Best Mortgage Lenders for Asset Depletion Loans in 2026

Having enough money to buy a home and qualifying for a mortgage should go hand in hand. For retirees, business owners and investors with substantial assets but limited qualifying income, the mortgage process can tell a different story. A strong balance sheet does not help much when a lender only wants to talk about pay stubs.

Asset depletion mortgages give those borrowers another way to qualify. The challenge is choosing a lender whose guidelines recognize the assets they hold without unnecessarily limiting the loan amount or increasing the cost. This comparison covers 5 mortgage companies worth considering, what separates their approaches and how to evaluate the options.

What Is an Asset Depletion Mortgage?

An asset depletion mortgage allows a borrower to qualify using eligible assets instead of relying entirely on employment income or tax returns. The lender calculates a monthly qualifying income figure from those assets, then uses that figure to evaluate the proposed mortgage payment and other debts.

Despite the name, asset depletion generally does not mean setting up monthly withdrawals or spending down an investment account. The calculation is an underwriting tool. Borrowers still make their mortgage payments from the funds available to them, and assets needed for the down payment and closing costs must be accessible.

Cash, taxable brokerage accounts and eligible retirement accounts can all play a role, depending on the program. A lender may count cash at its full value while applying a discount to stocks or retirement funds. Account access, ownership and funds already committed to the transaction also affect the calculation.

These loans are sometimes marketed as “no income mortgage loans,” but the borrower still has to qualify. Credit, debts, property eligibility, down payment and reserves remain part of the approval.

What Makes a Good Asset Depletion Lender?

The best asset depletion lender is the one that offers a competitive mortgage using the assets the borrower has. A lender advertising asset-based financing may still have guidelines that produce too little qualifying income for the purchase or refinance.

Before comparing rates, borrowers should understand how each lender handles the following:

• Eligible assets and discounts. A $2 million portfolio does not automatically produce $2 million in eligible assets. The lender’s treatment of stocks, retirement accounts and restricted funds determines how much enters the calculation.
• The calculation period. Dividing assets over fewer months produces more qualifying monthly income. A longer calculation period can significantly reduce borrowing power, even when the account balances are identical.
• Down payment and reserves. Funds needed for closing are generally removed from the available asset pool. Reserve requirements and the treatment of those reserves also vary by program.
• Loan purpose and property type. Purchase financing, cash-out refinancing and second-home financing may have different requirements. Confirm the program supports the transaction before comparing its advertised features.
• Rates and total fees. A lower rate with substantial discount points may cost more than another option over the borrower’s expected holding period. Compare quotes using the same loan amount, down payment and lock period.

The goal is to find the strongest combination of qualification and cost. A generous asset calculation is valuable, but it should be evaluated alongside the mortgage’s terms.

Best Asset Depletion Mortgage Lenders: Quick Comparison

The companies below represent different ways to access asset-based mortgage financing. LendFriend is a mortgage broker, while the other options include retail lenders, a bank and a wholesale mortgage lender.

LendFriend Mortgage: Best for Comparing Multiple Programs

LendFriend Mortgage is one of the best asset depletion mortgage options for borrowers with substantial wealth who want access to multiple lending programs. As a mortgage broker, LendFriend compares asset depletion programs across wholesale lenders to find the right combination of qualifying income, loan amount, rates and fees.

This is especially valuable for retirees, business owners and investors whose tax returns do not reflect their ability to afford a mortgage. One lender may discount a brokerage account heavily or spread eligible assets over 360 months. Another may recognize more of those assets or use a 60-month calculation. LendFriend evaluates those differences before placing the loan, helping borrowers avoid an unnecessarily small approval or a more expensive mortgage.

LendFriend Mortgage is a strong fit for:

• $1 million+ mortgages. Borrowers purchasing higher-value homes can compare jumbo asset depletion loan options across lenders with different asset calculations and loan amount requirements.
• Retirees with substantial savings. Eligible retirement and investment accounts can support qualification when Social Security, pension income or existing distributions are insufficient.
• Business owners with limited taxable income. Borrowers with significant personal assets can explore qualification without relying entirely on tax returns that reflect business deductions and uneven earnings.
• Investors with large brokerage accounts. Eligible stocks, bonds and other investments may help establish qualifying income without requiring the entire portfolio to be liquidated.
• Asset depletion cash-out refinances. Homeowners can explore accessing equity while using eligible assets to support qualification for the new mortgage.
• Second-home purchases. Borrowers can compare programs that allow a vacation home while accounting for the existing housing payment and funds needed after closing.
• Borrowers with multiple asset types. A combination of cash, brokerage accounts and retirement funds requires a lender whose guidelines recognize the available assets appropriately.

