“Financing a home with acreage and unconventional retirement income can be overwhelming, but LendFriend Mortgage made the process smooth from beginning to end.
They were always quick to respond, answered every question we had, and explained each step in a way that was easy to understand. We always had direct access to the people actually working on our loan, which made the experience much less stressful.
What really stood out was that even after the loan funded, they continued helping and making sure we understood the next steps. There was never a feeling of ‘the loan closed, good luck.’
We truly appreciated the patience, communication, and support throughout the entire process and would absolutely recommend LendFriend Mortgage, especially for anyone with a unique financial situation or rural property purchase.”
Michigan Asset Depletion Mortgages for Wealthy Homebuyers
Use your assets, not just traditional income, to qualify for a mortgage in Michigan's high-value housing markets. Asset depletion mortgage loans can help high-net-worth borrowers purchase or refinance homes across Detroit, Bloomfield Hills, and Ann Arbor.
How LendFriend Structures Asset Depletion Mortgages in Michigan
Michigan homebuyers come to us with wealth held in auto-industry stock, business equity, family wealth structures, and investment portfolios, and their income often doesn't match the W-2 pattern conventional mortgage underwriting expects. An asset depletion mortgage was built for exactly that profile.
We work with Bloomfield Hills executives, Grosse Pointe families, and Northville business owners. Each gets matched to an asset depletion mortgage, a no income verification mortgage, or a jumbo Non-QM loan that fits how their assets are held.
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Asset Depletion Mortgage Experts
Since 2018, our team has originated over $1.5 billion in mortgages, partnering with the country's leading asset-based lenders to structure flexible financing for Michigan homebuyers and investors.
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No Tax Returns Required
A Michigan asset depletion mortgage works as both a no tax return mortgage and a no doc mortgage. Your asset base does the qualifying, with brokerage accounts, stock portfolios, retirement funds, pensions, annuities, savings, and precious metals all counted toward eligibility.
Up to $10M Loans in Michigan
Asset depletion mortgages in Michigan reach up to $10 million, with jumbo loan options for Bloomfield Hills, Birmingham, and Ann Arbor properties.
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Fast Approvals Across Michigan
Pre-approvals issue in as little as 24 hours, and a Michigan purchase can close in as little as 14 days. As your mortgage broker in Michigan, we move quickly when Detroit, Ann Arbor, or Rochester Hills properties hit the market.
Is a Michigan Asset Depletion Mortgage Right for You?
Michigan wealth concentrates around the auto industry, family-held manufacturing businesses, and old Detroit-suburb professional partnerships. Buyers across these segments often hold real wealth in equity, pensions, and trusts that conventional mortgage underwriting can't read off a W-2. An asset depletion mortgage was built for them.
- Auto industry executives and Tier 1 supplier owners across metro Detroit, with wealth in stock options, deferred comp, dealership equity, and retained company shares
- Bloomfield Hills and Grosse Pointe law, medical, and finance partners compensated through partnership distributions, carry, and K-1 income rather than salary
- Family-business owners and second-generation operators holding wealth in closely-held Michigan corporations and S-corp distributions
- Northern Michigan second-home buyers from Harbor Springs and Petoskey to Charlevoix and Glen Arbor, with wealth in brokerage accounts and family trusts
- Michigan retirees living on auto-industry pensions, 401(k) draws, and investment portfolios across Birmingham, Ann Arbor, and Grand Rapids
When your wealth is real but your W-2 doesn't reflect it, an asset depletion mortgage gives you a path to a Michigan home loan based on the asset side of your balance sheet. No pay stubs. No tax returns. No conventional employment documentation.
Across Michigan's wealth markets, from Bloomfield Hills and Birmingham to Grosse Pointe Farms, Ann Arbor, and Harbor Springs, LendFriend Mortgage builds asset depletion mortgages and jumbo Non-QM loans around portfolios, business equity, and trust-held wealth.
What Michigan Buyers Gain From an Asset Depletion Mortgage
An asset depletion mortgage in Michigan means buying a home without selling investments. Your wealth stays invested, and the mortgage closes on the strength of the portfolio you've already built.
- Qualification on your portfolio, not your paystub. No W2s, tax returns, or traditional income paperwork in underwriting. The asset base is what gets reviewed.
- Loans up to $10M+ on Michigan properties. Most asset depletion mortgages reach $10M, with jumbo asset depletion loans going higher for the right portfolio.
- Coverage across Michigan's top markets. Primary residences, second homes, and investment properties all qualify.
- Closings on a shorter timeline. Asset-focused underwriting cuts the documentation burden that slows conventional mortgages.
