The Quick Read: Yes, for a home you will live in, you can relocate to Georgia and qualify on assets, because select asset-based programs in Lendmire’s wholesale network need no Georgia job or local paycheck, only seasoned, documented assets that cover the loan or convert into qualifying income, subject to underwriting. Which path fits depends on how large your balances are compared with the loan. A rental purchase runs through a different loan type that is reviewed on the property’s rent.
- The asset qualifier path counts eligible assets against the whole loan and documents no employment or income.
- The asset depletion path divides usable assets by 60 months to create qualifying income, which then runs through the debt-to-income test.
- Both paths document the assets in full. Income-light does not mean paperwork-light.
- Moving to Georgia does not change the program figures, and none of them sets a residency or local-employment test.
- A home you will rent out is a different product: the DSCR loan, which looks at the rent and not at your paycheck.
Does Georgia Require Local Income or Residency?
No. The program figures set no Georgia residency test and no local-employment test. The lender looks at your credit, your assets, the property, and the loan amount. Where the money was earned or where you worked last is not a qualifying factor.
That is how the asset-based loans are built. A buyer who sold a business, received an inheritance, or retired early often has large balances and no current paycheck. Moving states does not change that profile. It just means the file has no local pay stubs to show, and the program never asks for them.
Georgia is one of the 16 states where Lendmire’s consumer mortgage lending is licensed, so a Georgia home purchase fits the footprint. The state also affects things the loan terms do not control, such as local prices, taxes, and who handles the closing. Those are facts about the market, not about the program.
Every file is still underwritten individually. A missing residency test does not mean a missing review.
Key Terms Defined
Asset qualifier path: The program route where eligible assets, after the credit percentages, must equal or exceed the entire loan amount. No employment or income is documented.
Asset depletion path: The program route that turns usable assets into monthly qualifying income by dividing them by 60 months. That income must carry the housing payment and other debts.
Usable assets: The share of each account balance the program counts. A savings balance may count in full, while a retirement balance may count for less.
Seasoning: The time funds have sat in your accounts, shown by statements. It keeps a last-minute deposit from counting as an established asset.
DSCR loan: A business-purpose investor loan that qualifies primarily on property-level rental income covering the payment, subject to lender guidelines.
Debt-to-income test: The comparison of monthly debts, including the new housing payment, to monthly qualifying income. The depletion path runs through it. The qualifier path does not.
Which Path Fits a Relocating Buyer?
Start with one question: do your eligible assets cover the entire loan? If they do, the asset qualifier path is usually the cleaner fit. If they do not, but they are large, the depletion path may work. A borrower is qualified on one path at a time, never a blend of both.
The asset qualifier path. Eligible assets, after the credit percentages, must equal or exceed the whole loan. On most files, no employment and no income are documented. Through select programs, the leverage ceiling is 80% on a purchase and 75% on a refinance of a principal residence or second home. Loan amounts run up to $4,000,000, and the credit floor is 600, subject to underwriting. Whether cash-out proceeds are allowed on this path is set by the lender and is not published, so plan as if they are not.
Here is the illustrative arithmetic. Say the loan is $800,000. The borrower holds $330,000 in brokerage accounts (counted at 100%), $300,000 in a 401(k) while under age 59½ (counted at 90%, or $270,000), and $200,000 in savings (counted at 100%). That totals $800,000 of usable assets, which covers the loan, so the file is reviewed on assets alone. The lender’s own calculation governs.
The asset depletion path. Usable assets are divided by 60 months to produce monthly qualifying income. That income must carry the housing payment and other debts through the debt-to-income test. Leverage is up to 80% on a purchase or rate-and-term refinance of a principal residence or second home, and 60% on a cash-out refinance of those. Investment property is capped at 65% on a purchase or rate-and-term refinance and 60% on a cash-out. Loan amounts run from $125,000 to $3,500,000. Cash-out proceeds never count as qualifying assets.
The depletion path also sets minimum assets. 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 can never fall below $250,000. A first-time investor on this path needs a 700 score. Otherwise the credit review follows the lender’s matrix.
