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Wealth without a paycheck

Asset depletion mortgage: when your money is real but your 'income' isn't.

You've saved for thirty years, sold a business, or built a portfolio — and a lender says you don't earn enough to buy a house. An asset depletion loan converts what you own into qualifying income, on paper, without touching a dollar of it.

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No SSN. No credit pull. Alejandra Glass, NMLS #1008649.

The retiree's paradox, solved

Traditional underwriting wants a paycheck. A retiree with a seven-figure portfolio and a deliberately modest draw can look “poorer” to a bank than a junior employee with a salary — an obviously absurd result. Asset depletion (also called asset dissipation or asset-based qualifying) fixes it: eligible liquid assets are divided by a program-defined term, and the quotient becomes monthly qualifying income. Your money stays invested. Nothing is pledged. The math simply recognizes what's already true — you can pay for the house.

  • No employment or paycheck required — the portfolio is the income.
  • Nothing liquidated or locked up — a calculation, not a lien on your accounts.
  • Combinable with Social Security, pension or other income.
  • Purchase or refinance, including right-sizing into a new San Antonio home.

Why the lender choice matters more here than anywhere

Programs disagree about almost everything in this product: which divisor to use, how hard to discount securities, whether retirement funds count before a certain age, how recent a windfall can be. Two lenders can read the identical portfolio and produce qualifying incomes thousands of dollars apart. This is a placement product — and placement is precisely what a broker does. I match the shape of your assets to the program that reads them most generously.

Common San Antonio scenario: military retirees combining a pension with decades of TSP savings. The pension alone may not carry the payment the house needs — the pension plus asset-derived income from the TSP often does. If that's your situation, it's a fifteen-minute conversation to find out.

Neighbors on the non-QM shelf

Asset depletion lives in the same family as bank statement loans for the self-employed and DSCR loans for rental property — the non-QM programs built for borrowers whose finances are strong but non-standard. If your situation mixes categories (a business sale and rental income, say), the right answer may combine tools.

Find out what your portfolio qualifies for

Start with the two-minute pre-approval — no SSN, no credit pull — and note that you'd like to qualify on assets. I'll run the numbers across the programs I have and show you the spread.

Common questions

Asset Depletion Loans — straight answers

How does asset depletion calculate my income?

The lender takes your eligible liquid assets and divides them by a set term — often the loan term in months, sometimes a fixed divisor the program defines — and treats the result as monthly qualifying income. Different programs use meaningfully different divisors, which is why the same portfolio can qualify for very different amounts depending on where the file goes.

Do I have to actually spend or move my assets?

No. Nothing is liquidated, pledged or escrowed. The calculation is a paper exercise to demonstrate ability to repay — your accounts stay yours, invested however you like. You're proving capacity, not surrendering funds.

Which assets count?

Checking, savings, money market, and investment accounts generally count, with stocks and bonds typically taken at a discount to their balance. Retirement accounts often count too, with conditions — commonly a haircut, and some programs weigh whether you're of retirement age. Business accounts and recent large deposits get looked at case by case.

Who is an asset depletion loan actually for?

Retirees with strong portfolios but modest fixed income, people who just sold a business or received an inheritance, and high-net-worth borrowers whose wealth doesn't arrive as a paycheck. The pattern is the same: plenty of money, 'not enough income' on paper.

Can asset depletion be combined with other income?

Yes — many programs let asset-derived income supplement Social Security, pensions, or part-time earnings rather than replace them. That combination is often what moves a marginal approval to a comfortable one.

Let’s see what you qualify for.

Two minutes, no SSN, no credit pull — and I review every one personally.

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