams will also be required.

Can asset depletion be used for a refinance?

Yes. Asset depletion income qualification is available for rate-term and cash-out refinances on qualifying programs. Retirees refinancing a primary residence or investment property can use asset depletion when traditional income documentation is insufficient to qualify. LTV limits and program availability vary by occupancy type and lender.

ASSET DEPLETION · FLORIDA

Asset Depletion Loans in Florida

Qualifying income built from your documented savings, investments and retirement accounts instead of a paycheck — for Florida borrowers whose money sits in accounts rather than in employment income. Also called asset utilization.

Florida-licensed mortgage broker · NMLS #3915

Qualifying income built from documented assets, not employment

Manually underwritten — a person reviews your full file

Prefer to talk? Call (352) 580-6160.

Check Your Eligibility

WHO THIS FITS

See whether an asset depletion loan fits your situation

Asset depletion converts documented assets into the qualifying income a mortgage file needs. It is written for borrowers who hold real wealth without the employment income a standard file is built around. Here is who that actually describes.

Which one sounds like you?

“I’m retired and live on savings and investments.”	Your documented accounts can supply the qualifying income. → Asset depletion
“I have substantial accounts but little taxable income.”	Assets take the place of employment income in the calculation. → Asset depletion
“I sold a business and haven’t drawn a salary since.”	No salary needs to exist for the file to work. → Asset depletion
“My deposits show what I earn, even if my tax returns don’t.”	Where deposit history would work, a bank statement program may fit first. → Bank statement
“I’m buying a rental, not a home to live in.”	An investment property is judged by the rent it brings in. → DSCR

Whether you already have a property in mind or are still looking, the next step is the same: the short form above, or (352) 580-6160.

THE QUESTIONS PEOPLE ACTUALLY ASK

The questions that decide asset depletion eligibility

What counts as an asset for qualifying?

Documented accounts you own and can access. Checking, savings and money market accounts, brokerage accounts holding stocks and bonds, and retirement accounts are the usual categories. Each lender decides which of them it counts and how, so the list that matters is the one attached to the program your file is placed with. Assets you cannot document, or cannot reach, generally do not help the file.

Do I need to be at retirement age?

No. Asset depletion turns on what you hold, not on how old you are, and it is used well before retirement. Age matters in one narrow way: retirement accounts are often treated differently depending on whether you have reached the age at which you can draw on them without penalty. Which accounts that applies to, and how they are treated, is set by the lender and confirmed in underwriting.

Can I use this on a manufactured or mobile home?

That depends on the lender and on the home, and it is not worth guessing at. Asset depletion is a way of documenting income, not a property program — whatever the income method, the home still has to meet the lender’s own property rules, and those differ from one asset-based program to the next. Some are written for site-built homes only. Tell us the home and the land arrangement, and Atlantic will confirm it for your specific property before you are far into the process. If the asset route does not reach your home, financing for manufactured and mobile homes is arranged on other programs.

Does this mean spending my savings?

No. The calculation happens on paper. A lender documents what your eligible accounts hold and converts that into a qualifying income figure; it does not ask you to withdraw the money or hand it over. What each lender requires by way of statements, and how long funds must have been held, is that lender’s rule and is confirmed before you sign anything.

HOW IT WORKS

How assets become qualifying income

On a standard file, income is documented, averaged, and measured against your obligations to decide how much you can borrow. An asset depletion program replaces the first step. Instead of documenting what you earn, the lender documents what you hold, then converts eligible account balances into a qualifying income figure that the rest of the file is measured against. Nothing is stated and nothing is estimated — every account used is documented.

The parameters of that conversion — which accounts are eligible, how much of each one counts, and the period a balance is spread across — are set by each lender, not by Atlantic and not by one industry rule. They differ enough from one program to the next that no single set of numbers would describe your file. What Atlantic can tell you is which programs your accounts actually reach, and the figures that apply to your file are confirmed with you in underwriting before you sign anything — no approval is implied until underwriting.

Like every Non-QM program, asset depletion is manually underwritten — a person reviews the complete file rather than an automated system applying one standard rule set.

REQUIREMENTS REFERENCE

Asset depletion requirements reference — Florida

The standing program rules, in one place. Every application is reviewed individually and eligibility is confirmed before you sign anything.

Common to every asset depletion program

Employment income	Not used to build the qualifying figure. Documented assets supply it instead
Accounts commonly counted	Checking, savings and money market accounts, brokerage accounts holding stocks and bonds, and retirement accounts. Each lender sets which of them it counts
Retirement accounts	Often treated differently depending on whether you have reached the age at which you can draw on them without penalty. The treatment is the lender's
How the figure is set	Each lender applies its own formula to eligible balances. The parameters vary from one program to the next and are confirmed in underwriting
Documentation	Statements from the institution holding the assets. What is needed, and how far back, is set by the program
Property type	Set by each lender's own property rules. Some asset-based programs are written for site-built homes only, so the home is confirmed alongside the income method
Occupancy	Set by the program. Both owner-occupied and investment programs use asset-based qualifying, and the rules are not the same
Underwriting	Manual. A person reviews the complete file rather than an automated system applying one standard rule set
Credit	Requirements are set by the lender your file is placed with and are confirmed before you sign anything — no approval is implied until underwriting
Where	Florida properties. Atlantic is a Florida-licensed mortgage broker and arranges financing through licensed wholesale lenders

Is your home manufactured or in a mobile home community?

