Asset depletion calculator: see what your assets qualify you for
If you have savings and investments but not much income on paper, we can turn your assets into a monthly income figure and qualify you on that.
Our Non-QM Asset Depletion program divides your eligible assets by 60 months, however, not all assets are counted the same and this calculator can help you figure this out. This calculator was created with real life lender guidelines – not with just a simple elementary math equation.
Put your numbers in below and you’ll see the income figure, the loan it supports, and — the part nobody else shows you — exactly which requirement is holding you back.
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What the number actually means
The figure at the top is not a rate quote and it’s not an approval. It’s the monthly income a lender will credit you with based on what you own — the same way they’d credit a salary.
From there, everything works like a normal mortgage: that income has to cover the new house payment plus your other debts, and the loan has to fit within the equity guidelines for your credit score.
You don’t spend the assets. Nothing gets liquidated, nothing gets pledged, no account gets frozen. The lender is only proving you could pay the mortgage from what you already have. The money stays yours and keeps earning.
Why we show you the potential constraints
Most calculators hand you one number and stop. That’s the least useful part. If your result is lower than you expected, the fix is almost never “have more money” — it’s usually something specific and often fixable: too much of your net worth is tied up in the down payment, or your retirement funds are getting discounted because of your age, or your credit band is capping how much you can borrow against the home.
Naming which one is binding is the difference between a dead end and a next step.
Use this calculator to help you get more educated about this program. However, let us take the guessing out of the equation and we’ll help you with real answers if you are ready. Start with Mortgage Match ->
Why the "divisor" matters more than almost anything else
The method is always the same shape: take your eligible assets, divide by some number of months, call the answer your monthly income. What changes wildly — from one lender to the next, for the exact same person on the exact same day — is that number of months.
On $2 million in eligible assets, that spread runs from roughly $33,300 a month down to about $5,600 — a six-fold difference driven entirely by which door you walked through. Same borrower. Same money. Same week.
This is the honest argument for using a broker on this program. We’re not going to tell you we get you a better rate by magic. We’re telling you that the qualifying math itself is different depending on where the file goes, and knowing which lenders use which divisor is our job, not yours.
The biggest number isn't necessarily the best deal - it might just be the one to get you further.
We’d rather say this plainly than let you find out later. Non-QM produces the largest figure by a wide margin, but it costs more in rate every month for as long as you hold the loan. If a Freddie or Fannie structure gets you the house you actually want, that’s usually the better outcome even though the headline is smaller.
Where Non-QM earns its keep is when the agencies simply can’t get you there — you’re under 62 with most of your wealth outside retirement accounts, you’re buying a rental, or you need cash out. Our job is to run all three and tell you which one wins your file, not to sell you the biggest number.
Non-QM, Fannie Mae and Freddie Mac all do this — very differently
Asset depletion isn’t one program. There are three, they use different divisors, and they disagree about which of your accounts even counts. Take someone at 63 with $500,000 in cash, $700,000 in a brokerage account and $800,000 in retirement, buying with $225,000 down:
Non-QM asset qualifier
a month · assets ÷ 60
Counts everything — cash, brokerage, retirement. No employment test, no age test, no requirement that the money came from a job. It also handles cash-out, second homes and two-to-four units, which neither agency program will.
The catch: Non-QM pricing sits above conventional, and you’ll usually need more down
Freddie Mac
a month · assets ÷ 240
Conventional pricing, up to 80% of the home’s value. Retirement accounts count at any age. Your cash and brokerage only count once an account owner turns 62.
The catch: purchase or no-cash-out refinance only, primary or second home, one or two units. Before 62 the same file drops to about $2,300.
Fannie Mae
a month · assets ÷ the loan term
The narrowest of the three, and the one people misread most often. Only employment-related money counts: retirement accounts, or a severance or lump-sum retirement payout. A checking balance or a taxable brokerage account doesn’t qualify at all unless it came from one of those.
The catch: spread over the full loan term, so usually 360 months instead of 60.
Nineteen times the qualifying income from the same accounts on the same afternoon. That’s not a loophole — it’s three sets of rules written for three different purposes, and the one you’re shown depends entirely on who you walk into.
