The Quick Read: It depends on the path, and a documented sale often skips the wait. On the asset qualifier path, funds typically need 60 days of seasoning with two months of statements per account. On the asset depletion path, statements must be at least 120 days old at application, but sale-of-business funds are excused from that clock. A settlement statement that ties the deposit to a closing is the proof lenders look for.
- Georgia has no state rule on seasoning. It is lender and program policy.
- Qualifier path: 60 days of seasoning, two months of statements per account.
- Depletion path: statements 120 days old plus one within 45 days.
- Sale-of-business funds are excused from the depletion seasoning clock.
- Funds held by a 1031 exchange intermediary never sit in your account, so there is nothing to season.
You have just sold something big, or you are about to. Now you want to buy a home with the cash and no paycheck behind it. The question is whether that money has to sit still first. Short answer: the clock depends on which asset-based path you use, and the paperwork from the sale can change it.
What does “seasoning” actually mean?
Seasoning is a holding-period test. A lender wants proof that the money is yours and not borrowed. Experian describes seasoned funds as money held for about 60 days, and says lenders review recent large deposits to confirm they are not undisclosed borrowed money. It also notes that documentation, such as a written explanation, can stand in when funds are not seasoned.
That last point matters most for you. A deposit inside the statement window is not an automatic denial. It becomes a request: where did this come from? For a sale, the answer is a document, and the document is usually enough to trace the money.
Georgia adds no extra layer. No Georgia statute or guideline sets a seasoning period for sale proceeds. The same program figures apply to a Georgia borrower as to anyone else, and Lendmire’s consumer mortgage lending is licensed in Georgia among its 16 states.
Which asset-based path are you on?
Across the wholesale network Lendmire works with, two different programs get called “asset-based.” They treat seasoning differently, so name your path before you read a number.
The asset qualifier path qualifies the whole loan on assets alone. Eligible assets, after the credit percentages, must equal or exceed the entire loan amount. No employment or income is documented. Select programs allow up to 80% loan-to-value on a purchase and 75% on a refinance, with loans up to $4,000,000, subject to underwriting.
The asset depletion path turns your usable assets into monthly income. The lender divides usable assets by 60 months, and that income then runs through the debt-to-income test, which compares your monthly debts to your income. On a principal residence or second home, leverage reaches 80% on a purchase or rate-and-term refinance and 60% on a cash-out. On an investment property it is 65% and 60%. Loans run from $125,000 to $3,500,000.
You are on one path at a time. Never blend the two tables.
| Factor | Asset Qualifier | Asset Depletion |
|---|---|---|
| How assets are used | Cover the whole loan | Become monthly income |
| Seasoning | 60 days | Statements 120 days old |
| Recent statement | Two months per account | One within 45 days |
| Sale-proceeds exception | Document the source | Business sale, inheritance, settlement excused |
Everything here is subject to underwriting and the lender’s own calculation.
How the qualifier path treats a sale
On the qualifier path, the rule is 60 days of seasoning and two months of statements for each qualifying account. Sale proceeds that landed recently will not have that history. That is where documentation does the work.
Funds already on your oldest statement are generally treated as yours. A deposit inside the window gets sourced. For a home sale, that means the final settlement statement from the closing, plus the bank statement showing the wire or check. A letter of explanation may follow if the underwriter asks.
Many investors assume every dollar needs 60 quiet days. Not quite. Experian describes sourcing as the alternative to waiting. Still, programs vary, and the strictest overlays in a network lean toward the full wait. Ask before you count on the exception.
How the depletion path treats a sale
On the depletion path, the base test is longer: statements at least 120 days old at application, plus the most recent statement within 45 days. Funds from the sale of a business, an inheritance or a legal settlement are excused from that seasoning, through select programs and subject to underwriting.
Notice what the exception covers. It names sale of a business. A home sale is not on that list in the program figures here, so treat a home sale as something to confirm, not assume. If your proceeds came from a house, ask early whether the lender will accept the settlement statement or want the longer history.
