The Quick Read: Yes, when every person who owns an account you want to count is also a borrower on the loan, because those eligible balances are added into one qualifying pool, and the pooled total, after the program’s credit percentages, must equal or exceed the entire loan amount. Colorado borrowers use the same program figures as everyone else, subject to underwriting.
- Both people go on the note, and both go through the credit review.
- Each account counts at its own percentage, so a retirement account counts for less than savings.
- Accounts that include someone who is not a borrower are the main trouble spot.
- The same dollars cannot be counted twice, so plan around what is left after closing.
Consumer mortgage lending through Lendmire is available in Colorado, one of 16 states where it is licensed. Lendmire is a broker. It arranges these loans through select lenders in its network, and the lender underwrites and approves every file.
What “Combining” Actually Means
Combining means the lender adds up each borrower’s eligible balances, applies the credit percentage to each account, and compares the total to the loan. Nobody’s accounts are merged at the bank. Nothing is sold or pledged. The lender is measuring capacity, and the money stays where it is.
On this program’s asset qualifier path, no employment or income is documented. The eligible assets must cover the whole loan. That is why pooling matters so much for couples and partners, since one person’s balances often fall short while two people’s together clear the bar.
A quick way to picture it: one partner holds the brokerage account and a 401(k), the other holds the savings. Alone, neither covers the loan. Together they might.
The Worked Example for Two Borrowers
Here is an illustration of how it adds up. The lender’s own calculation governs, and every file is underwritten individually.
Say two borrowers are applying for an $800,000 loan on the asset qualifier path. Borrower A holds $330,000 in brokerage accounts and a $300,000 401(k) and is under age 59½. Borrower B holds $200,000 in savings.
| Account | Owner | Counts at | Usable |
|---|---|---|---|
| Brokerage | Borrower A | 100% | $330,000 |
| 401(k), under 59½ | Borrower A | 90% | $270,000 |
| Savings | Borrower B | 100% | $200,000 |
| Total | Both | $800,000 |
The usable total equals the loan, so the file is reviewed on assets alone, subject to underwriting. Neither borrower could have done that alone.
Retirement accounts are the line that surprises people. On the qualifier path, a 401(k) or IRA counts at 90% if the holder is under 59½ and at 100% at 59½ or older. When one partner is older, the percentage generally follows the person who owns the account, so the age gap between co-borrowers can shift the total. The lender confirms how it applies the age test on a two-borrower file.
Whose Accounts Count?
The rule of thumb across our wholesale network is simple: if a name is on the account, that person should be on the loan. Programs diverge from there, so the table below shows the typical treatment and what to expect.
| Account situation | Typical treatment | What to document |
|---|---|---|
| Individual, borrower | Counts at its asset percentage | Two months of statements |
| Joint, both borrowers | Counts in full | Statements showing both names |
| Joint, one is not a borrower | Program-specific | Lender decides on full or proportional share |
| Business or entity account | Generally excluded | Move funds to a personal account first |
| Trust account | Narrow, program-specific | Trust documents, lender review |
| Crypto, metals, collectibles | Not published as eligible | Convert to seasoned cash in a regulated account |
Most programs we place files with want every account holder on the note. A few lenders in the network will count a proportional share of an account with a non-borrowing owner. The strictest overlays exclude those accounts entirely. If your account has a spouse, parent or partner on it who is not applying, ask before you build your plan around it.
Joint titling is also not a magic word. Joint accounts can be survivorship or convenience accounts, which is why lenders look at ownership and access, not just the names printed on a statement. Plan to show that both borrowers can reach the funds.
Gift funds, borrowed funds and pledged funds do not count at a percentage on either path. The documented route is moving the money into a regulated account and seasoning it.
Does the Co-Borrower Have to Live There?
Not necessarily, but the program you choose matters. Pooling is generally easiest for spouses and partners buying a home they will both occupy. A parent and adult child, siblings, or friends co-buying can work in many programs, since each person simply adds their eligible accounts to the pool. Some programs, however, exclude a non-occupant co-borrower’s assets, so confirm that before applying.
