Current asset-based guidelines, updated from one source.
The block below is the asset-based program reduced to the figures that decide a file, read from Lendmire’s single guideline source and refreshed on this page when the wholesale sheets change: the loan ceiling on each path, the credit floor, the leverage by purpose and occupancy, and the share of each account type that counts. Everything else on the page is explanation.
Up to $4,000,000 on assets alone; $3,500,000 when assets become income
The asset qualifier path reaches $4,000,000 when the usable assets cover the whole loan; the asset depletion path runs from $125,000 to $3,500,000 with the assets converted into income instead. Both are program ceilings, not offers, and the placing lender confirms the amount for the file.
The asset qualifier path’s published floor; the depletion path follows the suite’s score and amount matrix
Credit enters an asset-based file through a floor rather than a formula: 600 on the path that covers the loan with assets, a matrix cell on the path that converts them into income. On the depletion path a clean recent housing history is the expectation, with one late payment in the past year tolerated at a cost; the qualifier path publishes the floor alone.
That ceiling on a purchase and 75% on a refinance when assets cover the loan; 60% on a depletion cash-out
Leverage tops out at 80% on a purchase whichever path carries the file. The paths part on the refinance: 75% when the assets cover the loan, and on the depletion side 80% for a rate-and-term and 60% for a cash-out. Investment property, available on the depletion path only, is capped lower.
Credited under 59½, and at 59½ or older, when assets cover the loan; 70% at any age when assets become income
A 401(k) or IRA is credited at 90% of its balance for an owner under 59½ and 100% for an owner at 59½ or older on the asset qualifier path; the asset depletion path counts a flat 70% of the balance. Brokerage, savings, money market, and certificates of deposit count in full when the assets cover the loan.
| Account type | Credit toward the loan |
|---|---|
| Brokerage accounts (stocks, bonds, funds) | 100% of the balance |
| Certificates of deposit | 100% of the balance |
| Money market accounts | 100% of the balance |
| Savings and checking | 100% of the balance |
| Retirement accounts (401(k), IRA) — owner under 59½ | 90% of the balance |
| Retirement accounts (401(k), IRA) — owner 59½ or older | 100% of the balance |
| Account type | Share counted |
|---|---|
| Cash accounts | 100% of the balance |
| Certificates of deposit | 100% of the balance |
| Securities (stocks, bonds, funds) | 80% of the balance |
| Private stock | 75% of the balance |
| Retirement accounts (any age) | 70% of the balance |
| Real-estate equity | 60% of the balance |
| Path and occupancy | Purchase | Rate-and-term | Cash-out |
|---|---|---|---|
| Asset qualifier — primary residence or second home | 80% | 75% | set by the lender |
| Asset depletion — primary residence | 80% | 80% | 60% |
| Asset depletion — second home | 80% | 80% | 60% |
| Asset depletion — investment property | 65% | 65% | 60% |
Two paths behind these pages: on the asset qualifier path the usable assets must equal or exceed the whole loan and no employment or income is documented; on the asset depletion path the usable assets are divided across the published number of months (the table above) into a qualifying income that carries the housing payment and other debts through the debt-to-income test. Reserves are not required on the qualifier path at or below the refinance leverage; the depletion path asks for statements at least one hundred twenty days old plus a current one. Minimum assets on the depletion path: the lesser of one million dollars or one and a quarter times the loan, never below a quarter million liquid when assets are the only income. Lendmire is a broker, not the lender, and the lender is not named.
Current asset-based snapshot · updated October 21, 2026 · a Lendmire loan officer confirms the path, the asset credit, and the leverage for the file before an offer.
This page describes program parameters, not an offer. The amounts, the credit floor, the leverage, the credit shares, the haircuts, and the seasoning are wholesale guidelines, subject to change without notice and to full underwriting; the statements, the credit report, and the appraisal decide every file. The calculator is illustrative and the lender’s own calculation governs. Lendmire is a mortgage broker, not a lender, licensed for consumer mortgages in sixteen states. NMLS #2371349.
What an asset-based mortgage is — and how the two paths qualify a file.
An asset-based mortgage is a consumer mortgage qualified on what a household owns rather than what it earns. The program behind these pages offers two ways to prove ability to repay from assets, and the choice between them is the first decision in a Lafayette file: cover the loan outright, or convert the assets into income. The cards below walk through the paths, the account rules, and the seasoning.
For the program overview, see Lendmire’s asset-based mortgage program, or the statewide guide at Asset-Based Mortgage in Indiana; for the age rule on retirement withdrawals, see the IRS.