- Investments stay invested. You won't have to sell positions or trigger avoidable tax events to fund a down payment.
Get an Asset Depletion Loan Rate Quote
The Michigan Buyer Profile for an Asset Depletion Mortgage
Many Michigan buyers carry significant investment portfolios alongside compensation that doesn't fit a standard W-2 pattern. Conventional underwriting struggles with that mismatch. A Michigan asset depletion mortgage solves it by qualifying you on the portfolio itself.
Michigan's high-net-worth buyer base spans Oakland County corridors like Bloomfield Hills and Birmingham, the historic Grosse Pointes east of Detroit, and Ann Arbor's academic and tech wealth. Asset depletion mortgages qualify these buyers on portfolio strength rather than W-2 income.
Michigan asset depletion mortgages are a strong fit for:
- Executives paid through stock vesting, RSUs, or partnership distributions
- Founders, business owners, and self-employed professionals with substantial business equity
- Retirees and relocating buyers bringing substantial liquid wealth into Michigan
Above the conforming limit, the divisor a lender uses decides how large a jumbo asset depletion loan in the Detroit suburbs can be. We run that calculation before a Birmingham offer or a Bloomfield Hills cash-out refinance goes forward.
With a Michigan asset depletion mortgage, your real net worth qualifies you for the loan, and your portfolio stays fully invested.
Asset Depletion Options Beyond Michigan
Many of our Michigan clients own property across the state line, and the qualification method goes with them. A family splitting time between Bloomfield Hills and Toledo or Columbus can finance the second home with an Ohio asset depletion loan on the same portfolio. Chicago-area buyers who summer in New Buffalo or Harbor Springs can qualify for Illinois asset depletion loans on the North Shore residence with the same statements.
Winter homes work the same way. Detroit-area retirees who spend the season in Naples or Bonita Springs can close on a Florida asset depletion loan without selling a position to fund it. Executives moving from the auto industry to Nashville can rely on a Tennessee asset depletion loan with the same eligible assets and reserve requirements.
Relocations run in both directions. An executive leaving Auburn Hills for Dallas or Austin can qualify for a Texas asset depletion loan on the same accounts. A family moving between Grosse Pointe and Bergen County can finance the next home with a New Jersey asset depletion loan drawn from the same portfolio. Buyers heading west to Orange County or the Bay Area can qualify through a California asset depletion loan using the same statements.
Whether the purchase stays in Oakland County or reaches a second home in another state where LendFriend is licensed, we settle the financing before an offer goes in.
How Michigan Buyers Qualify for an Asset Depletion Mortgage on Assets Alone
Our team has guided Michigan homebuyers through every step of the asset depletion process, with deep familiarity in Fannie Mae, Freddie Mac, and Non-QM lending guidelines.
Step 1: Identify Your Eligible Assets
We begin by reviewing the assets that can be used for qualification. This typically includes checking and savings accounts, CDs, brokerage accounts, stocks, bonds, mutual funds, IRAs, and 401(k)s. In certain cases, real estate holdings or business equity may also be included, depending on the program.
Step 2: Apply Asset Valuation
Lenders do not use the full value of every asset. Instead, they apply a conservative percentage to account for liquidity and market volatility, converting your total holdings into a stable and verifiable income base for underwriting purposes.
Step 3: Convert Assets Into Monthly Income
Your eligible assets are divided over a standard term, typically 60 to 120 months, to produce a monthly qualifying income. That income drives your debt-to-income ratio and loan eligibility, allowing you to qualify without W-2s, pay stubs, or tax returns.
Asset Depletion Loans We’ve Closed for Michigan Borrowers
From Birmingham and Orchard Lake purchases to Bloomfield Hills and Grosse Pointe homeowners pulling equity out to diversify and fund retirement, we help Michigan borrowers use their investments, retirement accounts, and other eligible assets to qualify when tax returns do not tell the full story. Here are a few examples of how we structure these loans, with identifying details changed for privacy.
Birmingham Buyer Finances $3M Home
An executive who sold his stake in an automotive supplier wanted a $3M home in Birmingham without paying cash and liquidating the invested proceeds. We used the brokerage accounts left after closing as qualifying income. He put $650,000 down and financed the balance with the portfolio intact.
Orchard Lake Buyer Keeps Liquidity on a $5M Waterfront Home
A buyer purchasing a $5M home on Orchard Lake could have paid cash but did not want to sell investments to do it. We tested the down payment against the assets left to qualify and used the portfolio as income. She closed with $1.8M down and a $3.2M mortgage.
Bloomfield Hills Homeowner Pulls $1.3M Out to Diversify
A Bloomfield Hills homeowner with a $3.5M home and a $1.1M mortgage wanted cash out to diversify beyond the property. We used his eligible investments as qualifying income for the larger payment. The refinance closed at $2.5M with roughly $1.3M in proceeds.