Minimums also apply. Depletion usually needs qualified assets of at least the lesser of $1,000,000 or 1.25 times the loan balance. When assets are the only income source, liquid assets can never fall below $250,000.
Which date starts the clock?
Borrowers often guess wrong here. The clock does not start at contract or at listing. Underwriters read the statements, so what matters is when the money posted to your account.
| Event | What it proves | What to confirm |
|---|---|---|
| Contract signed | Intent to sell | Nothing yet; no funds exist |
| Closing | Sale completed | Settlement statement matches the deposit |
| Funds posted | Money is in your name | Date on the statement |
| Statement cycle ends | Deposit appears on paper | Whether it meets the statement requirement |
A sale that closes the week before you apply leaves a short paper trail. A sale that closed several months ago may already be seasoned on the statements alone. Timing your application can save you a document chase.
Proceeds by type of sale
How you prove the deposit depends on what you sold.
| Sold | Proof document | Common pitfall |
|---|---|---|
| Home | Settlement statement | Net deposit differs from price |
| Business | Sale agreement, closing papers | Holdbacks or earn-outs not yet paid |
| Securities | Trade confirmation | Cash moved through other accounts |
| Crypto, metals, collectibles | Convert to cash first | Not published as eligible assets |
Cryptocurrency, precious metals, collectibles and pledged or borrowed funds are not published as eligible on either path. The documented route is converting them to a seasoned cash balance in a regulated account, with the source reviewed by the lender.
Your headline sale price is also not your usable number. Payoffs, costs and any escrow or holdback come out first. Escrowed holdback money is not cash in hand, and escrow accounts are not eligible on the depletion path.
What about a 1031 exchange?
If you are selling a rental and buying another, the exchange changes the picture. Proceeds sit with a qualified intermediary and never touch your account, so there is nothing to season. Pease Bell explains that the IRS sets a 45-day identification period and an 180-day exchange period, with the 180 days measured from the sale or the tax-return due date, whichever is earlier. The Real Estate CPA adds that if sale money reaches your own account, the exchange fails.
Those deadlines are tax rules, not a seasoning period. A lender’s holding period should never collide with them. Line up your financing before you list the old property. Also note that a purchase of a rental you will lease out is usually a business-purpose loan, and rent-qualified DSCR financing is a separate product from the asset-based mortgages covered here. Tax treatment varies; consult a qualified professional.
What breaks a clean paper trail
Most seasoning trouble is self-inflicted. Watch for these:
- Proceeds split across several accounts, so no single statement shows the whole story.
- Wires routed through a business account and then to a personal one.
- Cash moved between accounts in odd amounts after the sale.
- Partial reinvestment of the proceeds before you apply.
- Statement pages missing, or names that do not match the settlement statement.
- Gift or borrowed money mixed in with sale cash.
Keep the sale money in one account in your name until the file is underwritten. Boring is good.
How Georgia sales are documented
In Georgia, a closing attorney typically handles real estate closings, and the settlement statement is the standard proof of a home sale. That document is what ties your deposit to the closing. Get a complete copy, every page, before the attorney’s file goes quiet. Business sales run on their own closing papers, which your attorney or accountant will hold.
A worked example (illustrative only)
Take the arithmetic for each path. These numbers are illustrations, not a quote, and the lender’s own calculation governs.
On the qualifier path, say you want an $800,000 loan. You hold $330,000 in brokerage accounts (100% counts, so $330,000), $300,000 in a 401(k) while under 59½ (90% counts, so $270,000) and $200,000 in savings (100% counts, so $200,000). Together that is $800,000 of usable assets. The assets alone can cover the loan, subject to underwriting.
On the depletion path, say you hold $1,500,000 in securities (80% counts, so $1,200,000) and $300,000 in cash (100% counts). That is $1,500,000 of usable assets. Divide by 60 months and you get $25,000 of monthly qualifying income. That income then carries the housing payment and other debts through the debt-to-income test.
Where sale proceeds fit: only the net deposit counts. Money used for the down payment cannot also serve as something else. Do the subtraction before you do the math.
Key Terms Defined
- Seasoning: the holding period a lender wants funds to sit in your account before they count.
