Current asset-based guidelines, updated from one source.
Four cards and three tables carry every figure an asset-based file turns on, drawn from one source built on the wholesale program sheets: amount, credit, leverage, and the retirement credit in the cards; the account-by-account credit, the depletion haircuts, and the leverage by occupancy in the tables. The prose around them explains how the figures are used.
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 asset qualifier path publishes a 600 decision-score floor. The asset depletion path follows the score and loan-amount matrix of the documentation suite it belongs to, where the floor rises with the leverage and the amount. The score is read from the credit report at application; it is never promised here.
That ceiling on a purchase and 75% on a refinance when assets cover the loan; 60% on a depletion cash-out
The leverage ceilings are 80% for a purchase and 75% for a refinance on the asset qualifier path, and 80% for a purchase or rate-and-term refinance and 60% for a cash-out on the asset depletion path, both on a principal residence or second home. The leverage table shows the investment-property row.
Credited under 59½, and at 59½ or older, when assets cover the loan; 70% at any age when assets become income
90% under the age line, 100% at or past it: that is how a retirement balance is credited when the assets must cover the loan. When the assets are instead converted into income, the same balance counts at 70% whatever the owner’s age. The difference can decide which path fits.
| 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.
For informational purposes only. This is not a commitment to lend or extend credit, an offer, or a quote. Program parameters shown are wholesale lender guidelines in force on the date shown, are subject to change without notice, and every figure depends on the borrower, the property, the occupancy, the selected path, and full underwriting. Asset credit percentages and the qualifying arithmetic shown are illustrative; the lender’s own calculation governs. Lendmire is a mortgage broker, not a lender, licensed to broker 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 Warren 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 Michigan; 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 Warren 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
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 Warren 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 Warren file then runs through the debt-to-income test with the new payment included.
Seasoning, statements, and what counts
Seasoning is the proof that the assets are the borrower’s to keep: two months of statements on the asset qualifier path, older statements plus the current one on the asset depletion path. Large recent deposits inside that window are read, not ignored: a transfer between the borrower’s own accounts is documented as such, a sale of property or a business with its paperwork, and a gift under the lender’s gift rules. A Warren file that shows the trail cleanly meets fewer questions in underwriting.
Two paths, one set of inputs. The calculator shows the largest loan the assets would cover on the asset qualifier path inside the leverage ceiling, and the monthly income the same accounts would produce on the asset depletion path, so a Warren buyer can see which path the balance sheet favors before a loan officer confirms it.
Warren’s market in figures — and how asset-based lending fits.
An asset-based mortgage is written against the top of a local market, and these are Warren’s numbers from the U.S. Census Bureau: the population, the median home value, the share of households that own, and the owner households the program is sized against. Program figures live in the snapshot above; the figures here describe the market, not the file.
Market context only. These are context figures, not underwriting inputs. A typical value sets the scale of the loan, the ownership share says how many households are likely to be buyers rather than renters, and the owner count says how wide the comparable pool is when the appraisal is written.
Data sources: U.S. Census Bureau — ACS 5-Year (2024) housing and population estimates, including tenure, home values, gross rents, and household income.
Distinct Warren neighborhoods, distinct asset files.
Each card below is a Warren submarket seen through the program: who buys there on assets, which path usually fits, and what the loan officer checks first. The figures in the snapshot apply everywhere; the emphasis changes from one card to the next.
Second homes and pied-à-terre purchases
A Warren pied-à-terre bought by a household whose principal residence is elsewhere is a second-home file at the second-home leverage on either path. The asset qualifier path covers the loan with the statements; the depletion path converts them. Neither asks about the income that supports the other home. About 29% of Warren’s households rent — roughly 15,822 renter households on the latest Census estimate.
High-rise and luxury condominiums
A Warren condominium bought on assets is an asset-based file with the building added. Established projects usually pass review; the account rules are the same as for a house, and the asset qualifier path keeps income out of the file when the usable total covers the loan. Two months of statements season the proceeds. Warren is home to about 138K people and sits within the Detroit-Warren-Dearborn, MI area.
Two-to-four-unit homes
A Warren two-to-four-unit home bought to live in one unit is an owner-occupied file and can sit on either path where the lender’s property rules allow; bought as a rental it is an investment occupancy on the depletion path at the investment ceiling. The occupancy is settled first because it decides which path and which leverage apply. Median household income in Warren sits near $64,016 on the latest Census estimate.
Estate properties
An estate purchase on assets is sized against the program ceiling and the usable total at once. A Warren buyer near the ceiling is read closely on the margin, on which accounts count, and on the age rule for retirement money, because a small change in the credited total moves a large loan. Roughly 38,922 Warren households own their homes on the latest Census estimate — 71% of all households, the pool an asset-based purchase joins.
Newer luxury infill and new construction
New luxury construction in Warren 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 Warren runs near $193,400 on the latest Census estimate.
Close-in architect-designed homes
Value drives the leverage on a one-of-a-kind Warren 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 Warren 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.
