The Quick Read: Usually yes, as long as each account holder is also a borrower on the loan: on the asset qualifier path, the eligible balances of both co-borrowers are added together and must cover the whole loan amount, subject to underwriting and the lender’s own calculation. Account titling is the deciding variable. Indiana does not change the program figures, which are the same for every borrower in the states where the program is available.
- Both names on the loan: accounts held by either borrower, or jointly, generally count toward one combined pool.
- One name on the loan: an account held only by a non-borrower usually does not count, because the lender cannot rely on assets the borrower does not own.
- Credit still matters: each borrower’s credit is reviewed, so a weak co-borrower can cost more than their balances add.
- Qualifier path limits: through select programs, up to 80% loan-to-value on a purchase and 75% on a refinance (principal residence or second home), with loans up to $4,000,000.
- Seasoning: 60 days of seasoning and two months of statements for each qualifying account.
Two Paths, and Which One Fits You
Asset-based mortgages come in two forms, and a borrower is qualified on one at a time. The first is the asset qualifier path. Eligible assets, after the credit percentages below, must equal or exceed the entire loan amount. No employment or income is documented.
The second is the asset depletion path. Eligible assets, after haircuts, are divided by 60 months to create a monthly qualifying income. That income must carry the housing payment and other debts through a debt-to-income test.
This guide is written for a cash-heavy, income-light household. Think of retirees, people who sold a business, heirs, settlement recipients, early-retired professionals, and families living off a portfolio. Balances are large, and documented income is not. Co-borrowing is common in these households because the money is often spread across spouses, partners, or parents and adult children.
Pick the path first, because the account-combining rules play out differently on each one. Most of this article follows the qualifier path, since that is what the title asks about. The depletion path gets its own section later.
Can Two Borrowers Really Pool Their Accounts?
Yes, when both people are on the loan and the accounts are verified in their names. Across the lenders in Lendmire’s wholesale network, the qualifier path adds up eligible balances from all borrowers. The total, after the credit percentages, is compared with the loan amount. Nothing in the program says the money must sit in one account or one name.
That is the general rule. Underwriting still looks at every account on its own merits. The lender asks four questions about each one:
1. Does it belong to a borrower on the loan?
2. Is the balance liquid, or does it have a retirement-account percentage?
3. Is it documented with the required statements?
4. Has it been seasoned long enough?
Pooling is something a program allows, not something the borrower is owed. A few programs add overlays. For example, a lender may take a closer look at assets held by someone who will not live in the home. Ask for the program sheet before you assume a particular account counts.
How Each Asset Type Counts
On the qualifier path, these are the shares of each balance that count:
| Asset type | Share that counts |
|---|---|
| Brokerage accounts | 100% |
| Certificates of deposit | 100% |
| Money market | 100% |
| Savings | 100% |
| 401(k) or IRA, under age 59½ | 90% |
| 401(k) or IRA, age 59½ or older | 100% |
Notice that the age test applies to the account holder. If one co-borrower is 62 and the other is 55, the older borrower’s retirement account counts at 100% and the younger one’s counts at 90%. Pooling does not blend the ages. Each account is tested by its own owner.
Cryptocurrency, precious metals, collectibles, and business accounts beyond your ownership share are not published as eligible on either path. The same is true of pledged or borrowed funds. The documented route is to convert them into a seasoned cash balance in a regulated account. The lender then reviews the source of that cash.
What Happens in Each Ownership Scenario
Titling decides most of the answer. Here is how the common setups usually play out. Every row is conditional on the program sheet and the lender’s review.
| Account setup | Can it count? | What the lender likely wants |
|---|---|---|
| Joint account, both on loan | Usually yes | Two months of statements |
| Individual account, owner on loan | Usually yes | Statements in that borrower’s name |
| Account of a spouse not on the loan | Usually no | Add the spouse as a borrower |
| Account of a relative not on the loan | Usually no | Add them, or retitle early |
| Trust or LLC account | Case by case | Ownership share and trust papers |
Joint accounts. These are the easiest, because both borrowers are on the statement and on the loan. The full balance counts at the applicable percentage.