Adding a co-borrower to unlock assets also adds that person to the note and the credit review. Everyone on the loan carries the debt. That is a financial and legal decision, not paperwork, and it deserves a real conversation first. The lender reads each borrower’s credit through its score and loan-amount matrix, and the path’s 600 minimum score is a floor, never a promise.
Pooling on the Asset Depletion Path
The second path works differently, and a borrower is qualified on one path at a time. On the asset depletion path, eligible assets become monthly income. Usable assets are divided by 60 months, and that income carries the housing payment and other debts through the debt-to-income test.
Here the credit percentages are different, so do not mix the two tables. Cash accounts and certificates of deposit count at 100%, securities at 80%, private stock at 75%, retirement accounts at 70% at any age, and real-estate equity at 60%.
An illustration: two borrowers together hold $1,500,000 in securities, which count at 80% for $1,200,000, plus $300,000 in cash at 100%. That is $1,500,000 usable. Divided by 60 months, it produces $25,000 of monthly qualifying income, which then has to carry the housing payment and other debts through the debt-to-income test.
Two program minimums apply here. Qualified assets must be at least the lesser of $1,000,000 or 1.25 times the loan balance. When depletion is the only income source, liquid assets must also be at least $250,000. Asset-derived income can also supplement documented income up to a 45% debt-to-income ratio, and when it supplements, the minimum-assets rule is waived.
This path is also where an income-and-assets couple fits. Say one partner is retired with a large portfolio and the other still draws a salary. The retired partner’s assets can supplement the working partner’s documented income under the applicable program, subject to lender guidelines.
Leverage and Loan Size by Path
The loan size and leverage differ on each path, and both figures are ceilings, never offers.
- Asset qualifier path: up to 80% loan-to-value on a purchase and 75% on a refinance, on a principal residence or second home, with loans up to $4,000,000. Reserves are not required at or below 75% loan-to-value. Above that, the lender sets them.
- Asset depletion path: up to 80% on a purchase or rate-and-term refinance and 60% on a cash-out refinance, on a principal residence or second home. On an investment property it is up to 65% on a purchase or rate-and-term refinance and 60% on a cash-out. Loans run from $125,000 to $3,500,000.
Cash-out proceeds never count as qualifying assets on the depletion path. The qualifier path does not publish a cash-out figure, so do not plan around one.
The Same Dollar Cannot Do Two Jobs
This is where pooled files stall. A balance you count as qualifying assets is not free to spend on something else. The down payment, the closing costs and anything else you pay out comes out of the same balances.
Plan around what remains after closing, not around today’s statement. If the pool only clears the loan with the money you are about to hand over as a down payment, the file will fall short. Do the subtraction before you apply.
The same logic applies to income. Dividends and interest from the accounts you are counting should not also be counted as separate income on top of depletion income.
Moving Money Between Co-Borrowers
Transfers between your accounts are the other common snag. Both paths require seasoning. The qualifier path wants 60 days of seasoning and two months of statements for each qualifying account. The depletion path wants statements at least 120 days old at application, plus the most recent statement within 45 days. Sale-of-business, inheritance and legal-settlement funds are excused from that seasoning on the depletion path.
If you retitle an account or move funds from one borrower to the other, the lender will want to see where the money came from and how long it has been there. Sort out titling before you apply. Moving $200,000 around a month before you apply can turn a clean file into a paper chase.
The assets are documented on both paths. No income is documented on the qualifier path, but that never means no documentation.
Where the Federal Rule Fits
The loan is a consumer mortgage, so the federal ability-to-repay rule applies. Regulation Z’s rule at 12 CFR 1026.43 lets a creditor base repayment ability on income, on assets other than the home securing the loan, or on both. It lists savings or checking funds, vested retirement amounts, stocks, bonds and certificates of deposit as examples.
The rule does not say whether co-borrowers may pool, which is why pooling is a lender guideline matter. It does require the lender to verify what it relies on, as the eCFR text of the rule spells out. That is why every account used must be documented and tied to a named borrower.
