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 largest loan on the asset qualifier path is $4,000,000, provided the usable assets equal or exceed it; the asset depletion path tops out at $3,500,000. Neither figure is a quote, and the lender’s own calculation of the usable assets governs the amount.
The asset qualifier path’s published floor; the depletion path follows the suite’s score and amount matrix
The published floor is 600 for the asset qualifier path. The asset depletion path prices by score tier inside the documentation suite’s matrix, and the leverage available at a given score falls as the loan grows. Either way the score is one input among several, settled in underwriting.
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
The age line at 59½ is a program rule, not a tax rule, though it echoes one: below it the asset qualifier path credits 90% of a retirement balance, above it 100%. The asset depletion path ignores age and counts 70% of the balance before dividing by the months.
| 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.
There are two questions a lender can ask of a balance sheet. Is there enough here to cover the whole loan? Or, spread across a fixed number of months, is there enough here to look like the income the loan needs? The asset qualifier path asks the first and the asset depletion path the second, and a St. Petersburg buyer is qualified on one of them, not both at once.
For the program overview, see Lendmire’s asset-based mortgage program, or the statewide guide at Asset-Based Mortgage in Florida; for the age rule on retirement withdrawals, see the IRS.
Two paths, one program
The asset qualifier path and the asset depletion path share a premise and differ in arithmetic. Both qualify a St. Petersburg buyer on eligible accounts rather than earnings. The first requires the usable assets to equal or exceed the entire loan and documents no employment or income; the second does not require the assets to cover the loan: it converts them into a monthly income and runs that income through the debt-to-income test with the new payment included.
The asset qualifier path
On the asset qualifier path the lender adds up the eligible accounts, credits each at its share, and compares the total with the loan. Brokerage accounts, certificates of deposit, money market accounts, and savings count in full; a 401(k) or IRA counts at a reduced share while the owner is under 59½ and in full from 59½ on. Accounts combine across types, so a St. Petersburg buyer with a mixed balance sheet is read on the sum.
The asset depletion path
On the asset depletion path the lender applies a haircut to each account type, adds up what remains, and divides the total by a fixed number of months to produce a monthly qualifying income. Cash and certificates of deposit count in full, securities at a lower share, private stock lower still, retirement accounts lower again regardless of age, and real-estate equity lowest. A St. Petersburg file then runs through the debt-to-income test with the new payment included.
Seasoning, statements, and what counts
The statements are read twice on a St. Petersburg file: first for seasoning, two months on the asset qualifier path and a statement at least four months old plus the latest one on the asset depletion path, then for how much of each eligible account counts. Covering the loan credits most accounts in full and retirement accounts by the owner’s age; converting assets into income applies haircuts by account type and ignores age. The same balance sheet produces two usable totals, and the loan officer shows both before underwriting settles the path.
The calculator runs a St. Petersburg balance sheet through both paths at once. It credits cash, brokerage, and retirement balances at their shares, flips the retirement credit when the owner is past the age line, measures the total against the loan, and divides the haircut total into a monthly income beside the estimated payment. The arithmetic is illustrative; the lender’s own calculation governs.
St. Petersburg’s market in figures — and how asset-based lending fits.
The U.S. Census Bureau figures below set the scale of the St. Petersburg 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 St. Petersburg neighborhoods, distinct asset files.
No single asset-based file describes St. Petersburg. The cards below differ in housing stock, price, occupancy, and the kind of borrower who buys there, and each describes how the program reads a file in that part of the market. The rules do not change with the street; the file does.
Newer luxury infill and new construction
New luxury construction in St. Petersburg 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 St. Petersburg runs near $371,100 on the latest Census estimate.
Close-in architect-designed homes
Value drives the leverage on a one-of-a-kind St. Petersburg home; the accounts drive the rest. A loan officer runs the file at the contract price and at a lower appraised value so the buyer knows the margin on both before the offer. A margin above the loan is the usual protection. On a home in St. Petersburg 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.
Two-to-four-unit homes
Small multi-unit buildings in St. Petersburg 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. About 37% of St. Petersburg’s households rent — roughly 44,329 renter households on the latest Census estimate.
High-rise and luxury condominiums
The downsizer’s file: the house is sold, the proceeds sit in the accounts, and the St. Petersburg condominium is bought on the statements. Two months of statements season the proceeds on the asset qualifier path; the project review and the appraisal are the building’s questions, not the borrower’s. St. Petersburg is home to about 263K people and sits within the Tampa-St. Petersburg-Clearwater, FL area.
Second homes and pied-à-terre purchases
Second homes are the program’s natural fit in St. Petersburg: 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. Roughly 74,915 St. Petersburg households own their homes on the latest Census estimate — 63% of all households, the pool an asset-based purchase joins.