Then the property question comes before the income question. Some asset-based programs are written for site-built homes only, so the home has to be confirmed alongside the method. It is also the financing Atlantic arranges most often: depending on whether you own the land, the path is land-home financing or a chattel loan for a home in a park or community. Tell us the home and the land arrangement and we can tell you which applies.

Does a different Non-QM program fit better?

Asset depletion is one of five lanes, and the right one depends on what you can document. If your deposits show your earnings, a bank statement program may reach further. If you can document neither income nor deposits, no income verification is the narrower route. For a rental, a DSCR loan is judged by the rent the property brings in rather than by you. As a broker, Atlantic can compare them across lenders rather than fitting you to one desk.

RELATED NON-QM PROGRAMS

The rest of the Non-QM set in Florida

Where the other programs fit

Non-QM Loans	The hub — all five programs for borrowers a standard tax-return file leaves out. Learn more →
Bank Statement Loans	Your deposits replace tax returns. Learn more →
No Income Verification	Credit and reserves, for a home you live in. Learn more →
DSCR Loans	A rental judged by the rent it brings in. Learn more →
Foreign National Loans	For non-US citizens buying Florida property. Learn more →
Manufactured Home Loans	The programs written for manufactured and mobile homes. Learn more →

Not sure asset depletion is the right lane? The Non-QM loan programs overview lays out all five side by side, and if your home is manufactured or mobile, start with manufactured and mobile home financing in Florida instead.

WHY THESE PROGRAMS EXIST

Built for wealth that isn’t a paycheck

Standard underwriting was built around documented, recurring employment income, and it works well for most people. It leaves out a real group: borrowers who have accumulated substantial assets and live on them instead of a salary — retirees, people who have sold a business, borrowers drawing on a portfolio. Their capacity to pay is real and documented. It simply is not a paycheck, and asset depletion programs exist to measure it.

Atlantic is a mortgage broker, not a lender. We arrange financing through licensed wholesale lenders, and no approval is implied until underwriting. Most lenders set their own rules on top of the program minimums. As a broker, Atlantic isn’t tied to one lender — a scenario one lender declines may still qualify with another.

Documented assets in place of employment income

Manually underwritten by a person, not an automated system

Retirement and brokerage accounts may count

FREQUENTLY ASKED

Asset depletion loans in Florida — common questions

How does asset depletion qualify me for a mortgage?

It converts what you hold into the income figure a mortgage file needs. The lender documents your eligible accounts, applies its own formula to those balances, and uses the result as qualifying income in place of a salary. Nothing is stated and nothing is estimated — every account used is documented. The parameters of the calculation belong to the lender and are confirmed with you in underwriting.

Which accounts can I use?

Checking, savings and money market accounts, brokerage accounts holding stocks and bonds, and retirement accounts are the usual categories. Each lender decides which of them it counts and how it treats them, and retirement accounts in particular are often handled differently depending on whether you can draw on them yet. We confirm which of your accounts a given program will use before you are far into the process.

Do I have to be retired to use asset depletion?

No. These programs are used well before retirement by borrowers whose wealth sits in accounts rather than in a paycheck — someone who has sold a business, or who lives on a portfolio. Age matters only where a retirement account’s treatment depends on whether you can draw on it without penalty, and that is set by the lender.

Will I have to liquidate my accounts?

No. Asset-based qualifying is a calculation, not a withdrawal: the lender documents the balances rather than asking you to spend them. Whether funds have to sit in a particular kind of account, or be held for a period before closing, is that lender’s rule and is confirmed before you sign anything.

Can I use asset depletion on a manufactured or mobile home?

That depends on the lender and on the home. Asset depletion is an income method, not a property program, so the home still has to satisfy the lender’s own property rules — and some asset-based programs are written for site-built homes only. Rather than guess, tell us the home and the land arrangement. Atlantic arranges manufactured and mobile home financing on other programs, including land-home financing where you own the land and chattel financing for a home in a park or community.

What credit will I need?

Requirements are set by the lender your file is placed with and they vary by program, so there is no single figure that holds across asset depletion. What is consistent is that a person reviews the whole file rather than an automated system scoring it. We confirm the requirements for your scenario before you sign anything — no approval is implied until underwriting.

Ready to see whether asset depletion fits?

Call (352) 580-6160 or request a callback — most borrowers find out where they stand in one conversation, with no obligation to get started.

Check your asset depletion eligibility

Call (352) 580-6160

No approval is implied until underwriting.

Asset depletion programs, also called asset utilization, are Non-QM programs and are subject to their own guidelines, credit approval, and full underwriting. Qualifying income is calculated from documented assets; which accounts are eligible, how they are treated, the property and occupancy rules, and credit requirements are set by the applicable lender and are subject to change without notice. This is not an offer or commitment to lend. Equal Housing Opportunity. Atlantic Mortgage & Finance Corp. · NMLS #3915 · Licensed Mortgage Broker. For licensing information, go to: www.nmlsconsumeraccess.org.

Michael Dorosko — Ocala Branch Manager · NMLS #22951 · 25+ years in lending.

Atlantic Mortgage & Finance Corp. is not acting on behalf of or at the direction of HUD, FHA, the U.S. Department of Veterans Affairs, the U.S. Department of Agriculture, or any government agency. Program guidelines are subject to change without notice.