- Sourcing: documenting where a deposit came from so it does not need to season.
- Settlement statement: the closing document that shows the sale price, payoffs, costs and your net proceeds.
- Qualified intermediary: the third party who holds sale money during a 1031 exchange.
- Debt-to-income ratio: your monthly debts divided by your monthly income.
Your decision path
Three practical moves, depending on where you stand:
1. Sale already closed and posted. Check how old the deposit is on your statements. If it has aged past the statement window, you may need little beyond the account history.
2. Sale closing soon. Apply on documented proceeds if the program allows it, and ask whether the settlement statement can stand in for the holding period.
3. Timeline is tight. Restructure. Park the money in one account in your name, skip reinvestments, and consider the other path if its seasoning rules fit your documents better.
If you are weighing which path fits, Lendmire’s complete DSCR loans guide explains how rent-qualified financing differs. For more on this exact situation, see Lendmire’s piece Can Sale Proceeds Alone Qualify You for an Asset Depletion Loan?. If you are using a home sale specifically, read about qualifying on home-sale proceeds with an asset depletion mortgage.
If you are qualifying on assets rather than income and want to see how the numbers work, Lendmire can help you compare asset-based mortgage options based on your statements, the property, credit profile, leverage, and your goals. Programs are placed through select lenders in its network, and every file is underwritten individually. This is not a commitment to lend.
Frequently Asked Questions
Do sale proceeds skip the seasoning wait?
Often, but not always. A documented sale can serve as the source, so the settlement statement does the work a holding period would. On the depletion path, sale-of-business funds are excused from seasoning. A home sale is a question to put to the lender before you plan around it.
What if I already moved the money?
Moving it makes the trail harder, not impossible. Gather the settlement statement, the original deposit statement and each transfer record. The underwriter needs to follow the money from the closing to the account you are using. Keep every page.
What if part of my proceeds is in escrow or a holdback?
Escrowed money is not spendable cash yet, so it generally does not count. On the depletion path, escrow accounts are not eligible. Count only what has reached your account in your name.
Does my credit still matter?
Yes. The qualifier path has a published 600 minimum score. The depletion path follows the lender’s matrix, and a first-time investor there needs 700. Subject to underwriting, and nothing here is a promise of approval.
Is there a Georgia-specific seasoning rule?
No. The seasoning periods are program and lender policy, and the figures do not change by state. Georgia matters for how the closing is documented, not for the clock.
Lendmire’s asset-based mortgage in Georgia page presents the program for Georgia borrowers.
About Lendmire
Lendmire (NMLS# 2371349) is a mortgage brokerage serving self-employed and high-net-worth borrowers in 16 states. Bank statement, P&L-only, 1099-only and asset-based mortgages are arranged through wholesale lending channels; Lendmire brokers the financing and the lender underwrites each application. Scotsman Guide named Lendmire a Top Mortgage Workplace in both 2025 and 2026.
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References
2. Pease Bell – 1031 exchange rules
3. The Real Estate CPA – 1031 exchange guide
This article is part of Lendmire’s asset-based mortgage program — full qualification details, guidelines, and scenarios live on the program page.
Related reading: Can You Get an Asset Depletion Mortgage After a Foreclosure or Short Sale? · Is an Asset-Based Mortgage Reported to Credit Bureaus Like Any Other Mortgage? · How Much Down Payment Does an Asset Depletion Jumbo Loan Need?
Guides: Asset-Based Mortgage in Georgia
Brandon Miller
Founder & CEO, Mortgage Loan Originator, Lendmire LLC
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Disclosures. The information presented in this article is general market commentary, not financial, legal, or tax advice. Lendmire is a mortgage brokerage (NMLS# 2371349) — not a direct lender or depository institution — and loan placement is subject to lender underwriting. Nothing in this content represents a commitment to lend. Loan terms, pricing, and program availability vary based on borrower qualifications, property characteristics, and state of subject property, and are subject to change at any time. Lendmire complies with Equal Housing Opportunity requirements. Consumer access: nmlsconsumeraccess.org.