Individual accounts. Each borrower can contribute accounts in their own name. The lender wants statements showing the account holder, and the holder must be a borrower.
A non-borrowing spouse. This is the trap many couples miss. A spouse’s savings do not help if that spouse is not on the loan. The fix is simple: add them as a co-borrower, understanding that their credit and debts then enter the file.
Relatives and partners. Unmarried partners and family members can co-borrow, and their accounts can pool the same way. The same rule applies: a person who owns assets but stays off the note usually cannot lend those assets to the file.
Trusts and business accounts. These depend on who actually owns the money and how much of it is yours. A business account counts only up to the borrower’s ownership share, and the lender reviews the paper trail. Programs differ here, so raise it before you apply.
A Worked Example With Two Borrowers
Run the numbers on a couple seeking an $800,000 loan on the qualifier path. These figures are illustrative, and the lender’s own calculation governs.
Borrower A holds $330,000 in brokerage accounts and $200,000 in savings. Both count at 100%, so $530,000 is usable. Borrower B holds $300,000 in a 401(k) and is under age 59½, so it counts at 90%, or $270,000.
Add the two together: $330,000 plus $200,000 plus $270,000 equals $800,000 of usable assets. That equals the loan amount, so the file can qualify on assets alone, subject to underwriting.
Two things sit outside that arithmetic. First, the down payment and closing funds must also be documented, and you should ask the lender how they are treated against the pool. Second, each account still needs its own 60 days of seasoning and two months of statements. Pooling adds the totals. It does not waive the paperwork on any single account.
What Changes on the Asset Depletion Path
The depletion path works differently. Usable assets, after haircuts, are divided by 60 months to produce monthly qualifying income. Co-borrowers can pool here too, and the combined income is tested against both borrowers’ debts.
These are the haircuts on the depletion path:
| Asset type | Share that counts |
|---|---|
| Cash accounts | 100% |
| Certificates of deposit | 100% |
| Securities | 80% |
| Private stock | 75% |
| Retirement accounts (any age) | 70% |
| Real-estate equity | 60% |
Consider a household where one borrower holds $1,500,000 in securities and the other holds $300,000 in cash. The securities count at 80%, or $1,200,000. The cash counts at 100%, or $300,000. That is $1,500,000 usable. Divided by 60 months, it produces $25,000 of monthly qualifying income. That income then carries the housing payment and all other debts through the debt-to-income test.
Compared with the qualifier path, a few differences matter:
- Retirement accounts count less. They are 70% at any age here, versus 90% or 100% on the qualifier path.
- Investment property is allowed. Leverage is up to 65% on a purchase or rate-and-term refinance and 60% on a cash-out. For a principal residence or second home, it is up to 80% on a purchase or rate-and-term refinance and 60% on a cash-out.
- Minimum assets apply. Qualified assets must be at least the lesser of $1,000,000 or 1.25 times the loan balance. They can never fall below $250,000 liquid when depletion is the only income source.
- Loan amounts run from $125,000 to $3,500,000.
- Credit follows the lender’s matrix. A first-time investor on this path needs a 700 score.
Cash-out proceeds never count as qualifying assets on the depletion path. Statements must be at least 120 days old at application, plus the most recent one within 45 days. Sale-of-business, inheritance, and legal-settlement funds are excused from that seasoning.
Mixed Files: One Borrower on Wages, One on Assets
Some couples have one working spouse and one retired spouse with a large portfolio. Asset-derived income can supplement documented income on the depletion path, up to a 45% debt-to-income ratio. When it supplements, the minimum-assets rule is waived.
