Asset-Rich, Income-Light? Qualify on What You've Built.
Asset depletion loans let high-net-worth borrowers convert liquid savings, investment, and retirement accounts into qualifying income — even with little or no employment income. A self-employed mortgage for borrowers whose balance sheet, not their paycheck, tells the story.
Assets — No Job Needed
Income Docs
10%
Min. Down Payment
620
Min. Credit Score
$3M+
Max Loan Amount
What is an asset depletion loan?
An asset depletion loan is a non-QM mortgage that qualifies you by converting your liquid assets into a monthly income figure, instead of relying on a paycheck. The lender totals your eligible assets — savings, brokerage, and retirement accounts — and divides them over a set number of months per program guidelines to produce qualifying income. No employment income is required, and you don't liquidate anything. It's built for asset-rich, income-light borrowers in Oregon and California.
Best for: Retirees, investors, and high-net-worth borrowers who are asset-rich but have little documentable employment income.
Assets
Qualifies On
Not Required
Employment Income
10%
Min. Down Payment
620
Min. Credit Score
$3M+
Max Loan Amount
Overview
A Self-Employed Mortgage Built on Your Assets
Some borrowers have substantial wealth but little documentable income — retirees living off savings, founders between ventures, investors whose returns aren't "income" on a pay stub, or business owners who keep taxable income low by design. Conventional underwriting struggles with all of them. An asset depletion loan solves it by converting your liquid assets into a qualifying income stream, so your balance sheet does the work your paycheck can't.
This is a non-QM (alternative-documentation) program in our broader self-employed mortgage suite. We total your eligible liquid assets — checking and savings, brokerage and investment accounts, and (with program-specific treatment) retirement funds — and divide them over a set number of months per program guidelines to produce monthly qualifying income. No employment income is required. It overlaps closely with our IRA and retirement-account qualifying programs, and we'll point you to whichever framework produces the strongest result.
Asset depletion can be used on its own or layered with other income to push qualifying power higher. We lend to asset-rich borrowers throughout Oregon and California, and we'll model your eligible assets and the resulting qualifying income before you shop — so you know your purchasing power up front. You can also estimate your qualifying income with our assets-as-income calculator, which compares our 36- and 60-month programs against the Fannie Mae calculation side by side, or read our full guide on how asset depletion works in Oregon and California.
Who This Is For
Asset Depletion Loans — Serving Oregon and California's Asset-Rich Borrowers
From retirees and investors to founders between ventures, we help asset-rich, income-light borrowers across Oregon and California turn their balance sheet into buying power — without liquidating a thing. Share your asset picture and we'll model your qualifying income across every program before you shop for a home.
Key Features
What Makes This Program Work
Turn Assets Into Qualifying Income
We total your eligible liquid assets and divide them over a set number of months per program guidelines to create a monthly qualifying income — no job, pay stubs, or employment income required.
Multiple Assets-as-Income Programs
We compare three methods on the same assets: our 36-month portfolio program (assets ÷ 36, retirement at 100% if of retirement age), our 60-month portfolio program (total assets ÷ 60), and the Fannie Mae employment-related assets calculation — then use whichever qualifies you for the most. Model all three in our assets-as-income calculator.
Broad Range of Eligible Accounts
Checking and savings, brokerage and investment accounts, and retirement funds (with program-specific treatment and any applicable discounts) can all count toward your asset base.
Use Alone or Layer With Income
Asset depletion can stand on its own or combine with other documentable income — W-2, 1099, or business income — to maximize the loan amount you qualify for.
Down Payments From 10%
Qualified borrowers can purchase with as little as 10% down, with loan amounts from $150,000 up to $3,000,000+ — well suited to higher-value Oregon and California homes.
No Liquidation Required
Qualifying on your assets doesn't mean spending them. The calculation is a paper exercise to establish income — your accounts stay invested and working for you.
Specialists in Complex Wealth Profiles
Trust accounts, deferred comp, concentrated equity positions, and retirement-heavy balance sheets are exactly what this program is for. You'll work with someone who understands asset-based qualifying, not a W-2 checklist.
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Interactive Tool
Assets as Income Calculator
Turn your savings, investment, and retirement accounts into qualifying income — and compare our two portfolio programs side by side with the Fannie Mae calculation. Enter your balances to see qualifying monthly and annual income for each method instantly. Want the full breakdown and FAQs? Open the full calculator page.
Assets as Income Calculator
Portfolio programs vs. the Fannie Mae calculation
Your assets
The 36-month program counts retirement at 100% if of retirement age, 90% if not. This also removes the Fannie Mae early-withdrawal penalty.
