Asset Depletion Loans: How to Qualify With Assets and No Income
An asset depletion loan lets you qualify for a mortgage using your liquid assets — with no job or income. Here’s exactly how lenders convert your savings and investments into qualifying income, and who it’s built for.
By the CambridgeHomeLoan.com Lending Team · Updated July 8, 2026
What is an asset depletion loan?
An asset depletion loan — also called an asset qualifier or asset utilization loan — lets you qualify using your liquid assets instead of employment or income. The lender takes your eligible assets and divides them over a set number of months to create a monthly qualifying income.
It’s designed for retirees, high-net-worth borrowers, and anyone whose wealth doesn’t show up as ordinary income. See program terms on our asset only home loan page, or browse all Non-QM programs.
How asset depletion income is calculated
The calculation is simple: net eligible assets ÷ a set period (commonly 60 to 120 months) = monthly qualifying income. Assets used for the down payment and reserves are generally netted out first.
Worked example. You have $2,000,000 in eligible liquid assets. On a 120-month program, that’s $2,000,000 ÷ 120 = $16,667/month of qualifying income — with no job, pay stub, or tax return. That income then supports your mortgage the same way a salary would.
| Method | Net eligible assets ÷ a set period (often 60–120 months) |
|---|---|
| Eligible assets | Checking, savings, brokerage; retirement accounts often at a discount |
| Income needed | None — no employment or income documentation |
| Loan amount | Up to $3,000,000 on qualifying profiles |
| Occupancy | Primary, second home, or investment |
| Can combine | Layer with bank statement or other income where it helps |
Who benefits from asset depletion
Retirees
Qualify on savings and investments without drawing down accounts or showing employment income.
High-net-worth borrowers
Wealth held in brokerage and bank accounts becomes qualifying income — no income docs.
Irregular-income earners
Entrepreneurs and investors between roles whose assets are strong even when income is lumpy.
Asset depletion pros and cons
Pros
No income or employment needed; use existing assets without liquidating them; available for primary, second home, and investment; can combine with other income.
Cons
Requires substantial, seasoned assets; rates run above conventional; retirement funds are often discounted; and strong credit plus documented reserves are expected.
Asset depletion questions, answered
The lender divides your net eligible liquid assets by a set number of months (often 60–120) to create a monthly qualifying income. For example, $2,000,000 ÷ 120 = $16,667/month — with no employment or income documentation.
Typically checking and savings, brokerage/investment accounts, and often retirement accounts at a discount. Funds used for the down payment and reserves are generally netted out first.
No — that’s the purpose of the program. Qualification is based entirely on documented, seasoned assets.
Up to $3 million depending on your eligible assets, the depletion period, credit, and the property.
Yes — it can be layered with bank statement or other documented income when that produces a stronger file.
For home financing, yes — ‘asset depletion,’ ‘asset qualifier,’ ‘asset utilization,’ and ‘asset-based mortgage’ all describe qualifying on assets instead of income.
More Non-QM resources
© 2026 CambridgeHomeLoan.com. Equal Housing Lender. Asset depletion (Non-QM) loans are available for primary, second-home, and investment properties. This article is for general educational purposes only and is not financial, legal, tax, or investment advice. Program terms, rates, and figures are illustrative and subject to change and to underwriting approval. Verify current details for your specific scenario before acting.