Asset Utilization
The portfolio is the paycheck.
No job, no 1099s, no tax returns that make sense of you — just money you already have. These programs divide what you own into a monthly income and lend against it. Nothing gets liquidated, nothing gets pledged, and one version never even asks what you do for a living. The strongest published version reaches 90% of the home’s value.*
Who this is built for
Retirees with savings and no salary
The couple with a paid-off past, a seven-figure account, and a bank that says they have no income. This is the program that reads the account instead.
People who just sold something big
A business, a building, a portfolio. The proceeds are the income now — after a short seasoning period, they qualify you.
High-net-worth buyers who dislike paperwork
One version states no employment and no income on the application at all. The assets answer every question the file would have asked.
Anyone whose income is real but undocumentable
When deposits fit better, the bank-statement page covers that route; when 1099s fit better, that page exists too. This one is for when the money is already sitting still.
Send the balances — screenshots are fine — and I will run both programs’ schedules against them. You will know the qualifying income before anyone pulls credit.
Run my numbersTwo philosophies wearing one name
What you own, divided by sixty, is what you earn — on one of these programs. The other never calls it income at all.
Two structurally different programs get called “asset depletion.” Knowing which one you are in decides what the file looks like:
The qualifier route is the quiet one: for a buyer whose situation resists explanation — complex entities, irregular liquidity events, privacy preferences — a file that never states an income cannot misstate one.
| Asset utilization | Assets become income | The ÷60 math. The application shows an income; the assets are its source. Can be combined with pensions, Social Security or other income at some lenders. |
| Asset qualifier | No income stated at all | Employment and income are simply not disclosed. The assets must instead cover the loan, the closing and five years of obligations — with a monthly residual left over. |
| Neither one touches the money | No liquidation, no pledge | The accounts are verified, not encumbered. You keep control, keep the upside, and keep the money where it is. |
Program structures vary by lender and change without notice. Residual and coverage requirements are eligibility criteria of the programs described. Not all applicants will qualify.
How it actually works
On the classic structure, sixty is the number: what you own, divided by sixty, is what you earn. The reach route runs its own divisors — its pane says so.
Your accounts get counted — with haircuts
Liquid money counts fully. Brokerage and retirement accounts count at a discount that varies by lender and by your age. The haircut schedules are exact, and they have their own tab.
What you spend at closing comes off first
Down payment, closing costs and reserves are subtracted from the portfolio before anything is divided. The income is computed on what remains.
The remainder divides by 60
That is your monthly qualifying income. $720,000 left after closing becomes $12,000 a month — with no employer, no W-2 and no tax return in the file.
Then it is a normal mortgage
Credit, appraisal, title, closing. The income line is the only thing unusual about the file — and it is the most verifiable income a program ever sees.
The leverage, and the haircuts
Three tables decide an asset file: how far the reach route goes, what the classic ÷60 structure holds, and how much of your portfolio actually counts once each program applies its discounts. Each tab is a single program’s grid, and figures from different programs never combine.
One program lets asset income ride its full grid — the only shelf we hold where a portfolio reaches ninety. Primary residence, purchase and rate-and-term:
| Credit score | Maximum financing | Condition |
|---|---|---|
| 720 and above | 90% | To $2 million — above 85%, the debt ratio must hold at 50% or better |
| 700 and above | 85% | To $1.5 million |
| 680 and above | 80% | To $2 million |
| 660 and above | 80% | To $1 million |
| 720 and above | 80% | To $3 million — the same grid, carried out to a larger balance |
| 700 and above | 75% | To $3.5 million — the top of this program’s ladder |
| 680 and above | 70% | To $3 million |
| 660 and above | 70% | To $2.5 million |
The reach comes with its own arithmetic, and it cuts both ways. When other documented income already carries the file — a pension, rents, a salary — qualified assets divide by thirty-six, nearly twice the monthly income per dollar of the classic sixty. When the portfolio is the whole story, the divisor is eighty-four — deeper than the classic. So the reach pane and the ÷60 pane genuinely trade against each other: strong supplemental income favors this grid; a pure portfolio file often computes MORE income next door at a lower cap. The grid runs to $3.5 million at 75%, and that is a computed choice, not an assumed one.