Whichever Warren neighborhood the home sits in, the asset-based questions are the same: which accounts count, at what share, whether the total covers the loan, and if not, what income the depletion path produces. The cards are context; the snapshot is the rule.
Four ways Warren buyers put their assets to work.
The uses below are the ones Warren 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.
Finance a second home or a rental on assets
A second home is reachable on either path at the same purchase leverage; an investment property is reachable on the asset depletion path only, at a lower ceiling. A Warren buyer financing a rental on assets is qualified on the depletion income, the rental is underwritten as an investment occupancy, and a first-time investor needs a stronger score.
Keep the investments invested
Borrowing against the strength of a balance sheet rather than spending it is the program’s quiet use. The Warren buyer keeps the brokerage account, the retirement accounts, and the savings in place; the lender reads the statements and writes the loan. Which path fits depends on whether the credited total reaches the loan and on the occupancy, since a rental is a depletion file.
Refinance a home the assets already stand behind
The refinance is the retiree’s use: the income that qualified the original loan has stopped, the portfolio has not, and the asset qualifier path reads the portfolio. A Warren file needs usable assets equal to the new loan, a loan inside the refinance leverage, and two months of statements per account.
Buy after a liquidity event, before the next venture
After a sale, the question is documentation rather than qualification. The Warren loan officer traces the proceeds with the sale paperwork, confirms the accounts they landed in, counts the statements, and chooses the path the total supports. Cash-out proceeds from a refinance never count as assets on either path.
Measure a Warren loan against the assets before requesting a review.
Enter a Warren price, the loan wanted, and the balances by account type, then choose whether the owner of the retirement accounts is past the age line, and the calculator shows whether the usable assets cover the loan on the asset qualifier path, the largest loan they would cover inside the leverage ceiling, and the monthly income the same accounts would produce on the asset depletion path beside a thirty-year payment at the benchmark.
Warren asset coverage estimate
Illustrative Warren 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 $500,000 price above the Warren 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 Michigan (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.
For a Warren buyer with assets and an unconventional income picture, the comparison is between covering the loan, depleting the assets, and documenting deposits. The rows set out the strengths of each, and the last row says where each one fits.
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.
The path for the household whose savings are real but smaller than the loan. It can carry a loan the balances would not cover outright, widens the occupancies to include rentals, and adds a cash-out ceiling; in exchange it brings the ratio back and counts retirement money at a flat haircut.
The deposit route reads the statements for inflows rather than balances. For a business owner whose accounts turn over, it can produce a larger qualifying income than depleting the balance would; for a retiree with no deposits, it produces nothing. 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 Warren 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 Warren 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 Warren 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.
A handful of details decide whether a Warren asset-based file closes as planned, closes on a different path, or needs a larger down payment. The lead items below are the age rule on retirement accounts and the seasoning; the others rotate by file.
Use these checks to keep the Warren 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 Warren file that clears those three rarely surprises anyone in underwriting.
- Confirm the age rule: a birthday close to the age line can change the usable total and the path.
- Count the months: a sale of a business, an inheritance, or a settlement is excused from the depletion wait.
- Sort the accounts: brokerage, bank, money market, certificates of deposit, and retirement accounts are eligible.
Retirement accounts and the age line
The owner’s age decides how much of a 401(k) or IRA counts on the asset qualifier path: a reduced share under 59½ and the full balance from 59½ on. For a Warren file built mostly on retirement money, a birthday can be the difference between covering the loan and falling short, and a loan officer checks the date against the age line before the path is chosen.
Seasoning by path
Seasoning is the detail that most often sets the calendar for a Warren 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.
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 Warren 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.
Large and recent deposits
Sale-of-business, inheritance, and legal-settlement funds are excused from the depletion path’s seasoning but still documented with their source. For a Warren file, the paperwork behind the deposit is as important as the balance, and gathering it early is what keeps the calendar. The source documents travel with the statements.
Occupancy decides the path
A principal residence or a second home can be written on either path. An investment property can be written on the asset depletion path only, at a lower leverage ceiling, and a first-time investor needs a stronger score. For a Warren buyer, naming the occupancy honestly is the first step, because it settles which path is open before the balances are read.
From a Warren asset review to keys in hand.
An asset-based purchase runs in a fixed order: a review of the statements that settles the path and the leverage, a contract and an appraisal, underwriting of the accounts and the credit, and closing. The steps below describe each for a Warren file.
Asset review
A Warren asset review is a sizing exercise with the account rules open: the balances by type, the share credited on each path, the total against the loan, the income against the payment. The loan officer writes the outcome down for the offer. Nothing is assumed; every account is read from its statement.
Contract and appraisal
The contract sets the price the loan is measured against; the appraisal confirms the value supports it. On a Warren file where the assets just cover the loan, an appraisal that lands under the price is answered with a larger down payment, which lowers the loan the assets must cover.
