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 Conforming Loan amounts up to $647,200 | FHA Loan Limits are specific to each Florida County
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Asset Depletion Mortgage

Asset Depletion Mortgage Loan

If you have a lot of assets, but make little-to-no income, an asset depletion loan may be for you. Asset Depletion loans are also known as “asset based mortgages”. Some people even refer to them as “no income, high asset loans”.  

How Asset Depletion Loans Work

To calculate the total amount of your assets, you can use 100% of what is in liquid (such as bank accounts) if borrowers are 59.5 and older.

The retirement funds are calculated at 50% of face value if borrowers are less than 59.5 years old.

Asset Depletion Loan Program Details:

  • No employment, no income, no Debt to Income
  • Primary Residence:
    • Up to 85% LTV for Purchase
    • Up to 80% for R/T Refinances
    • Up to 70% LTV for Cash-Out Refinances
    • Investment Properties and Second Homes:
      • Up to 80% LTV for Purchase
      • Up to 75% for R/T Refinances
      • Up to 70% LTV for Cash-Out Refinances
    • 680 Minimum Score
    • 5 Years seasoning foreclosure, short sale or bankruptcy
    • Loans up to $5 million (minimum loan $200,000)
    • No 4506 / IRS Tax Transcripts required
    • Primary, Secondary and Investment Properties allowed 
    • Non-warrantable condos considered
    • Asset Depletion Income can be coupled with other income
    • Dividends and interest earned from assets used in the calculator cannot be used to qualify
    • All collateral types are allowed
    • All assets eligible for the program at 100% face value if borrowers are 59.5 and older
    • Retirement funds are calculated at 50% of face value if borrowers are less than 59.5 years old
    • Assets held in annuities and cash value of life insurance policies are ineligible for the asset depletion program

    The following assets are considered eligible and can be utilized to calculate income:

    • 100% of checking, savings, money market accounts, and cd’s
    • 100% of the value of stocks (must be fully vested) & bonds
    • 100% of retirement assets (if borrower is not of retirement age of 59.5, then reduced value to 50%)
    • If you are unsure about a particular asset, email us.
    Down payment, closing costs, and reserves if applicable must be excluded from the balance before calculating income.


    Ineligible Assets

    • Business funds; Foreign Assets; No Gift funds; Gift of equity; Sale of a personal assets

    Monthly income is: Total Assets divided by 120 


    Frequently Asked Questions

    What type of assets may be used to qualify?
    You may use any of the following assets: bank accounts (checking or savings), money market accounts, a CD (certificate of deposit), investment accounts (such as stocks, bonds, and mutual funds), and retirement accounts (such as a 401k or IRA).

    Must I be a certain age to be eligible, or are there any certain age restrictions?
    No, there are not any age requirements to be eligible.  There are two potential ways that your loan application may be dealt with differently though, based on your age.  The first is if you are over the age of 59.5, you should be able to use 100% face value.  The second potential scenario is if you are younger (under age 59.5), may you use your retirement accounts as eligible assets at 50% of the face value.  

    Are these mortgages available for investment properties?

    What if my assets / accounts are jointly owned?
    If you have joint ownership of bank accounts or other assets, commonly this will not be an issue. There is a chance that an underwriter may reduce the amount of the assets that are eligible. It will be left to the underwriter to decide. 

    Are asset qualifier loans available for jumbo loans?
    Yes, jumbo financing is available.

    Is it possible to get an interest only mortgage with an asset qualifier loan?
    No, not at this time.

    Can I finance a home with an asset qualifier loan using a corporation name?
    Yes, you may vest title in any type of corporate entity, such as an LLC, trust, partnership, or S corporation.

    What types of properties are eligible for asset qualifier loans?
    You may finance the purchase of any single family residence, 2-4 unit property, condominium, condotel, or co-op (cooperative housing).

    What is the minimum down payment possible with an asset qualifier program?
    The minimum down payment is 20%, which is an LTV of 80%.

    Is mortgage insurance required on an asset qualifier loan?
    No, mortgage insurance is not required, since the LTV is below 80%.

    Is it ok if I am not employed and/or retired?
    Yes, there is no requirement that you be currently employed.  In terms of showing your ability to repay the mortgage, you can qualify exclusively using your assets.

    When your ready to get started on your asset qualifier / asset depletion loan, we are experts to guide you through the entire process, the first step is getting you pre-approved. You can click on the button below or apply online; if you prefer to speak with one of our Mortgage Experts, we would be happy to speak with you at 407-955-4575.

    Asset Depletion Mortgage


    Copyright © 2022 Fidelity Home Group supports Equal Housing Opportunity | All Right Reserved  | NMLS Identifier 1834853. Fidelity Home Group is not affiliated with the Department of Housing and Urban Development (HUD) or the Federal Housing Administration (FHA). Fidelity Home Group is a Mortgage Corporation serving the state of Florida. Not intended for legal or financial advice, consult your own professionals if such advice is sought. This site is not authorized by the New York State Department of Financial Services. No mortgage loan applications for properties in the state of New York will be accepted through this site. Accessibility Statement  | Consent to Receive Electronic Loan Documents  |  Cookies Policy   |  Disclosures  | Email and Mobile PolicyFair Lending Policy  |  File a Complaint Mortgage Assumptions  |  NMLS Consumer Access  |  Privacy Policy  |  Terms of Use 

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    Fidelity Home Group
    4700 Millenia Blvd Suite 175, Orlando, FL 32839

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