NON-QM · ASSET-BASED
Asset Depletion Loans in Florida
Qualify using your savings and investments instead of a paycheck — a fit for retirees, early retirees and people with significant assets but irregular income.
OVERVIEW
Your assets can count as income
An asset depletion loan (also called asset utilization) lets a lender turn eligible liquid assets into a monthly income figure for qualifying. The lender takes the qualifying balance of accounts such as checking, savings, brokerage and some retirement accounts, applies any required discounts, and divides it over a set number of months. The number of months and the discounts vary by lender and program.
It’s commonly used by Florida retirees and by buyers who sold a business or property and have substantial savings but little W-2 or pension income. It can be used on its own or combined with other income.
At a glance
- No employment or W-2 income required with some programs
- Uses checking, savings, brokerage and some retirement funds
- Primary homes, second homes and investment properties
- Can combine with Social Security, pension or other income
KEY FEATURES
How it works
How assets are counted
Lenders typically count most of your cash and brokerage balances and a reduced share of retirement funds. Assets used for your down payment and reserves are subtracted first.
Documentation
Expect recent statements for each account (often two to twelve months) to show the funds are seasoned and in your name.
Reserves
Non-QM lenders usually require several months of payments left in reserve after closing.
Pricing
Because these loans aren’t backed by Fannie Mae or Freddie Mac, pricing and down payment requirements are generally higher than conventional loans.
GENERAL GUIDELINES
Is it a fit?
Who it’s a good fit for
- Retired or semi-retired buyers
- Buyers with large savings but irregular income
- Recent business or property sellers
- Investors with strong liquid reserves
Things to know
- Assets must be liquid or accessible and in your name
- Retirement accounts may count at a reduced percentage
- Requirements vary widely by lender
- Alex compares Non-QM lenders to find the best fit
Guidelines vary by lender and change over time. Alex will review your specific situation against current program rules.
Run your numbers first
Use the Income Qualification Calculator to see how much monthly income a lender would need to see. Then tap Check My Options and Alex will confirm real figures for your situation.
FAQ
Common questions
Do I need a job to qualify?
Not always. Some asset depletion programs qualify you on assets alone, while others combine assets with other income. Alex will match you to the right program.
Can I use my retirement accounts?
Often yes, though lenders may count only part of the balance and may have age or access requirements.
Is this a Non-QM loan?
Yes. Asset depletion loans are Non-QM, which means they follow lender guidelines rather than Fannie Mae, Freddie Mac or government rules.
GET STARTED
See what you may qualify for
Share a few details and Alex will follow up personally to review your options — usually the same business day. No obligation, and requesting information does not affect your credit.
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Not a commitment to lend. Not all applicants qualify. Programs, rates, terms and availability may change without notice. All loans are subject to credit, income, asset and property approval. Non-QM loans are not agency or government loans and may have different rates, terms and requirements. H. Alex El-Ali, NMLS #1513750, FL LO125697 | NEXA Mortgage, LLC, NMLS #1660690. Equal Housing Lender.
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