Two paths, one program
Think of the two paths as two thresholds. On the asset qualifier path the threshold is the loan amount itself: the credited balances must reach it. On the asset depletion path the threshold is a ratio: the credited balances, divided into monthly income, must carry the housing payment and the other debts. A Lafayette file with a large balance sheet usually clears the first; a file with a moderate one is often written on the second.
The asset qualifier path
No employment and no income is documented on this path. That is not a loophole; it is the structure. The lender’s ability-to-repay review rests on the assets themselves, which is why they must cover the whole loan rather than a share of it. A Lafayette retiree whose statements add up to the loan amount is read on those statements, without a tax return, a pay stub, or a bank statement income calculation.
The asset depletion path
The path exists for the household whose assets are substantial but short of the loan. The minimum is a stated pool of qualified assets or a multiple of the loan balance, whichever is less, with a floor on liquid assets when the depletion income is the only income in the file. When the asset income merely supplements documented earnings, the minimum-assets rule is waived and the combined ratio may run to forty-five percent.
Seasoning, statements, and what counts
Seasoning means how long the money has been where the statements say it is. On the asset qualifier path, two months of statements for each qualifying account is the rule. On the asset depletion path the lender wants statements at least four months old plus the most recent one, with the sale of a business, an inheritance, or a legal settlement excused from the wait. A Lafayette buyer planning a purchase after a liquidity event plans the seasoning first.
Every input below is yours: the Lafayette price, the loan, the balances by account type, the owner’s age against the age line, the benchmark, and the carrying costs. The calculator credits the accounts the way the asset qualifier path does, converts them the way the asset depletion path does, and shows the loan against each, with a thirty-year payment at the benchmark for context.
Lafayette’s market in figures — and how asset-based lending fits.
The U.S. Census Bureau figures below set the scale of the Lafayette market the program lends into. Values set the loan size the assets must cover or carry; ownership sets how many households are candidates; the population sets the depth of the market the appraiser draws comparable sales from.
These are context figures, not underwriting inputs. A high median value means a larger loan for the assets to cover and a larger monthly income for the depletion path to produce; a lower one means the same balance sheet goes further. The owner share says how established the market is, and the owner count how deep the comparable sales run.
Data sources: U.S. Census Bureau — ACS 5-Year (2024) housing and population estimates, including tenure, home values, gross rents, and household income.
Distinct Lafayette neighborhoods, distinct asset files.
The Lafayette market breaks into submarkets, and an asset-based mortgage reads differently in each: a condominium near the center, a second home on the water, an estate on acreage, a rental on the far side of town. The cards describe the typical file in each and what the path choice turns on there.
Close-in architect-designed homes
The architect-designed homes on Lafayette’s close-in streets are hard to value, and on an asset-based file the appraisal decides the leverage: the loan is measured against the lower of price and value. A buyer covering the loan on assets answers a low appraisal with a larger down payment, which lowers the loan the assets must cover. On a home in Lafayette priced at or above the median, the asset qualifier path finances up to 80% of the price on a purchase — the balance of the price is the down payment, and the usable assets must cover the loan itself.
Estate properties
At the top of the Lafayette market the question is rarely whether the household can afford the home; it is how the lender documents that it can. The asset qualifier path answers with statements; the depletion path answers with a derived income; a loan officer shows both before the offer. About 53% of Lafayette’s households rent — roughly 17,191 renter households on the latest Census estimate.
High-rise and luxury condominiums
Lafayette’s high-rise and luxury condominiums draw the buyers the program is built for: a household downsizing from a house it owns outright, with the proceeds in a brokerage account and no salary to show. The unit is a principal residence or a second home on either path, the dues enter the depletion ratio, and the lender’s project review runs alongside the asset review. Median household income in Lafayette sits near $53,716 on the latest Census estimate.
Second homes and pied-à-terre purchases
Second homes are the program’s natural fit in Lafayette: a portfolio, a residence elsewhere, and a city unit bought on the balances. The occupancy is confirmed with the borrower’s intent and the property’s use, and the second-home row of the leverage table applies. Lafayette is home to about 71K people and sits within the Lafayette-West Lafayette, IN area.
Newer luxury infill and new construction
New luxury construction in Lafayette appraises cleanly, so the file is about the amount: a loan near the top of the program needs usable assets to match on the asset qualifier path, or a depletion income large enough to carry the payment. The calculator on this page shows both readings for a price in that range. The median owner-occupied home value in Lafayette runs near $172,800 on the latest Census estimate.