Estate properties
St. Petersburg’s estate properties are where the program’s largest loans are written, and where the asset qualifier path is most often the fit: a balance sheet that covers a loan at the top of the program with no income in the file. The appraisal on an estate is usually the slowest and hardest part of the file; the assets are usually the easy part. Median household income in St. Petersburg sits near $75,192 on the latest Census estimate.
A St. Petersburg loan officer uses submarket knowledge to set expectations about value and comparable sales; the program’s figures are set by the sheets, not by the neighborhood, and every file is held to them.
Four ways St. Petersburg buyers put their assets to work.
Four ways St. Petersburg buyers put the program to work, from a principal residence bought on assets alone to a rental financed on depletion income. Each use names the path and the detail that most often decides the file.
Turn a portfolio into qualifying income
A St. Petersburg buyer whose assets are substantial but short of the loan uses the asset depletion path: the eligible accounts are haircut by type, added up, and divided by the divisor into a monthly income that carries the new payment through the debt-to-income test. The minimum-assets rule applies when that income stands alone, and is waived when it supplements documented earnings.
Keep the investments invested
A St. Petersburg household that could pay cash often prefers not to: selling the portfolio interrupts its income and empties accounts that took decades to build, and the sale itself has consequences a tax adviser, not a lender, should weigh. The asset-based mortgage lets the assets qualify the loan while staying where they are. The accounts are documented, not drawn down, and neither path requires the balances to be moved.
Refinance a home the assets already stand behind
A St. Petersburg owner with a mortgage written on income that no longer exists on paper refinances on the asset qualifier path when the usable assets cover the new loan. The refinance leverage sits below the purchase leverage; whether cash can be taken out on this path, and at what leverage, is set by the lender and is not published.
Buy after a liquidity event, before the next venture
The seller of a St. Petersburg 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.
Measure a St. Petersburg loan against the assets before requesting a review.
Use the calculator to see which path a St. Petersburg balance sheet favors. If the usable assets cover the loan, the asset qualifier path is open and no income enters the file; if they fall short, the depletion reading beside it shows the monthly income the assets would produce and the payment that income would need to carry.
St. Petersburg asset coverage estimate
Illustrative St. Petersburg figures, all editable: the price, the loan, three account buckets, the age switch for the retirement credit, the benchmark, taxes, insurance, and other monthly debts for the ratio.
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 $525,000 price above the St. Petersburg 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 Florida (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.
Three routes to the same closing table, compared on what each one counts: the balance sheet in full, the balance sheet as income, or the deposit history of a business owner. A St. Petersburg loan officer prices the route the file supports best, and the comparison below explains how the choice is made.
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.
Business or personal deposits over a run of statements, read as income with an expense factor, for the self-employed owner whose tax returns understate the business. Balances are not the point; cash flow is. Leverage and reserves follow that program’s own matrix. 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 St. Petersburg 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 St. Petersburg scenario review.
An asset-based file is documented through statements rather than pay stubs, so the preparation is account-centered: every eligible account, every page of every statement for the required months, and the paperwork behind any large or recent deposit. The list below is the usual St. Petersburg set.
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.
What changes an asset-based file is rarely the headline figure. It is the retirement balance credited at a lower share because the owner is a year short of the age line, the deposit that has not seasoned, the account type the lender will not count, or the rental occupancy that moves the file to the depletion path. The items below catch them.
Use these checks to keep the St. Petersburg file clean and fundable.
Before the statements go in: confirm the retirement credit by age, confirm the seasoning by path, and confirm which accounts the lender counts. A St. Petersburg file that clears those three rarely surprises anyone in underwriting.
- Confirm the age rule: the depletion path haircuts retirement balances at a flat share regardless of age.
- Count the months: the depletion path wants a statement at least four months old plus a current one.
- Name the occupancy: a first-time investor needs a stronger score on the depletion path.
Retirement accounts and the age line
The age line is applied per owner and per account. A St. Petersburg 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 is the detail that most often sets the calendar for a St. Petersburg asset-based purchase. The asset qualifier path is the shorter wait; the depletion path is longer except where the funds came from the sale of a business, an inheritance, or a legal settlement. A loan officer reads the statements against the path’s clock before the contract is signed.
Occupancy decides the path
The occupancy also moves the leverage. On the depletion path the investment-property row sits below the owner-occupied rows for a purchase and matches them for a cash-out. A St. Petersburg rental financed on assets is a depletion file at the investment ceiling, read with the rental’s own appraisal and the program’s investor rules.
Supplementing income with asset income
The depletion path can add asset income to documented earnings rather than replace them. The combined ratio may run to forty-five percent when the income is supplemented, and the minimum-assets rule is waived. For a St. Petersburg household with a pension, a part-time income, or a small business and a meaningful portfolio, the supplemented file is often the stronger one.