From a single program’s published matrices effective 08/03/2026 — its flagship grid, on which asset-utilization income is eligible above 85% financing when the debt ratio holds at 50% or lower, with the divisor rules as stated in the same book. Figures from different programs never combine. Maximum financing, credit score and loan amount are separate limits shown only in combinations printed together in the source. Not all applicants will qualify.
The classic structure divides by sixty — and caps its financing in exchange for a friendlier floor and the simplest math on the page:
| The measure | The figure | Condition |
|---|---|---|
| Maximum financing | 80% | Utilization and qualifier alike — from a 660 credit score, to $1 million |
| The same 660 score, further out | 75% | To $2 million — and 70% to $2.5 million |
| At 700 and above | 80% | To $2 million — 75% to $2.5 million, 70% to $3 million |
| Debt ratio | 43% — or none | The utilization route holds 43%; the qualifier states no income, so no ratio applies at all — and a separate consumer program states no income whatever the assets, on its own page |
| Securities count at | 70% | Stocks, bonds and funds — and retirement accounts, once 59½ and separated from service |
| Retirement under 59½ | 50% | The deepest haircut on this pane — the age line moves portfolios |
| The same 80%, further out | To $2.5 million | A separate alt-doc program holds the same ceiling from a 680 score at a much larger balance — and 75% out to $3 million |
| That program’s floor | 70% | A 640 credit score, out to $2 million — the lowest score published for this document on my shelf |
Eighty percent from a 660 score, on money alone, is its own kind of reach — sixty points of credit room below where the reach pane starts paying attention, and a separate program holds that same eighty out to two and a half million dollars. The ÷60 example from above lives here: $720,000 after closing costs and reserves is $12,000 a month. And the qualifier route carries a quiet advantage: because no income is ever stated, no reserve requirement applies to it on this program.
From a single program’s underwriting guide effective 07/10/2026: asset utilization at maximum 80% financing from a 660 score with a 43% ratio cap; the no-income-stated asset qualifier at the same 80% maximum with no ratio, and no reserve requirement on that route. Haircut schedule as printed in the same guide. The final row is a separate program’s alt-doc matrix, Rev 06/16/2026, on which asset utilization is a listed income type with no leverage overlay: 80% financing from a 680 score to $2,500,000. Figures from different programs never combine. Not all applicants will qualify.
The ÷60 divisor is corroborated by a third program whose asset schedule counts more of a brokerage account. Their percentages:
| Asset type | Counts at | Their condition |
|---|---|---|
| Checking, savings, money market | 100% | Seasoned four months, statements within 60 days of closing |
| Stocks, bonds, mutual funds | 100% | The full remaining value — where the classic pane counts 70% |
| Retirement, if you are 59½ or older | 100% | Fully counted at this program |
| Retirement, under 59½ | 70% | Against the classic pane’s 50% — the age line is where portfolios swing |
Read those against the classic pane’s schedule and the point makes itself: the same $1.5 million portfolio computes to a different income at each program — sometimes by thousands of dollars a month, entirely on the brokerage and retirement lines. This is a route you shop, not one you assume. Their guardrails: eligible assets must total at least the lesser of $1,000,000 or 150% of the loan; everything seasons four months; a single deposit larger than half the resulting monthly income gets sourced like a down payment would; and gift funds cannot be the income — the money must be yours.
Representative of a second program’s underwriting guidelines, revision 06/01/2026, and shown separately because figures from two programs never combine. Asset percentages, minimums and seasoning are that program’s current requirements and change without notice. Not all applicants will qualify.
Qualifying on the rent a property collects instead? That page is here →
* Strongest published asset-utilization rung on my current shelf: a single program’s matrices effective 08/03/2026 — 90% financing to $2,000,000, purchase or rate-and-term, primary residence, from a 720 credit score, with the debt ratio holding at 50% or better. Figures from different programs never combine; programs change without notice. Not all applicants will qualify.