Two-to-four-unit homes
Small multi-unit buildings in Lafayette attract the asset-rich buyer who wants rental income beside the portfolio. Financed as an investment, the file is a depletion file: haircut assets divided into income, the investment leverage row, and a stronger score for a first-time investor. Roughly 15,051 Lafayette households own their homes on the latest Census estimate — 47% of all households, the pool an asset-based purchase joins.
The rules do not change with the street. Every Lafayette file is checked the same way: eligible accounts, credit share or haircut, usable total against the loan or divided into income, leverage against the ceiling for the purpose and occupancy, seasoning, and credit. The submarket shapes the price and the appraisal, nothing more.
Four ways Lafayette buyers put their assets to work.
The uses below are the ones Lafayette loan officers see most: the retiree buying on a portfolio, the seller of a business buying before the next venture, the household keeping the investments invested, the second home bought on assets. Each is a different file on the same two paths.
Buy after a liquidity event, before the next venture
The seller of a Lafayette business, the founder after an exit, the household after an inheritance: the money is new, large, and often unaccompanied by income. The asset qualifier path reads it once the two months of statements exist; the depletion path excuses the usual seasoning for sale-of-business, inheritance, and legal-settlement funds.
Refinance a home the assets already stand behind
Replacing an old loan on assets rather than income keeps a Lafayette household from documenting earnings it no longer has. The path’s refinance ceiling is lower than its purchase ceiling, and the assets must still cover the whole new loan; a loan officer confirms cash-out treatment with the lender before the file is placed.
Finance a second home or a rental on assets
For a rental, the asset depletion path is the only path open, at the investment-property leverage, with cash-out at the depletion path’s cash-out ceiling. For a second home, both paths are open. A Lafayette loan officer sorts the occupancy first, because it decides the path before the balances are even read.
Buy a home on assets alone, with no income in the file
The defining use of the program is the purchase qualified on the balances: brokerage, savings, money market, certificates of deposit, and retirement accounts credited by the owner’s age, adding up to the loan. For a Lafayette retiree the file is the statements and the credit report, and the home can be the principal residence or a second one.
Measure a Lafayette loan against the assets before requesting a review.
This is an asset coverage estimate, not an approval: it credits each account type the way the program does, switches the retirement credit at the age line, measures the total against the loan, applies the depletion haircuts and the divisor, and estimates the payment at the Freddie Mac benchmark. A Lafayette loan officer runs the lender’s own version before anything is written.
Lafayette asset coverage estimate
The starting figures are a Lafayette price in the upper part of the market with a loan at seventy percent of it and a balance sheet that covers the loan at the under-59½ retirement credit. Every field is editable, and the benchmark updates weekly from the Freddie Mac series.
Editable benchmark: 7.40% as of October 15, 2026 · Freddie Mac 30-year average via FRED®. A conventional market reference, not an asset-based mortgage quote.
Illustrative starting assumptions: a $500,000 price above the Lafayette median, a loan at seventy percent of the price, a balance sheet split among cash, brokerage, and retirement accounts with the owner under 59½, a thirty-year payment at the current Freddie Mac conforming benchmark, property taxes and insurance estimated for Indiana (U.S. Census Bureau). Every field is editable.
Illustrative estimate only — not a Loan Estimate, approval, quote, or commitment to lend. The credit percentages, the haircuts, and the divisor are wholesale program parameters hydrated from Lendmire’s guideline endpoint; the lender’s own calculation governs, and which accounts count, how they season, and what the age rule allows are settled in underwriting. The rate field carries the weekly Freddie Mac thirty-year conforming benchmark, a market reference and not an asset-based mortgage quote; the terms on an asset-based mortgage are set by the lender at lock. Taxes and insurance are estimates. Nothing here is tax or investment advice.
Same buyer, three ways to document the file.
The same Lafayette household can often be written three ways. The asset qualifier path asks the assets to cover the whole loan and needs the least paperwork. The asset depletion path does not need the balances to cover the loan and brings the ratio test back. The bank statement loan ignores the balances and reads the deposits instead. Which one fits depends on where the money shows up.
Assets that cover the loan, assets as income, or deposits as income.
When the credited balances reach the loan, nothing else about income needs to be shown. The trade is the threshold: the assets must cover the loan itself, not a share of it, and investment property is not on this path. Reserves are not required at or below the refinance leverage, and the file is the statements, the credit report, and the appraisal.
Haircut assets divided by the divisor into a monthly income, then the debt-to-income test with the new payment. Principal residences, second homes, and investment property; purchase, rate-and-term, and cash-out at published ceilings; a minimum-assets rule when the income stands alone; longer seasoning.