Which accounts count
Most of the eligible list is shared by both paths, with real-estate equity and private stock counting on the depletion path only; the share counted is what differs. A St. Petersburg household whose wealth sits in a private company, in options, or in an account held abroad may find the usable total smaller than the net worth suggests, and the sorting is done before the path is chosen so the result is not a surprise.
From a St. Petersburg asset review to keys in hand.
The process is short on paperwork about income and long on paperwork about accounts. A St. Petersburg 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 St. Petersburg 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 St. Petersburg file keeps a margin above the threshold.
A brokerage that reads both paths.
Asset-based files reward careful reading. Which accounts count, at what share, on which path, with what seasoning, at what leverage for the purpose: each is a place where a file placed carelessly costs the buyer a larger down payment or a longer wait. Lendmire reads them in order, before the offer, for every St. Petersburg buyer.
Both paths, one set of statements
The comparison printed on this page is run for real on every St. Petersburg file: assets that cover the loan beside assets that become income beside deposits read as income, and the written terms follow from it. The buyer sees the usable total on each path, the margin above the loan, and the derived income beside the payment before anything is signed.
The account rules explained before the offer
Reading the statements early is the whole method. A St. Petersburg loan officer sorts the accounts, confirms the owners’ ages against the age line, counts the months, and names the usable total on each path, in writing, before an offer is drafted. The aim is a file with as little as possible left to be discovered in underwriting.
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 St. Petersburg 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.
St. Petersburg asset-based mortgage FAQs
The questions St. Petersburg 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?
An asset-based mortgage is a consumer home loan qualified on what the borrower owns rather than what the borrower earns. The lender counts eligible accounts, credits each at a share, and either requires the total to cover the whole loan or converts it into a monthly income. In St. Petersburg it is the loan for retirees, sellers of businesses, and households living on a portfolio.
How does the asset qualifier path work?
The path has three tests: the usable assets must cover the loan, the loan must sit inside the leverage for the purpose, and the credit score must be at or above the published floor. Reserves are not required at or below the refinance leverage. Income is never asked for.
How does the asset depletion path work?
Picture the balance sheet spread evenly across a span of months: that monthly slice is the income the lender uses. For a St. Petersburg household, the question is whether that slice, added to any documented income, carries the housing payment and the other debts within the ratio. The calculator on this page shows the slice beside the payment.
How are 401(k) and IRA balances counted, and why does 59½ matter?
Retirement money counts on both paths, and it counts most generously on the asset qualifier path for an owner past the age line. For a St. Petersburg file built mostly on retirement balances, the owner’s birthday can decide whether the assets cover the loan, and a loan officer checks the date first.
What credit score does an asset-based mortgage need?
Assets do not replace credit. A St. Petersburg borrower needs the score at or above the floor for the path; the depletion path also reads the housing history, tolerates one late housing payment in the past year at a cost, and does not accept repeated bankruptcies. The score is read from the report at application.
Which accounts count, and which do not?
A loan officer reads holdings, not just balances: a brokerage statement is read for what it holds, a retirement statement for its vested balance, a business account for whether the funds are the borrower’s. Anything on the ineligible list is set aside before the St. Petersburg usable total is calculated.
Can I take cash out?
Cash-out is a depletion-path feature with a published ceiling; on the asset qualifier path it is at the lender’s discretion. For a St. Petersburg file the loan officer confirms which path the refinance sits on and what leverage the purpose allows before the new loan is sized.
Can I buy a second home or a rental on assets?
Second homes are a natural asset-based file in St. Petersburg: the household has a principal residence elsewhere and a portfolio, and the second home is financed on the statements. Rentals are depletion files by definition, underwritten as investment occupancies on the program’s investor rules.
How long do the assets need to be in the accounts?
Two months of statements on the asset qualifier path; a statement at least four months old plus a current one on the depletion path. The purpose of seasoning is to show that the assets are the borrower’s to keep and not a loan dressed as a balance. A St. Petersburg buyer who leaves the accounts as they are and documents the history that already exists has the easiest file; moving money before applying creates a trail that has to be reconstructed.
Are reserves required?
The program is light on reserves because the qualifying assets are the reserves. The practical question for a St. Petersburg buyer is whether the down payment and closing costs are drawn from the same accounts that cover the loan, since the lender reads the balances after those draws.
Run the St. Petersburg asset numbers, then get the terms in writing.
Begin with an asset review: the statements, the loan, the occupancy, the purpose. A Lendmire loan officer sorts the accounts, runs both paths, and puts the written terms for the one that fits in front of you.
This guide covers St. Petersburg — for the statewide guidelines, markets, and scenarios, see Asset-Based Mortgage in Florida, part of Lendmire’s asset-based mortgage program.
Nearby markets in Florida: Pinellas Park · Largo · Clearwater · Anna Maria · Tampa · Bradenton · Lakewood Ranch · Sarasota
Related programs: Bank Statement Loans · Jumbo Loans · Super Jumbo Bank Statement Loans