Is This a DSCR Loan?
No. A DSCR loan is reviewed for the property, based primarily on rental income covering the payment, subject to lender guidelines. An asset qualifier mortgage qualifies the borrower on assets. They are different tools, and the asset path is for borrowers whose balances are large and whose documented income is not.
If you are buying a pure rental through a business-purpose loan, that is DSCR territory, and Lendmire’s complete DSCR loans guide covers how it works. If you want an investment property on an asset path, only the depletion path allows it, at the lower leverage shown above.
Common Mistakes With Pooled Files
- Assuming a spouse’s accounts count automatically. They count when that person is a borrower, or when the program allows a share of an account with a non-borrowing owner.
- Treating the statement balance as the pool. The pool is the balance after percentages and after cash to close.
- Counting business money. Entity-held funds are generally excluded.
- Forgetting the retirement percentage. On the qualifier path, a 401(k) under 59½ counts at 90%, not 100%.
- Mixing the two paths. Qualifier figures and depletion figures never blend on one file.
Before you apply, gather two months of statements for every account, a list of who is named on each one, and a rough plan for the down payment and closing costs. Lendmire’s piece Do You Have to Liquidate Assets to Reserve an Asset Qualifier Mortgage? covers the pledging question.
Key Terms Defined
Asset qualifier path: a program path where eligible assets, after credit percentages, must equal or exceed the whole loan, with no employment or income documented.
Asset depletion path: a path that divides usable assets by 60 months to create monthly qualifying income, which then goes through the debt-to-income test.
Co-borrower: a person who signs the note, shares responsibility for the loan, and is included in the credit review.
Seasoning: the length of time funds have been in an account, which the lender checks through statements.
Haircut: the share of an account’s balance the program does not count, such as the 20% off securities on the depletion path.
Frequently Asked Questions
Can my spouse’s accounts count if only I am on the loan?
Usually not. Most programs want every account holder on the note, though a few lenders in the network count a proportional share of an account that includes a non-borrowing owner. Adding your spouse as a borrower is the cleaner route, and it also puts them on the credit review and the debt. Treatment is program-specific, so confirm it with the lender before you plan around the balance.
Do both borrowers need to live in the home?
Not always, but some programs exclude a non-occupant co-borrower’s assets. A spouse or partner moving in together is the simplest case. A parent and adult child or two friends co-buying works in many programs, but ask before you apply.
Can one of us use assets while the other uses a paycheck?
Yes, on the depletion path. Asset-derived income can supplement documented income up to a 45% debt-to-income ratio, and when it supplements, the minimum-assets rule is waived. The qualifier path documents no income at all. Either way, the lender’s own calculation governs.
Do we have to sell the investments or empty the accounts?
No. The assets are not sold or pledged. The lender uses them to measure capacity, though you still need enough left after closing to pay cash to close and keep the pool intact.
Does a Colorado address change the numbers?
No. Program percentages, leverage and loan amounts are the same in every state. Colorado is one of 16 states where Lendmire’s consumer lending is licensed, and everything remains subject to underwriting.
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 Colorado page presents the program for Colorado 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
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 vs Asset Depletion for an Heir · Asset Qualifier vs Asset Depletion for a FIRE Household · Joint vs Individual Accounts on an Asset Depletion Mortgage
Guides: Asset-Based Mortgage in Colorado
Brandon Miller
Founder & CEO, Mortgage Loan Originator, Lendmire LLC
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Legal disclosures. Lendmire (NMLS# 2371349) is a state-licensed mortgage brokerage that arranges financing through wholesale lender relationships. Lendmire is not a direct lender, depository institution, or registered financial advisor. The discussion above is general informational content about real estate financing — it is not financial, legal, or tax advice, and readers should consult licensed professionals for guidance on their individual circumstances. Loan inquiries are subject to lender underwriting; this article does not represent a commitment to lend. Loan terms, rates, and qualification standards vary by borrower, property, and state, and are subject to change at any time. Equal Housing Opportunity. NMLS Consumer Access: nmlsconsumeraccess.org.