How a lender treats wages when the wage earner is also an owner of the asset accounts is a program-specific call. The same goes for any pension or Social Security that comes from accounts you are also depleting. Assets used for depletion income cannot also be counted as another income stream. Ask the lender how it treats a borrower who appears on both the wage and asset side.
Moving Money Between Co-Borrowers
Moving funds before you apply can create trouble. On the qualifier path, each qualifying account needs 60 days of seasoning and two months of statements. A balance that lands in an account last month has not had its time.
A few practical habits help:
- Decide who will hold what early. If you plan to retitle an account or consolidate funds, do it before the seasoning clock matters.
- Keep the paper trail clean. A transfer between two co-borrowers should be visible on both sets of statements.
- Treat outside money differently. A gift from someone who is not on the loan is a separate item the lender must review, and it may not count as a qualifying asset.
- Skip unnecessary moves. If an account already belongs to a borrower, leave it where it is. Documented history is worth more than tidy titling.
None of this requires selling anything. The asset qualifier calculation is a paper test of your balances. For more on that point, see Lendmire’s piece Do You Have to Liquidate Assets to Reserve an Asset Qualifier Mortgage?.
Retirement Accounts Held by One Borrower
A retirement account counts when its owner is on the loan. The owner’s age sets the qualifier-path percentage, 90% under 59½ and 100% at 59½ or older. If only one co-borrower has the retirement account, only that account is affected by the age test.
The practical question is whether the lender treats a retirement balance as accessible. Statements for each retirement account are required, and some programs look at withdrawal restrictions. For more on how these accounts are handled, see Lendmire’s piece How to Use Retirement Accounts for Reserves on an Asset Depletion Mortgage. Tax treatment varies; consult a qualified professional.
The Federal Baseline, Briefly
Federal rules set a floor, not a program. Under the CFPB’s ability-to-repay rule in Regulation Z, a lender may base its repayment decision on income, on assets other than the home being financed, or on both. That is the foundation for asset-based consumer mortgages.
For joint applicants, the Federal Register preamble to the rule explains that a lender does not have to count assets that are not needed. It also says the current debts of all joint applicants must be considered. So combining is permitted but not required, and a co-borrower’s debts still count.
That is why you will see two kinds of lender behavior. Some programs pool every borrower’s accounts. Others use only what is needed to qualify. The program sheet tells you which one you are dealing with.
Where This Differs From a DSCR Loan
DSCR loans are designed for non-owner-occupied investment properties. Because they are business-purpose investor loans, they are reviewed differently from a standard owner-occupied mortgage.
A DSCR loan is reviewed primarily on property-level rental income covering the payment, subject to lender guidelines. It does not turn on your balance sheet. An asset-based mortgage is the opposite: your statements carry the file. If you are buying a pure rental and want the property’s income to do the work, the complete DSCR loans guide explains how that path works.
Many investors with big balances use both over time. Asset-based financing can fit a home you will live in or a second home. DSCR financing can fit the rentals.
Indiana Considerations
Nothing in the program is Indiana-specific. The leverage limits, asset percentages, seasoning periods, and loan amounts are the same for an Indiana borrower as for a borrower in any other state where the program is offered. Lendmire arranges consumer asset-based mortgages in Indiana as one of 16 states where it is licensed for consumer lending.
State facts do matter to the transaction itself. How a couple takes title, and what each person signs at the closing table, are questions for the title company or a real estate attorney. They are context, not program parameters.
Risks and Who Makes a Good Co-Borrower
A co-borrower shares liability for the whole loan. If the relationship changes, the debt stays with both names. Title and loan responsibility are separate things, so being on the deed does not automatically mean being on the note, and the reverse is also true.
A good co-borrower has three things: large, well-documented balances, a clean credit history, and low personal debt. A person with big accounts and heavy debts can look attractive on paper and still hurt the file.
Keep these points in mind:
- Credit counts for every borrower. The qualifier path has a 600 minimum score. The lender’s rules determine how multiple scores are handled, so ask which score governs.
