Asset-Based Qualification
Qualify on your assets, not your income — no employment required.
Built for retirees, near-retirees, and asset-rich borrowers with substantial savings or investments but little documentable monthly income.
You've built real wealth — a strong brokerage account, retirement savings, cash from selling a business — but your monthly income on paper is modest. Maybe you're retired, between ventures, or living off investments. Conventional underwriting keeps asking for a paycheck you don't have, even though you could write a check for the house today.
Asset-based qualification flips the question from "how much do you earn?" to "how much do you have?" The lender converts your eligible assets into a qualifying income figure, so your balance sheet does the talking. No employment is required.
July 2026 Update
July 2026 update: asset-based (asset-depletion) qualification remains available for primary residences and is a natural fit for the wave of self-directed and early retirees. Eligible account types continue to include checking, savings, stocks, bonds, and retirement accounts such as 401(k)s and IRAs.
Investors apply haircuts to certain assets — retirement and market-based accounts are typically counted at less than face value to account for volatility and access — so your usable figure is more conservative than your statement balance. Program availability and guidelines are subject to change without notice.
Program at a glance
The real guideline parameters for this program. Guidelines subject to change without notice.
How qualifying works
How asset-based income is calculated
The lender totals your eligible assets and divides by 60 months to produce a monthly qualifying income figure. So $1,200,000 in eligible assets, for example, converts to $20,000 a month of qualifying income for underwriting purposes — before any account-type haircuts. That figure is then used exactly like employment income to assess your ability to repay.
Not every dollar counts at face value. Cash in checking and savings is generally counted at or near 100%. Stocks, bonds, and other market accounts are usually discounted (a common convention is around 70% of value), and retirement accounts may be counted more conservatively still, especially if you are below the age of penalty-free access. The specifics vary by investor, which is exactly why we shop the file.
No job required — but the assets must be yours and seasoned
You do not need to be employed to qualify. What you do need is documented ownership and seasoning of the assets — typically a couple of months of statements showing the funds are yours and stable, not a recent deposit parked to inflate the total. Assets used to qualify generally must be liquid or reasonably liquid; illiquid holdings like a private business interest or real estate equity usually cannot be counted the same way.
What you bring to the table
Recent statements for every account you want counted, evidence of ownership, and documentation of the funds for down payment and closing (which come out of the same asset pool). Credit is pulled, and the ability-to-repay determination is made on the calculated asset-based income. Note this program is for primary residences only.
Asset-Based Loans vs. a conventional loan
Asset-based qualification is unique among these programs because it ignores income entirely. Here is the contrast with a conventional loan.
| Feature | Asset-Based Loans | Conventional loan |
|---|---|---|
| Qualifying basis | Eligible assets ÷ 60 months | Documented monthly income |
| Employment | Not required | Required (or documented income source) |
| Minimum FICO | 660+ | Typically 620+ |
| Occupancy | Primary residence only | Primary, second, or investment |
| Loan amounts | Up to 80% to $3M (75% cash-out) | Conforming / high-balance limits |
Compare with related programs
Asset-Based Loans — frequently asked questions
Can I get a mortgage with no income, just assets?
Yes. Asset-based qualification converts your eligible assets into a qualifying income figure by dividing by 60 months, so no employment or earned income is required. An ability-to-repay determination is still made on that calculated figure.
How is the qualifying income figured?
The lender totals your eligible assets and divides by 60. Cash counts at or near full value; market and retirement accounts are typically discounted to account for volatility and access.
Which accounts can I use?
Checking, savings, stocks, bonds, 401(k), and IRA accounts. The mix of what counts and at what percentage varies by investor.
What credit score do I need?
The program starts at a 660 FICO.
How much can I borrow?
Up to 80% loan-to-value to $3M on a purchase, and up to 75% to $3M on a cash-out refinance.
Can I use this for a second home or rental?
No. Asset-based qualification on this program is for primary residences only. For investment properties, ask us about the bank statement program or a DSCR loan through a sibling lender.
Do my assets have to be liquid?
Generally yes — liquid or reasonably liquid accounts. Illiquid holdings such as a private business interest usually cannot be counted the same way.
Are retirement accounts counted at full value?
Usually not. Retirement accounts are often counted conservatively, especially if you are below the age for penalty-free withdrawals. The exact haircut depends on the investor.
Is this the same as a reverse mortgage?
No. This is a standard forward mortgage with regular payments; it simply qualifies you on assets rather than income. It is not a reverse mortgage.
Talk to the Cook Brothers about your file
We shop your scenario across 25+ non-QM investors to find the guideline that fits how you actually earn. Start with the two-minute qualifier or reach out directly.
Non-QM loan programs. Alternative income documentation required. All loans subject to underwriting approval, income/asset verification, and ability-to-repay determination. Not all applicants will qualify. Program availability and guidelines subject to change without notice.