The fine print that decides asset files
What you actually hand over
Account statements
Recent — dated within 60 days of closing at one program — and covering enough history to show four months of seasoning.
Paper for anything unusual
A large recent deposit gets a paper trail: the closing statement from the sale, the wire receipt, the rollover confirmation.
Nothing about a job
On the utilization route, other income you want counted is documented normally. On the qualifier route, employment and income are not stated at all.
The normal file
Photo ID, housing history, and the property side — appraisal, title, insurance — exactly as any mortgage.
Want the exact list for your file before you ever apply? Build your document checklist — the list changes with your answers, printable and yours to keep.
Where it wins — and the honest limits
Told straight, because this page is useless otherwise.
The assets stay invested and stay yours. Nothing has to be liquidated to create the income the file needs — the calculation reads the balance, not a sale.
Retired, between ventures, or living on investments: there is no job for an underwriter to call, and the program does not need one.
One structure turns assets into an income figure; the other never calls it income at all. A file rejected by the logic of one can fit the other.
At some lenders the calculated figure sits alongside a pension, Social Security or other income rather than replacing it — which is how most retired files actually look.
Divided by sixty, $300,000 is $5,000 a month — before subtracting what the purchase itself consumes. This route rewards large, still portfolios; it cannot conjure income from modest ones.
Under 59½, retirement accounts take the deepest haircuts — 50% at one program, 70% at the other. The same account counts fully a few years later. Timing is sometimes the whole answer.
Four months of seasoning at one program. A wire from abroad or a business sale last week qualifies you four statements from now, not today.
Same honest line as the whole alt-doc family: the file costs more than a W-2 file. What it buys is a yes built on the strongest evidence there is — money that already exists.
Find out what your portfolio qualifies for
Send me the statements — even screenshots of balances — and I will run both published schedules and both program structures against them. You will know the qualifying income under each before anyone pulls credit.
Questions people actually ask
Open the full Q&A — the divisor, the haircuts, and what counts as seasoned ▾
+How much do I actually need?
Two floors matter. One program requires eligible assets of at least the lesser of $1,000,000 or 150% of the loan. And the arithmetic has its own floor: after subtracting the down payment, closing costs and reserves, what remains divides by 60 — so the portfolio must be large enough that the remainder produces the income your file needs. A precise answer takes ten minutes with real statements.
+Do I have to sell or move my investments?
No — that is the entire point. The accounts are verified and counted, not liquidated, pledged or frozen. Your money stays invested, in your name, under your control. Programs that require pledging assets to the lender exist in private banking; this is not that.
+I’m 57. Do my retirement accounts count?
At a discount. Under 59½, one program counts retirement at 50%, the other at 70% — and past 59½ (separated from service), the counts rise to 70% and 100% respectively. If you are close to the line, the difference is sometimes worth more than any rate conversation.
+Can I combine this with Social Security or a pension?
On the utilization route at one program, yes — the ÷60 income stacks with other documented income. On the no-income-stated qualifier route, no: nothing else may appear beside it, by design.
+Does money from overseas work?
Not where it sits — one program excludes foreign accounts entirely. Once wired to a U.S. account it becomes eligible after seasoning, which runs four months at the second program. Planning the transfer early is the difference between qualifying now and qualifying in the spring.
+What if I just sold my business or a property?
The proceeds qualify once they are seasoned and papered — the closing statement is the source document for the deposit. Sale proceeds are among the most common inputs on these files. The four-month clock is the only real constraint.
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Loan programs, explained honestly
Programs described are offered through third-party lenders, are subject to lender approval and full underwriting, and change without notice. Asset eligibility schedules, minimums, seasoning periods, residual requirements, leverage caps, credit minimums and loan amounts are separate limits, vary by lender and program, and are never available in combination across programs. Figures reflect three separately published programs’ current materials, each cited beside the table, footnote or section it supports. Not all applicants or properties will qualify. This is not a commitment to lend. Equal Housing Opportunity.