Here is the illustrative depletion arithmetic. Say a borrower holds $1,500,000 in securities, counted at 80% for $1,200,000, plus $300,000 in cash at 100%. That is $1,500,000 usable, divided by 60 months, for $25,000 of monthly qualifying income. That income then carries the housing payment and other debts through the debt-to-income test. A debt-heavy borrower can run short even with a large portfolio.
How Each Account Type Counts
The two paths treat the same account differently. Never mix the columns when you build a file.
| Asset | Qualifier path | Depletion path |
|---|---|---|
| Brokerage / securities | 100% | 80% |
| Cash, savings, money market | 100% | 100% (cash accounts) |
| Certificates of deposit | 100% | 100% |
| 401(k) / IRA | 90% under 59½, 100% at 59½+ | 70% at any age |
| Private stock | Not published | 75% |
| Real-estate equity | Not published | 60% |
On the depletion path, several items do not count at all: custodial accounts, deferred compensation, escrow accounts, foreign funds, cash on hand, stock options, non-vested restricted stock units, and funds from non-regulated financial companies.
Cryptocurrency, precious metals, collectibles, and business accounts beyond your ownership share are not published as eligible on either path. Pledged or borrowed funds are in the same group. The documented route is to convert them into a seasoned cash balance in a regulated account, with the source reviewed by the lender. Plan that conversion early, because seasoning applies to the converted cash.
Seasoning and Paperwork: Where Relocation Files Slip
The assets are documented on both paths. The usual friction is not the assets. It is the statement trail.
On the qualifier path, funds need 60 days of seasoning and two months of statements for each qualifying account. On the depletion path, statements must be 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, though the source is still reviewed.
Relocation creates three predictable problems:
1. Accounts opened or moved at the last minute. A new Georgia bank account with one recent deposit gives the lender little to season. Move funds before you apply, not during the file.
2. Foreign balances. Foreign funds are not eligible on the depletion path. Ask early how funds that came from abroad are treated, and expect the lender to review the source.
3. Large unexplained deposits. Proceeds from a home or business sale should be traceable to a closing statement or sale document.
Credit is the other gate. The qualifier path has a 600 floor, and the depletion path follows the lender’s score matrix. Housing history is read at 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 four years of seasoning on the depletion path. None of this changes because you moved.
Because these are consumer mortgages for a home you will occupy, standard consumer loan disclosures apply. Keep that in mind as the file assembles.
Combining Assets With a Working Spouse or Partner
A common relocation setup is one partner with a new job and one with the portfolio. The depletion path allows asset-derived income to supplement documented income, up to a 45% debt-to-income ratio. When it supplements documented income, the minimum-assets rule is waived.
That makes the depletion path more flexible for mixed households. The new job still has to be documented under the applicable program, subject to lender guidelines. The assets then close the gap.
What If the Georgia Home Is a Rental?
A rental is a different 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. The CFPB’s Regulation Z page on exempt credit covers business-purpose credit, and its exam procedures treat credit to acquire non-owner-occupied rental property as business-purpose. In plain terms, the file turns on the property, not your paycheck.
Here is how that works for a newcomer. The loan is reviewed primarily on property-level rental income covering the payment, subject to lender guidelines. For a vacant or newly bought property, the rent usually comes from the appraiser’s market rent schedule. Where a lease exists, lenders commonly look at the lower of the lease and the market figure. Your credit, down payment, reserves, and the property still get reviewed. Some select lenders in the network offer programs below 1.00 coverage, but leverage and terms adjust when they do.
Two limits matter for a mover:
- You cannot live in it. If you or your family will occupy the home, it is no longer a business-purpose loan. A DSCR loan does not finance the home you move into.
- Personal use of the proceeds changes the label. A law firm’s guide on the business purpose exemption notes that a cash-out refinance of a one-to-four-unit rental used to pay personal expenses is consumer-purpose credit.
For a full walkthrough of how these loans work, see Lendmire’s complete DSCR loans guide. The asset depletion path also covers investment property, at the lower leverage caps listed above, for a borrower who wants asset-based qualification on a rental instead.
Short-term rental rules can vary by city, county, HOA, and property type, so investors should confirm local rules before relying on projected rental income.
Buy Now, Rent First, or Pay Cash?