Underwriting
Conditions, when they come, are usually documentary: a missing statement page, a deposit without its source, an account that needs its holdings shown. A Warren buyer who gathered the list on this page meets most of them before they are asked. The underwriter’s questions are the loan officer’s questions asked a second time, on the same statements.
Closing
Closing on an asset-based loan looks like any other closing from the outside. From the inside, the difference is what did not happen along the way: no employment call, no tax transcript, no income calculation on the asset qualifier path. A Warren loan officer attends to the funds to close so the usable total is intact.
A brokerage that reads both paths.
A single lender with one asset program sells that program. A brokerage with both paths on the table can say which one a Warren file supports and why. That is the service: the statements read twice, the usable totals shown side by side, the recommendation following the numbers.
Both paths, one set of statements
The comparison printed on this page is run for real on every Warren 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
The age rule, the seasoning, and the eligible-account list are the three places an asset-based file surprises people. Lendmire walks a Warren buyer through all three at the review, with the statements open, so the file that goes to underwriting is the file the buyer expected. The margin above the threshold is written down too.
Licensed, consumer-purpose, in writing
Every figure on this page is a program parameter drawn from one guideline source. The written terms for a Warren file come from a licensed loan officer after the review, the credit report, and the appraisal; the page is where the method is explained, not where the loan is made.
Trusted by buyers & families alike.
Warren asset-based mortgage FAQs
The questions below are the ones a Warren loan officer hears first from a buyer who has assets and no income on paper. The answers describe the program’s rules in words; the figures live in the snapshot above.
What is an asset-based mortgage?
It is a mortgage where the statements, not the pay stubs, make the case. Two paths run under the program: cover the loan outright with usable assets and document no income, or deplete the assets into a qualifying income and run the usual ratio test. A Warren buyer is written on whichever path the balances support.
How does the asset qualifier path work?
It is the simplest file in the program, and the one that asks the assets to cover the whole loan. For a Warren retiree with a portfolio equal to the loan, the file is the statements, the credit report, and the appraisal; the age rule on retirement accounts is the detail most often checked.
How does the asset depletion path work?
The assets are haircut by type and divided by the divisor into a monthly income that runs through the ratio test. Seasoning is longer on this path: statements at least four months old plus a current one, with sale-of-business, inheritance, and legal-settlement funds excused. Cash-out refinances have their own ceiling, cash-out proceeds never count as assets, and a first-time investor needs a stronger score than an owner-occupant.
How are 401(k) and IRA balances counted, and why does 59½ matter?
On the asset qualifier path a retirement account is credited at a reduced share of its balance while the owner is under 59½ and at the full balance from 59½ on; the age line is the lender’s, and it tracks the age at which retirement plans generally allow withdrawals; what a withdrawal would cost is a question for a tax adviser. On the asset depletion path retirement accounts are haircut at a flat share regardless of age. The figures are in the snapshot above.
What credit score does an asset-based mortgage need?
The published floor opens the asset qualifier path. On the depletion path a first-time investor needs a stronger score than an owner-occupant, and larger loans at higher leverage want more. A Warren loan officer reads the report before the statements are counted, because credit decides the door.
Which accounts count, and which do not?
Brokerage, savings, checking, money market, certificates of deposit, and vested retirement balances count on both paths; custodial accounts, deferred compensation, escrow balances, foreign funds, cash on hand, options, and unvested units do not. Equity in other real estate and private stock count on the depletion path only, at reduced shares, with real-estate equity the smallest of any account type, so a Warren buyer whose balance sheet is mostly property usually lands on that path, with the equity counted at a fraction.
How much can I borrow against the price or the value?
Leverage and the asset threshold work together on the asset qualifier path: lowering the loan with a larger down payment lowers the usable total needed to cover it. The calculator shows the largest loan the assets would cover inside the ceiling for the purpose chosen.
Can I buy a second home or a rental on assets?
Yes to both, on different paths. For a second home a Warren buyer covers the loan on the asset qualifier path when the balances allow and depletes them into income when they do not. For a rental only the depletion path is open, and it is read with the investment-property row of the leverage table.
How large can the loan be?
The ceilings differ by path because the paths prove ability to repay differently. A Warren loan officer confirms the amount for the file after the usable total is calculated; the figures in the snapshot are the program’s limits, not an offer.
Can I take cash out?
A Warren owner refinancing on assets plans a cash-out against the depletion path’s cash-out ceiling, which sits below the rate-and-term ceiling on every occupancy. The usable total is read before the proceeds, never after, because cash-out proceeds are excluded from the assets by rule.
Keep the portfolio invested and finance the Warren home on it.
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 Warren — for the statewide guidelines, markets, and scenarios, see Asset-Based Mortgage in Michigan, part of Lendmire’s asset-based mortgage program.
Nearby markets in Michigan: Sterling Heights · Royal Oak · St. Clair Shores · Detroit · Troy · Southfield · Rochester Hills · Dearborn
Related programs: Bank Statement Loans · Jumbo Loans · Super Jumbo Bank Statement Loans