Qualifying income by method
Lumen 36-Month Program
HighestPortfolio · assets ÷ 36
$22,222/mo
Qualifying monthly income
$800,000 eligible ÷ 36 (retirement at 90%)
Lumen 60-Month Program
Portfolio · assets ÷ 60
$14,167/mo
Qualifying monthly income
$850,000 ÷ 60
Fannie Mae
Employment-related assets
$2,083/mo
Qualifying monthly income
($850,000 − $50,000 penalty − $50,000 closing) ÷ 360
This is an estimate, not a commitment to lend or an approval. The Fannie Mae figures follow the Employment-Related Assets as Qualifying Income method: net eligible assets, less any early-distribution penalty and less funds needed for down payment, closing costs, and reserves, divided by the loan term in months. Fannie Mae limits eligible assets (checking and savings generally do not count unless sourced from an eligible employment-related asset; stock options, non-vested stock, inheritance, lawsuit and real-estate-sale proceeds, and virtual currency are excluded) and is available only on purchase and limited cash-out refinances of a primary residence or second home, at 70% LTV (80% if the asset owner is 62+ at closing). Our 36-month and 60-month portfolio programs use their own eligibility rules, and final qualifying income is determined by the underwriter after a full review. Actual results depend on program guidelines, credit, LTV, reserves, property type, and pricing. Lumen Mortgage · NMLS #1498678 · Licensed in Oregon & California. Equal Housing Lender.
Requirements
General Qualifications
Ready to See If You Qualify?
Every borrower's situation is unique. Give us 15 minutes and we'll review your financial picture, identify every program you qualify for, and walk you through your options — at no cost and with no obligation.
Licensed in Oregon & California · NMLS #1498678
Related Programs
Self-Employed Mortgage Loans
The full hub of alternative-documentation programs for business owners and the self-employed — bank statement, 1099, P&L, and more.
IRA & Retirement-Account Loans
Asset-based qualifying focused specifically on retirement funds — often compared side-by-side with asset depletion.
P&L-Only Loans
Own a profitable business? Qualify on a CPA-prepared profit & loss statement instead of, or alongside, your assets.
DSCR Investment Loans
Buying a rental? Qualify on the property's cash flow with no personal income or asset documentation at all.
Crypto Mortgage
Hold Bitcoin, Ethereum, or stablecoins? Qualify on your digital assets — no forced sale of your position to qualify.
Interactive Tool
Asset Depletion Loans Payment Calculator
Estimate your monthly principal & interest, total interest paid, and amortization schedule. Adjust purchase price, down payment, rate, and term to model your scenario before you talk to a lender.
Mortgage Calculator
Estimate your monthly payment instantly
Estimated Monthly Payment
$4,258/mo
Loan Amount
$750,000
Interest Rate
5.499%
*Estimate only. Actual costs may vary.
FAQ
Common Questions
Side-by-Side Comparison
How Does Asset Depletion Loans Compare?
Compare key requirements, costs, and features at a glance — so you can choose the right loan for your situation.
Asset Depletion vs. Bank Statement vs. Conventional
Asset-rich borrower in Oregon or California
| Asset Depletion | Bank Statement | Conventional | |
|---|---|---|---|
| Qualifies On | Liquid assets | Bank deposits | Employment income |
| Employment Income Required | No | Self-employment income | Yes |
| Tax Returns Required | No | No | Yes |
| Income Basis | Eligible assets ÷ set months | Averaged deposits | Net taxable income |
| Liquidate Assets? | No — paper calculation | N/A | N/A |
| Min. Down Payment | 10% | 10% | 3% |
| Best For | Retirees & high-net-worth | Self-employed owners | W-2 borrowers |
Related Guides
Understand the Fundamentals
From the Blog
Further Reading
Self-EmployedAsset Depletion Loans in Oregon and California: How to Turn Savings, Investments, and Retirement Into Mortgage-Qualifying Income (2026)
Asset-rich but income-light? An asset depletion loan converts your savings, investments, and retirement accounts into qualifying income — no job, paycheck, or tax returns required. Here's how the three calculation methods work, and why the same borrower can qualify for wildly different loan amounts depending on which one a lender uses.
Self-EmployedHow to Qualify for a Mortgage in Retirement — Without Taking Taxable Distributions (Oregon & California, 2026)
You can qualify for a mortgage in retirement using your savings, investments, and retirement accounts — without starting a single taxable distribution. Here's how Oregon and California lenders actually convert assets, Social Security, and pensions into qualifying income, why the widely repeated numbers (the 70% "discount" and the 25% Social Security gross-up) are wrong, and why the timing of your application relative to your retirement date matters more than almost anything else.
Self-EmployedHow IRA Loans Helped Two Oregon Borrowers Qualify When Tax Returns Couldn't
An IRA loan uses your retirement balance — divided by 36 months — as qualifying income. No distributions required, no age restrictions. Here are two real Oregon scenarios where this program closed the gap: a newly retired Tigard couple buying without triggering taxable distributions, and a recently self-employed Oregon City borrower qualifying without two years of returns.
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