Which accounts count, and how much of each
Not every dollar counts the same. Cash counts fully; retirement money gets discounted because getting at it early costs you. Here’s how the typical Non-QM program treats each type.
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Commonly eligible for a conventional loan
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Usually not eligible for conventional
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What you should you know
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|---|---|---|
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Checking, savings, money market, CDs
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100%
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The cleanest assets in the file
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Publicly traded stocks, bonds, mutual funds
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100%
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Based on the remaining balance, not what you paid
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Retirement accounts, under 59½
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70%-80%
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The discount covers early-withdrawal cost
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Retirement accounts, 59½ and over
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Up to 100% but may vary with lenders
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One of the few birthdays with a dollar value attached
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Business accounts
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Generally not allowed
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Usually needs to move to a personal account first
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Trust accounts
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On a case by case basis
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Generally needs immediate, unrestricted access
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Foreign accounts
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Accepted at some lenders
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Expect translation and currency conversion
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This is the short version — the full list runs to dozens of visa and permit types. If you don’t see yours, or you’re not sure which column it lands in, look it up: see the full mortgage eligibility list by visa type →
Your down payment comes out before the math, not after
Here’s the trap no one talks about. Someone has $1 million in the bank, sees the ÷60 formula, and figures on roughly $16,600 a month in qualifying income. Then they put $250,000 down on the house, pay $30,000 in closing costs, and need six months of payments in reserve.
The lender doesn’t divide $1 million. It divides what’s left after all of that — which might be closer to $690,000, or about $11,500 a month. That’s a third of the qualifying income gone, and the borrower never saw it coming because every article online skips this step.
Our asset depletion calculator helps you understand where the numbers come from when you plug in your asset mix.
What this means in practice
A bigger down payment can make you qualify for less, not more. It’s counterintuitive and it catches people constantly. Sometimes the right move is putting less down and keeping the assets working for you on the qualifying side.
The number that matters
When we talk about “eligible assets” we mean what’s left after the down payment, the closing costs and the required reserves come out. Not your net worth. Not your account balance. The leftover.
What this calculator can't tell you
This calculator is a great tool – not just because we built it, but because we do these loans day in and day out and we are using actual lender underwriting guidelines.
But with that being said:
Your rate
We’re not going to guess at it on a web page.
Pricing on this program isn’t displayed publically and it moves with your credit, your equity and the lender we place you with. You’ll get a real number on a call, not an estimate designed to make the page look good.
Which lender fits you
The divisor, the retirement discount and the minimum balance rules all move between lenders. Matching your file to the one whose rules favor your situation is the actual work, and it isn’t something a form can do.
Whether you are approved or not
Nothing here is a commitment to lend. It’s a well-informed estimate built from current wholesale guidelines, and it’s meant to tell you whether this is worth a conversation.
Your best loan
If you also run a business or take 1099 income, assets may not even be your strongest door. Bank statements or 1099 income sometimes qualify the same person for more. That’s a comparison worth running before you commit.
If a bank has told you no while you were sitting on seven figures but no income, this is why
Retail lenders, banks and credit unions qualify people on paychecks.
When there isn’t one, the file dies — regardless of what’s in the accounts. These are the people this program was designed for.
Retirees
Social Security and a pension don’t stretch to the house you want, but the portfolio easily does. Asset income can stack on top of what you already receive.
Business owners after an exit
You sold, the proceeds landed, and your last two tax returns look nothing like your actual position. Assets sidestep the tax-return problem entirely.
Anyone whose income is lumpy
Investors, consultants, people between ventures, families living off a portfolio. If the money is real but irregular, this program doesn’t care how it arrives.
Where to go next
How Asset Depletion loans work
The full guide: the formula, the eligibility rules, and how the three names for this program differ.
Non-QM loans
Assets are one door of several. See how bank statement, 1099 and P&L programs compare.
Buying a rental instead?
If the property pays for itself, a DSCR loan may qualify you without touching your personal income at all.