A different question entirely: not what the household owns but what the business brings in. The bank statement loan suits the Lafayette owner with strong deposits and modest savings, where the asset-based paths suit the household with strong savings and modest deposits. See Lendmire’s bank statement loan program.
Assets that cover the loan, assets that become income, deposits that become income: three answers to one question, and the right one for a Lafayette household is read off its statements. The comparison on this page is run for real on every file before the lender’s terms are put in writing. Loans above the conforming limit on documented income: Lendmire’s jumbo loan program.
What to prepare for a Lafayette scenario review.
Because the assets are the whole case on the asset qualifier path and most of it on the depletion path, the lender reads them carefully. A Lafayette buyer who assembles complete statements, with the transfers and the deposits explained, is far less likely to meet the questions that stall a file.
This is a general preparation guide, not a universal checklist. The selected lender may request additional information based on the transaction, the property, the path, the accounts, and the credit picture. Nothing here is legal, tax, or investment advice.
Local details that can change the loan.
The figures in the snapshot are the program’s; the details below are where a Lafayette file moves. Which side of the age line the owner stands on, how long the money has been in place, which accounts the lender will count, and which path the occupancy allows are settled before the terms are written.
Use these checks to keep the Lafayette file clean and fundable.
Settle the age rule, the seasoning, and the eligible accounts first. Everything else in a Lafayette file, the path, the leverage, the loan amount, is arithmetic once those three are known.
- Confirm the age rule: each retirement account is credited by its owner’s age on the asset qualifier path.
- Count the months: the depletion path wants a statement at least four months old plus a current one.
- Confirm the reserves: the depletion path lists no reserve months of its own.
Retirement accounts and the age line
The age line is applied per owner and per account. A Lafayette couple where one spouse is past 59½ and the other is not sees each account credited by its own owner’s age, and the sum is what counts against the loan. The accounts stay where they are; the age rule governs the credit, not the custody. The birthday is checked against the date of the application.
Seasoning by path
Seasoning differs by path. Covering the loan with assets needs two months of statements for each qualifying account. Depleting the assets into income needs a statement at least four months old plus a current one, with sale-of-business, inheritance, and legal-settlement funds excused. A Lafayette buyer timing a purchase after a liquidity event counts the months before the offer.
Reserves by path
The practical question for a Lafayette file is whether the down payment and closing costs come out of the same accounts that cover the loan. They can, but the lender reads the balances after those draws, so a file that just clears the threshold before closing may not clear it after. The calculator’s margin is the figure to watch.
Leverage by purpose
The purchase ceiling and the refinance ceiling are not the same on the asset qualifier path, and on the depletion path a cash-out carries its own, lower ceiling on every occupancy. A Lafayette borrower refinancing on assets plans the new loan against the refinance figure, not the purchase figure, and a cash-out against the cash-out figure.
The minimum-assets rule on the depletion path
When depletion income is the only income in the file, the pool of qualified assets must meet a minimum: the lesser of a stated amount or a multiple of the loan balance, and never below a liquid floor. A Lafayette buyer with a small loan clears it easily; a buyer with a large loan and a modest pool may not, and the minimum is read before the income is even calculated.
From a Lafayette asset review to keys in hand.
The process is short on paperwork about income and long on paperwork about accounts. A Lafayette buyer who understands that order, statements first, then contract, then underwriting, then closing, arrives at each step prepared.
Asset review
Start with the statements, the credit score, the occupancy, and the purpose. A Lendmire loan officer sorts the eligible accounts, applies the credit shares and the haircuts, reads the usable total against the loan on the asset qualifier path and into income on the depletion path, confirms the age rule for each retirement account, and puts the result in writing.
Contract and appraisal
A Lafayette buyer on assets competes like any financed buyer: the contract, the appraisal contingency, and the timeline are the usual ones. What differs is that no employment verification sits in the path on the asset qualifier side, so the file is often quieter than an income file at this stage.
Underwriting
Underwriting on an asset-based file is about the accounts: every page of every statement, every large deposit explained, every retirement owner’s age confirmed, the seasoning counted. On the depletion path the ratio is calculated with the new payment; on the asset qualifier path the total is confirmed against the loan.
Closing
At closing the down payment and the closing costs are paid, the loan funds, and the accounts that qualified the file stay where they were. The lender reads the balances as they stand after the funds to close are drawn, which is why a Lafayette file keeps a margin above the threshold.
A brokerage that reads both paths.
The program behind these pages is placed with select lenders in Lendmire’s wholesale network, and Lendmire is never the lender. What the brokerage adds is the comparison: the asset qualifier path against the depletion path against a bank statement loan on the same Lafayette statements, and written terms for the one that fits.