- Housing history matters. The program looks for 0x30x12, and one 30-day late in the last twelve months is considered case by case.
- Multiple bankruptcies are not eligible. A housing event needs 4 years of seasoning on the depletion path.
- Reserves differ by path. None are required at or below 75% loan-to-value on the qualifier path. Above that, the lender sets them. The depletion path publishes no reserve months.
Key Terms Defined
Co-borrower: A person who signs the loan note and shares responsibility for repayment, whether or not they also appear on the deed.
Asset qualifier path: A way to qualify where eligible assets, after the credit percentages, must equal or exceed the full loan amount, with no income documented.
Asset depletion path: A way to qualify where eligible assets, after haircuts, are divided by 60 months to create monthly qualifying income.
Haircut: The share of an asset’s balance that the lender discounts because it is less liquid or carries more risk.
Seasoning: The length of time funds have to sit in an account before the lender counts them.
Debt-to-income ratio: Monthly debts divided by monthly income, used on the depletion path to see whether income can carry the housing payment.
Before You Apply: A Short Checklist
1. List every account by owner, type, and balance.
2. Mark which accounts belong to someone who will be on the loan.
3. Decide whether a non-borrowing owner should join the loan or stay off it.
4. Gather two months of statements for each qualifying account.
5. Avoid moving large balances in the weeks before you apply.
6. Pull credit for every borrower and review it together.
When you talk to a lender, ask these questions: Are all borrowers’ accounts pooled? Are assets of a non-occupant co-borrower treated differently? Which credit score governs? How are down payment and closing funds counted against the pool? What does the program sheet say about trust-held accounts?
Frequently Asked Questions
Can my spouse’s account count if they are not on the loan?
Usually not. The lender relies on assets owned by the people who sign the note. If your spouse’s savings matter to the file, the typical fix is to add your spouse as a co-borrower. That brings their credit and debts into the review as well.
Can I combine a joint account with my own individual account?
Yes, in most programs, as long as the joint account lists you and the other borrower is on the loan. Each account is documented on its own with the required statements. The lender then adds the eligible totals, subject to underwriting.
Do both of us need to be on every account?
No. Each borrower can hold accounts in their own name, and the balances pool. What matters is that every account holder is a borrower and that each account is documented and seasoned.
Can unmarried partners or family members pool accounts?
Generally yes, when each person is a borrower on the loan. Relationship status is not the test. Ownership and loan participation are. Remember that each co-borrower shares full liability for the debt.
Does pooling mean we have to sell investments?
No. Both paths are paper calculations on your balances. The lender reviews your statements and applies the credit percentages or haircuts. You keep the investments, and the lender’s own calculation governs.
Next Step
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.
Lendmire’s asset-based mortgage in Indiana page presents the program for Indiana 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
1. CFPB Regulation Z, §1026.43 (ability to repay)
2. Federal Register: Ability-to-Repay and Qualified Mortgage Standards Under the Truth in Lending Act
This article is part of Lendmire’s asset-based mortgage program — full qualification details, guidelines, and scenarios live on the program page.
Related reading: Asset Qualifier Mortgage vs Bank Statement Mortgage · What Counts as an Asset Statement for a Mortgage? · Asset Qualifier vs Asset Depletion for a Tech Employee
Guides: Asset-Based Mortgage in Indiana
Brandon Miller
Founder & CEO, Mortgage Loan Originator, Lendmire LLC
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Important disclosures. Lendmire (NMLS# 2371349) is a licensed mortgage brokerage. Lendmire is not a direct lender, depository institution, or financial advisor. All loan inquiries are subject to lender underwriting; this article does not constitute a commitment to lend. Rates, terms, and program guidelines are subject to change without notice and vary by borrower profile, property type, and state. Information in this article is general in nature and is not financial, legal, or tax advice. Equal Housing Opportunity. NMLS Consumer Access: nmlsconsumeraccess.org.