For borrowers exploring asset depletion financing in Texas, Illinois, New Jersey and other LendFriend-licensed markets, this approach provides more ways to structure the mortgage. The team compares asset eligibility, calculation periods, reserves, down payment requirements and pricing around the borrower’s transaction.

Why LendFriend Mortgage Stands Out

LendFriend looks beyond whether a lender offers asset depletion loans. The team evaluates how that lender’s program will work with the borrower’s accounts, proposed mortgage and plans for the remaining capital.

Some borrowers want to preserve investments while purchasing a home. Others want to access equity in retirement, qualify after selling a business or buy a second home without increasing retirement-account distributions solely to satisfy a lender. Each situation calls for a different comparison of qualification requirements, upfront cash and monthly payment.

A larger down payment, for example, reduces the mortgage balance but also leaves fewer assets available for the income calculation. A lower rate may come with substantial discount points. A lender that accepts retirement assets may still apply restrictions that change the approval. LendFriend helps borrowers evaluate those tradeoffs together.

Eric Bernstein brings more than a decade of mortgage experience to that process. Combined with access to multiple wholesale lenders, that experience helps the team identify a workable structure early and address documentation requirements before they delay closing. Borrowers get a mortgage strategy built around their finances, with competing programs evaluated by one team.

CrossCountry Mortgage: A Large Retail Lender to Compare

CrossCountry Mortgage offers a broad mortgage platform that includes nontraditional qualification options. Borrowers who prefer working with a large mortgage company may want to include it in their comparison.

The useful question is how its available asset-based program handles the borrower’s specific accounts. A broad product menu can help when there is more than one possible qualification path, but company size alone does not establish how much of a portfolio will count.

Borrowers should ask the assigned loan officer to calculate qualifying income before relying on a proposed loan amount. They should also confirm the team’s experience with similar asset-based transactions and compare the resulting quote with other available options.

Best fit: Borrowers who value a large retail lender and have an asset profile that fits its available programs. The decision should rest on the proposed calculation and terms, rather than the size of the company.

Angel Oak Mortgage Solutions: A Specialized Non-QM Option

Angel Oak Mortgage Solutions focuses on Non-QM financing, making it relevant for borrowers whose finances do not fit traditional income requirements. Its programs are typically accessed through mortgage brokers and other approved mortgage professionals.

For asset-rich borrowers, the important distinction is which qualification method applies. An asset depletion program that converts assets into monthly income and an asset qualifier program that evaluates assets against specified financial requirements should not be treated as interchangeable.

Borrowers should have their mortgage professional explain the applicable calculation, eligible accounts, funds required after closing and available loan terms. Specialized financing still has specific guidelines, and matching the file to the correct program is what makes that flexibility useful.

Best fit: Borrowers exploring Non-QM asset-based financing through an experienced mortgage professional. Compare the applicable Angel Oak program against other wholesale options using the same financial information and transaction details.

North American Savings Bank: A Bank-Based Option

North American Savings Bank, commonly called NASB, belongs in the comparison for borrowers considering asset depletion financing through a bank. Retirees and borrowers with investment assets should focus on how its calculation treats their particular accounts.

An IRA, a 401(k) and a taxable brokerage account can receive different treatment. Access restrictions, asset discounts and the calculation period may all affect the result, so borrowers should request a breakdown showing which balances count and how qualifying income is determined.

A bank-based option can work well when its program aligns with the borrower’s financial profile. It should still be compared with other programs rather than assumed to offer the most favorable treatment of retirement assets.

Best fit: Borrowers who prefer a bank relationship and whose eligible assets satisfy the available program. The deciding factors are the calculated income, required liquidity and total mortgage cost.

New American Funding: Another Retail Option to Evaluate

New American Funding is another mortgage company to consider when comparing asset-based financing with other qualification methods. Borrowers should confirm the current program available for their state, property and loan amount before moving forward.

Files involving multiple accounts, recent transfers or changes in investment holdings need a clear documentation plan. The lender should explain what statements and supporting records it requires, along with how those assets will be evaluated.

Human review does not eliminate program requirements. Borrowers should ask for the qualification method and asset calculation upfront instead of assuming that a detailed explanation of their finances will overcome a program restriction.