Grosse Pointe Shores Retiree Completes $1.4M Cash-Out Refinance
A retired couple in Grosse Pointe Shores wanted to replace a $400,000 mortgage on their $2.6M home with a $1.4M loan to fund retirement. Pension income alone fell short, so we used their IRAs and brokerage portfolio as qualifying income. They closed with roughly $1M in proceeds.
Stronger Negotiating Position when Buying a Home
The equity in your current home is unlocked and used as a downpayment on your new home; meaning no sales contingency required! Sellers HATE sales contingencies. Without a sales contingency, your offer is stronger, increasing your chances of buying your next home with ease.
Get the Highest and Best Sale Price
Without feeling pressured to sell quickly, you can wait for the best offer on your current home. List your home at the best time, market it effectively, and attract more competitive offers. With no rush, you can negotiate better terms and get the highest selling price.
Reduced Stress
Don't worry about finding temporary housing or organizing multiple moves. Avoid the chaos of having to coordinate the sale of your current home and the purchase of a new one. Transition seamlessly from one home to another and reduce stress or anxiety, making the moving process more manageable and organized.
Time for Improvements
Make necessary renovations or updates to your new property before you move in. Painting, remodeling, or other improvements would be more challenging if you were already living there. Moving into a freshly updated home (instead of living in it during renovations) is just so much nicer!
Take the Next Step on Your Michigan Asset Depletion Mortgage
Connect with LendFriend and start your mortgage approval.
See Why Asset Depletion Borrowers Choose LendFriend Mortgage
See how retirees, investors, and borrowers with substantial assets have worked with LendFriend Mortgage to qualify for a home without relying solely on traditional employment income.
“The team did a great job from start to finish. It was a pleasure working with them.”
“I had a phenomenal experience working with Eric, Morgan, and Crystal at LendFriend and cannot recommend them enough. They helped me secure a 30 year fixed rate mortgage enabling me to purchase an amazing home for my family.
I reached out through their website contact form on a Saturday night, and Eric connected with me the very next morning (Sunday) to discuss asset depletion mortgages and my goals.
Eric called regularly with updates on potential lenders, rates, and more. It was an amazing experience from start to finish and I truly felt they would move heaven and earth to get me the financing I needed.
Thank you, Eric, Morgan, Crystal, and the entire LendFriend team!”
“My husband just retired and we are officially snowbirds thanks to Lend Friend. We just bought a winter home in Boca. Everyone was so lovely to work with. Eric, Crystal and Morgan answered all our questions and made sure we were comfortable from start to finish.
Im so excited for all my grandchildren to visit me during the holidays.”
“I’m in early retirement and currently have no traditional income, and I needed a loan to purchase a new home. I assumed getting financing under those circumstances was going to be extremely difficult, if not impossible.
LendFriend made what seemed impossible surprisingly simple. They understood my situation, found a way to make the loan work, and most importantly, got everything closed on time.”
“For the past two years I have been contemplating buying a home. I was referred to Lendfriend mortgage and when I say the experience from start to finish was an awesome experience. The WHOLE TEAM was there for me.
The Professionalism and support was truly unbeatable. 100% recommending Lendfriends mortgage.”
5/5 Star Reviews on Google, Zillow, and Experience.
See How Much Mortgage Your Assets Could Support
Use our Asset Depletion Mortgage Calculator to estimate how your savings, investment accounts, retirement funds, and other eligible assets could be used to qualify for a mortgage without relying entirely on traditional income.
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FAQs
What assets qualify for a Michigan asset depletion mortgage?
Michigan asset depletion underwriting accepts brokerage accounts, savings, CDs, stocks, bonds, cryptocurrency, mutual funds, IRAs, 401(k)s, and precious metals. Real estate equity and business holdings can also count under certain programs.
Can I qualify for a Michigan mortgage without W-2 income?
Yes. A Michigan asset depletion mortgage qualifies you on your assets rather than your W-2 income. Eligibility comes from verified investment and retirement holdings.
How does Michigan asset depletion convert assets into qualifying income?
Your eligible assets get divided over a fixed term, usually 60 to 120 months, to produce a monthly income figure. That figure drives your debt-to-income calculation and underwriting approval.
Can I use an asset depletion mortgage for a vacation home outside Michigan?
Yes. The portfolio that qualifies a Michigan purchase may also qualify a second home elsewhere. Detroit-area families who vacation on Hilton Head Island or Kiawah Island may close on a South Carolina asset depletion loan. Skiers buying in Aspen or Breckenridge may use a Colorado asset depletion loan with the same eligible assets.