Both paths, one set of statements
Before any recommendation, the Lafayette statements are run through the asset qualifier path and the asset depletion path on the lender’s own rules: the credit shares and the age line on one side, the haircuts and the divisor on the other. The buyer sees the usable total against the loan and the derived income against the payment, and the path is chosen on the result.
The account rules explained before the offer
Which accounts count, how retirement money is credited by age, how long each account must season, what a large deposit needs behind it: a Lafayette buyer hears these before the contract is signed, not after the underwriter asks. The margin above the threshold is shown, so the down payment and the closing costs can be planned around it.
Licensed, consumer-purpose, in writing
Asset-based mortgages on a principal residence or a second home are consumer loans, placed under Lendmire’s consumer licensing in sixteen states with the disclosures that attach to any consumer mortgage. A Lafayette buyer gets the terms in writing from a licensed loan officer, and nothing on this page is an offer or a quote.
Trusted by buyers & families alike.
Lafayette asset-based mortgage FAQs
The questions Lafayette buyers bring to an asset-based mortgage, answered in order: the two paths, the age rule, the seasoning, the eligible accounts, the leverage, the occupancies, and the comparison with a bank statement loan.
What is an asset-based mortgage?
Asset-based means the ability to repay is shown through accounts. The program behind these pages reaches principal residences and second homes on the path that documents no income, adds investment property on the path that converts assets into income, and is placed with select lenders in Lendmire’s network.
How does the asset qualifier path work?
On this path the assets are the ability to repay, which is why they must cover the loan itself rather than a share of it. A Lafayette loan officer calculates the usable total before the offer, and a shortfall is usually answered with a larger down payment, which lowers the loan to what the assets cover.
How does the asset depletion path work?
It converts assets into income. Cash and certificates of deposit count in full, securities at a lower share, retirement accounts lower still regardless of age, and real-estate equity lowest; the haircut total is divided by the divisor and treated as monthly income. The path reaches principal residences, second homes, and investment property.
How are 401(k) and IRA balances counted, and why does 59½ matter?
Under 59½, the asset qualifier path credits most of a 401(k) or IRA; at or past 59½, all of it. The depletion path ignores age and applies its own haircut before dividing by the months. The calculator on this page has a switch for the age line so a Lafayette buyer can see the difference on the actual balances.
What credit score does an asset-based mortgage need?
Credit enters through a floor on one path and a matrix on the other, with the housing history read on the depletion path. The figure for the asset qualifier floor is in the snapshot; the depletion path’s requirement depends on the loan amount and the leverage, and a loan officer names it for the specific Lafayette file.
Are reserves required?
Not at or below the refinance leverage on the asset qualifier path, and the depletion path lists no reserve months; above the refinance leverage the lender sets the requirement. The practical reserve question is different: a file that just clears the asset threshold before closing may not clear it after the down payment leaves the account, and the calculator’s margin is the figure a Lafayette buyer watches; a loan officer plans the funds to close around it.
What sets the timeline on an asset-based mortgage?
The program does not promise a closing date, and neither does this page. What a Lafayette buyer controls is the completeness of the statements and the explanation of the deposits, and those decide whether the file moves at the contract’s pace or waits.
How is this different from a bank statement loan?
Both are documentation alternatives to tax returns, placed with wholesale programs, with their own leverage matrices. The asset-based program’s distinctive feature is the path that documents no income at all; the bank statement program always derives an income. A Lafayette loan officer runs both when the file could go either way.
Can I buy a second home or a rental on assets?
A rental on assets means the depletion path, the investment ceiling, and the investor credit rules. A second home on assets means either path and the owner-occupied ceilings. A Lafayette loan officer confirms the occupancy with the borrower’s intent and the property’s use before the balances are read.
Can I take cash out?
The depletion path has a cash-out row in the leverage table, lower than the purchase and rate-and-term rows. The asset qualifier path publishes a refinance ceiling without a separate cash-out figure, so the lender’s rule governs. Either way the proceeds are not counted toward the usable total.
A Lafayette mortgage sized to the balance sheet, not the pay stub.
Tell us the price, the loan wanted, and the accounts, and we will show the usable total on each path, the margin above the loan, and the depletion income beside the payment, in writing.
This guide covers Lafayette — for the statewide guidelines, markets, and scenarios, see Asset-Based Mortgage in Indiana, part of Lendmire’s asset-based mortgage program.
Nearby markets in Indiana: West Lafayette · Kokomo · Westfield · Carmel · Noblesville · Fishers · Indianapolis · Lawrence
Related programs: Bank Statement Loans · Jumbo Loans · Super Jumbo Bank Statement Loans