This is a real decision, and the loan terms do not decide it. Renting first buys time to learn neighborhoods before committing. Buying now locks in a home while your assets are intact. Paying cash avoids the loan but pulls a large amount out of your portfolio and your reserves.
Financing keeps liquid assets in place, which matters if your balances are your only income source. The depletion path does not require you to sell investments. It counts them. Still, a market drop between application and closing reduces usable assets, and a thin cushion can turn into a smaller loan or a denied file. Tax treatment varies; consult a qualified professional.
Who This Fits (and Who It Doesn’t)
It fits retirees living on portfolios, sellers of a business, recipients of an inheritance or settlement, early-retired professionals, and households between jobs that hold large balances. The common thread is large balances against small documented income.
It fits poorly in four cases:
- Thin assets. If balances do not clear the depletion minimums, the path is closed. Borrowers with income should look at income-based programs instead.
- Mostly illiquid holdings. Real-estate equity counts at 60% on the depletion path, and private stock at 75%. A net worth that sits in a business or in crypto may not convert cleanly.
- Heavy existing debt. Depletion income still has to pass the debt-to-income test.
- Deposit-based income. Self-employed borrowers who document income with bank deposits belong on a bank statement program, not this one.
The honest tradeoffs are cost and risk. These are non-agency loans, usually priced differently from conventional loans. Pricing is set by the lender and not discussed here. Portfolio swings also move the numbers.
Next Steps for a Relocating Buyer
1. List every account, its type, and its balance, then apply the percentages for the path you are testing.
2. Check the account ages against the seasoning rules and fix any gaps before applying.
3. Move foreign or recently converted funds into a regulated account and let them season.
4. Pull your credit and review your housing history.
5. Decide whether the home is a residence, a second home, or a rental, because that picks the path and the leverage.
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. Qualification is subject to lender guidelines. This is not a commitment to lend. Reach the team at 828-256-2183 or request a quote.
Frequently Asked Questions
Do I need a Georgia job or Georgia pay history to qualify on assets?
No. The qualifier path documents no employment or income, and the depletion path builds income from your assets. Neither sets a Georgia employment test. The lender still reviews credit, the assets, and the property, and every file is underwritten individually.
Do I have to be a Georgia resident first?
The program figures include no residency requirement. You can apply as you relocate, as long as the property and your occupancy are documented accurately. Lender and closing-agent logistics can differ, so ask early about how an out-of-state move affects the paperwork.
Do I have to sell my investments to use them?
No. Assets are counted, not liquidated. The qualifier path adds usable balances against the loan, and the depletion path divides them by 60 months into income. Cash-out proceeds on the depletion path never count as qualifying assets.
Can retirement accounts count?
Yes, at reduced values in most cases. On the qualifier path, a 401(k) or IRA counts at 90% under age 59½ and 100% at 59½ or older. On the depletion path, retirement accounts count at 70% at any age.
Can I use this for a Georgia rental?
A rental usually moves to a DSCR loan, which qualifies primarily on the property’s rent. The depletion path can also finance investment property, at 65% on a purchase or rate-and-term refinance and 60% on a cash-out. The qualifier path covers principal residences and second homes only.
Lendmire’s asset-based mortgage in Georgia page presents the program for Georgia borrowers.
About Lendmire
As a mortgage broker (NMLS# 2371349), Lendmire helps self-employed and high-net-worth borrowers in 16 states qualify on bank statements, a profit-and-loss statement, 1099s or liquid assets instead of tax returns, through wholesale lenders. Lendmire is never the lender; program terms are set by the lender and its guidelines. Scotsman Guide named Lendmire a Top Mortgage Workplace in both 2025 and 2026.
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References
1. CFPB – Regulation Z §1026.3, exempt transactions
2. CFPB – TILA narrative exam procedures
3. Doss Law – Business purpose exemption simplified
This article is part of Lendmire’s asset-based mortgage program — full qualification details, guidelines, and scenarios live on the program page.
Related reading: How to Qualify for an Assets-Only Jumbo Loan · How an Assets-Only Mortgage Works · How to Open a HELOC on Assets Alone With No Paycheck
Guides: Asset-Based Mortgage in Georgia
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.