What credit score does a Michigan asset depletion mortgage require?
Credit score matters a lot for Michigan asset depletion programs, regardless of how strong your asset position is. Most lenders accept a minimum credit score of 680, but you really want a score above 700 to access the best rates. The higher your score, the better the pricing you can qualify for.
What's the maximum loan amount for a Michigan asset depletion mortgage?
Michigan asset depletion mortgages typically reach up to $10M for high-net-worth borrowers, with the exact ceiling tied to portfolio size, property type, and lender program. Jumbo Non-QM structures can go higher for the right borrower.
Do I have to sell investments to qualify for a Michigan asset depletion mortgage?
No. The lender uses your balances only to calculate a qualifying income figure, and the accounts stay fully invested through closing. You do not withdraw the calculated income each month or move money to prove it.
Are asset depletion mortgages available for Grosse Pointe or Bloomfield Hills estates?
Yes. Michigan asset depletion mortgages finance Bloomfield Hills, Birmingham, and Grosse Pointe estates. These properties qualify on the same asset-based criteria as homes across Michigan.
Can I use a Michigan asset depletion mortgage for a Northern Michigan summer home in Harbor Springs or Charlevoix?
Yes. Northern Michigan resort markets, including Harbor Springs, Charlevoix, and Traverse City, are eligible for Michigan asset depletion mortgages. These markets see strong summer-home demand from Detroit metro and Chicago HNW buyers.
Can I use crypto as an asset for a Michigan asset depletion mortgage?
Yes. Eligible Bitcoin and Ethereum holdings can be used in certain crypto mortgage programs as part of an asset depletion calculation. The lender assigns an eligible value to your crypto and converts it into monthly qualifying income, allowing you to qualify without selling or pledging your digital assets as collateral. A Michigan crypto mortgage can also combine eligible crypto with stocks, retirement accounts, cash, and other qualifying assets to support your mortgage approval. Crypto-heavy borrowers in Michigan financing a multimillion-dollar home usually qualify through a jumbo crypto mortgage.
Why Work With a HNW Mortgage Broker Who Understands Asset-Based Lending?
At LendFriend Mortgage, we're more than a lender. We're your trusted HNW mortgage broker, dedicated to helping you qualify for the right asset-backed loan without the burden of traditional documentation. As a top-tier asset-based mortgage lender, we specialize in mortgages for high-net-worth individuals who prefer flexible solutions such as asset depletion loans and non-QM mortgages.
Our user-friendly tech and transparent process make it easy to compare loan options, get pre-approved, and close quickly.
Around the Clock
We're available 7 days a week, 365 days a year to help you compare rates, explore asset-based lending options, and move forward confidently, whether you're buying, refinancing, or upgrading.
Asset-Based Mortgage Solutions for High-Net-Worth Borrowers
Our asset depletion mortgage programs let you qualify on the strength of your assets rather than traditional income, so you can secure the home you want without compromise or delay.
Get Pre-Approved Quickly
Apply online to get pre-approved for an asset-based loan in minutes. It’s the fastest way to strengthen your offer and move forward with confidence.
Competitive Rates with No Hidden Fees
We help you secure competitive asset depletion loans with fair, transparent pricing. No junk fees, no unnecessary points, just financing that reflects your financial strength.
Personalized Mortgage Guidance
You’ll work one-on-one with a dedicated mortgage expert who specializes in asset-based loans and will guide you through the best-fit programs based on your net worth and financial strategy.
Close in just 3 Weeks
Our process is built for speed. Most asset-based loans and non-QM mortgage products can close in just 3 weeks, often faster than conventional financing.
Learn More About Asset Depletion Loans
Our Learning Center gives you access to everything you need to know about asset depletion loans, including how lenders calculate qualifying income from your assets, which accounts may be eligible, how asset depletion compares with other retirement loan options, and how these programs can be used when buying a home or refinancing an existing mortgage. Read some of our favorite articles below.
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Other Non-QM Mortgage Solutions for Michigan Borrowers
An asset depletion mortgage is one option among several. LendFriend Mortgage can match Michigan borrowers to another Non-QM loan through more than 40 wholesale lenders.
No-Ratio Loans
No debt-to-income ratio is calculated. The approval is based on credit, equity, reserves, and mortgage history, for primary residences only.
Bank Statement Loans
A bank statement loan qualifies business owners in Birmingham, Troy, and Grand Rapids on 12 or 24 months of deposits instead of tax-return income.
DSCR Loans
With a DSCR loan, a Michigan investment property qualifies on its rental income, and no tax returns or W-2s are required.