Best fit: Borrowers who want another retail mortgage option to compare. Evaluate the specific proposal, the team handling the file and the documentation requirements alongside competing quotes.

How the Calculation Changes Your Approval

Consider a borrower with $1.5 million in net eligible assets after the applicable discounts and deductions. Holding that balance constant shows how much the calculation period alone can change qualifying income.

These are illustrative calculations, not quotes or promises of program availability. They isolate one variable so borrowers can see why the formula deserves attention.

The 60-month calculation produces six times the monthly qualifying income of the 360-month calculation. The borrower has not added money to an account, changed jobs or paid off debt. The lender’s formula changed the result.

The final loan amount also depends on the interest rate, property taxes, insurance, other debts and permitted debt-to-income ratio. A lender should show how those pieces fit together before presenting a borrowing limit. Using an asset depletion calculator can help you understand your eligibility before talking to a mortgage lender.

Asset Depletion for Purchases and Cash-Out Refinances

For a home purchase, the central planning issue is how much remains available for qualification after the down payment and closing costs. A buyer with a $2 million portfolio cannot assume the entire balance will count while also using part of it to close.

A borrower exploring asset depletion financing in California, for example, may have enough invested wealth to support a substantial mortgage but limited salary income. Comparing calculations can help determine a workable down payment without requiring the buyer to pay cash for the property.

LendFriend helped an Austin business owner purchase a $1.8 million home with a $1.3 million mortgage using asset depletion. The borrower’s ownership interests and K-1 income made traditional qualification difficult, while eligible assets provided another path. The loan closed in under 30 days, illustrating how asset depletion financing in Texas can address a qualification problem without waiting for another tax year.

Cash-out refinancing presents a different objective: accessing home equity while qualifying with existing assets. LendFriend also helped a Boca Raton homeowner refinance a property valued at approximately $4 million into a $2.5 million mortgage, producing approximately $1.5 million in proceeds before closing costs and adjustments. For borrowers considering asset depletion loans in Florida, the existing mortgage balance, eligible assets and cash-out requirements all shape the available structure.

How These Mortgage Companies Were Selected

This comparison focuses on access to asset-based financing, differences in lending models and the questions borrowers need answered before choosing a program. It is published by LendFriend Mortgage, and LendFriend’s placement reflects the value of comparing multiple lenders through a broker.

The comparison is not a rate survey or a guarantee that one company will approve every borrower. The strongest choice depends on the borrower’s asset mix, credit, property, requested loan amount and available terms.

Frequently Asked Questions

Do I have to sell my investments?

Generally, asset depletion qualification does not require liquidating the entire portfolio or establishing monthly withdrawals. Borrowers still need accessible funds for the down payment and closing costs, and the lender must accept the assets used in the calculation.

Can retirement accounts count?

Eligible retirement accounts can count under certain programs. The usable amount depends on the lender’s rules, account access and any applicable discounts or withdrawal restrictions.

Can I qualify without employment income?

Yes, a program may allow sufficient qualifying income to be calculated from eligible assets without employment income. The resulting calculation still must support the mortgage payment and other obligations under the lender’s requirements.

Can asset depletion finance a second home or cash-out refinance?

Programs may allow second-home financing and cash-out refinancing, but availability and requirements vary. Confirm the intended transaction at the beginning because a purchase approval does not establish eligibility for every other loan purpose.

Why Working With a Mortgage Broker Matters

Asset depletion lending rewards comparison. A borrower can receive a smaller approval from one lender simply because its formula recognizes less of the available wealth.

A mortgage broker can evaluate different calculations alongside rates, fees and documentation requirements. The value is practical: identifying which lender can support the transaction at competitive terms before the borrower spends weeks pursuing the wrong program.

Why Work With LendFriend Mortgage

LendFriend combines access to multiple lenders with experience helping retirees, business owners and investors qualify using assets. The team evaluates the account structure, funds needed for closing and intended loan purpose together.

For a purchase, that means building a financing plan around the home and the borrower’s available capital. For a refinance, it means comparing the requested proceeds, new payment and closing costs so the loan serves a defined financial objective.

The Bottom Line

A limited paycheck does not erase a substantial balance sheet. Asset depletion mortgages can make homeownership and refinancing possible when traditional income documentation does not reflect the borrower’s financial position.

The next step is to compare what lenders will recognize, how they calculate income and what the mortgage will cost. Schedule a call with LendFriend Mortgage or complete this quick form to review the assets and financing options available for your transaction.