How we built the numbers on this page
Andes Mortgage is a broker. We work from current wholesale lender guidelines across multiple Non-QM investors, and everything on this page is a synthesis of those documents — never a single lender’s program presented as a market rule.
- Qualifying income is eligible assets divided by 60 months, the standard corroborated across every wholesale source in our set. The 84-month figure is published openly by a national Non-QM lender; 360 months reflects agency-style asset depletion.
- Cash, CDs and money market accounts count at 100%. Publicly traded stocks, bonds and mutual funds count at 100% of current value. Retirement accounts count at 70–80% under age 59½, with some lenders allowing up to 100% at 59½ and older.
- Down payment, closing costs and required reserves are removed from the balance before the division. This is corroborated across sources and is the single most common reason a result comes in lower than expected.
- Debt-to-income typically caps around 50%, extending to roughly 55% with stronger credit near 740. Maximum loan-to-value on a one-unit primary purchase typically runs 65–80% by credit tier, 60–75% on cash-out, and 50–70% on 2–4 units.
- Some programs set a minimum eligible-asset floor — expressed either as a multiple of the loan amount or a flat balance, and always measured after the down payment, costs and reserves come out. Where lenders disagree, we say so on the page rather than picking a side.
Written by Marcos Zambrano, President of Andes Mortgage · NMLS #988935 · mortgage professional since 2013. Program terms and eligibility vary by lender and are subject to change without notice. Figures shown are typical market ranges as of the date above, not a commitment to lend. Andes Mortgage LLC, NMLS #2187991. Equal Housing Lender.
The questions people actually ask
How asset depletion is calculated
Take your eligible assets, subtract the down payment, closing costs and any required reserves, then divide what’s left by 60 months. That answer is the monthly income the lender credits you with. Cash and brokerage accounts usually count in full; retirement accounts count at 70–80% if you’re under 59½.
Do I have to sell or cash out my investments?
No. Nothing is liquidated, pledged or frozen. The lender is documenting that you could cover the mortgage from what you hold. Your accounts stay invested and stay yours.
How much do I need in assets to qualify
There’s no single market minimum. Some programs set a floor — either a multiple of your loan amount or a flat balance — and it’s always measured after the down payment, costs and reserves come out. That’s why someone who “has a million” can still fall short. Run your figures in the calculator above; if the minimum is what’s binding, it’ll say so.
Can I combine assets with social security, pension or other income?
Usually yes, and for retirees that’s often the strongest structure. Some lenders cap how much of your total qualifying income can come from assets when it’s a supplement rather than the sole source — and a few waive their minimum asset test in that scenario. Worth confirming before you build a plan on it.
Why does turning 59.5 change my numbers?
Before 59½, pulling from a retirement account carries an early-withdrawal penalty, so lenders discount those balances — typically to 70–80%. Once you’re past it, some lenders will count up to the full balance. If you’re close to that birthday and most of your money sits in retirement accounts, the timing is worth a conversation.
Is this the same thing as an asset qualifier loan?
Close enough that the terms get used interchangeably, but not identical. “Asset utilization” is the method — assets converted to monthly income. “Asset qualifier” is usually a named program built around that method with no employment and no tax returns. “Asset depletion” is the umbrella term most people search. The label matters less than the mechanic: ask whether your assets are being turned into income for a debt-to-income calculation, or added to rental cash flow on an investment loan. Those are different loans.
Do I need a job or tax returns?
Neither. That’s the point of the program. No employment verification, no tax returns, no 4506-C. Lenders document the assets, your credit and the property instead.
Find out which loan fits your status in a few minutes
Answer a few quick questions and we’ll point you to the right path and the loans that fit — no credit pull, no obligation. Hablamos español.
Owner & mortgage broker, Andes Mortgage LLC · NMLS #988935
- Guidelines last verified: July 2026 · reviewed quarterly
Andes Mortgage provides mortgage guidance only, not immigration, legal, or tax advice. Figures shown are typical ranges from current wholesale lending guidelines as of the date above — not a single lender’s terms and not a commitment to lend. Program terms and eligibility vary by lender and are subject to change without notice. Andes Mortgage LLC · NMLS #2187991 · Equal Housing Lender.