The Quick Read: Yes, through select asset-based programs you can qualify for a Georgia mortgage by documenting savings and investments instead of wages, because the lender either checks that your eligible assets cover the whole loan or converts them into a monthly qualifying income, and, subject to underwriting, you do not need traditional personal-income documentation, pay stubs or employment verification. Every file is still fully underwritten, and your assets are documented with statements.
- Path one, the asset qualifier path: your eligible assets, after credit percentages, must equal or exceed the entire loan amount, and no employment or income is documented.
- Path two, the asset depletion path: usable assets are divided by 60 months to create a qualifying income, which then runs through a debt-to-income test.
- Leverage: the qualifier path goes up to 80% loan-to-value on a purchase and 75% on a refinance of a principal residence or second home, through select programs.
- Paperwork: the qualifier path wants 60 days of seasoning and two months of statements per account, and credit starts at a 600 minimum score.
Is This Program Built for You?
This route fits people whose balances are large and whose documented income is small. That group includes retirees living off a portfolio, sellers of a business, and recipients of an inheritance or a legal settlement. It also covers early-retired professionals and households whose traditional personal-income documentation shows little income even though the bank statements look strong.
A conventional lender usually asks how much you earn each month and divides your debts by that number. A borrower with seven figures in the bank and a small paycheck can fail that test on paper. Asset-based underwriting asks a different question: can your documented wealth carry this loan?
Lendmire is a mortgage broker, not a lender. Its team arranges these loans through select lenders in its network, and its consumer mortgage lending is licensed in 16 states, Georgia among them. The program figures below do not change by state.
One quick note for anyone who searched this phrase and means Georgia the country: this article is about the U.S. state.
How Do Lenders Qualify You With No Income?
Lenders use one of two paths, and a borrower is qualified on one path at a time. The first path asks whether your assets can cover the loan outright. The second path turns your assets into a monthly income figure and tests it like a paycheck.
Across the wholesale network, the right path usually depends on how much you have, how much you want to borrow, and what kind of assets you hold. A borrower with a large cash and brokerage balance relative to the loan often fits the first path. A borrower who wants a larger loan against the same assets, or who holds a mix of stocks and cash, often fits the second.
| Factor | Asset qualifier path | Asset depletion path |
|---|---|---|
| How you qualify | Assets cover the whole loan | Assets become monthly income |
| Income documented | None | Derived from assets |
| Debt-to-income test | Not used | Yes, on derived income |
| Loan size | Up to $4,000,000 | $125,000 to $3,500,000 |
| Best for | Cash-heavy borrowers | Portfolio-heavy borrowers |
Both paths are fully underwritten, and a lender reviews credit, the property and the assets before any approval. Nothing here is a commitment to lend.
What Counts as an Asset?
Not every dollar counts at face value. Each path gives you credit for a share of each balance, and the shares differ.
Asset qualifier path: share of the balance that counts.
| Asset type | Share counted |
|---|---|
| Brokerage accounts | 100% |
| Certificates of deposit | 100% |
| Money market accounts | 100% |
| Savings accounts | 100% |
| 401(k) and IRA, under age 59½ | 90% |
| 401(k) and IRA, age 59½ or older | 100% |
Accounts combine, so you can add them together toward the loan amount.
Asset depletion path: share of the balance that counts.
| Asset type | Share counted |
|---|---|
| Cash accounts | 100% |
| Certificates of deposit | 100% |
| Securities | 80% |
| Private stock | 75% |
| Retirement accounts (any age) | 70% |
| Real-estate equity | 60% |
Several items are not eligible on the depletion path. These include custodial accounts, deferred compensation, escrow accounts, foreign funds and cash on hand. Stock options, non-vested restricted stock units and funds from non-regulated financial companies are also out.
Cryptocurrency, precious metals, collectibles, pledged or borrowed funds, and business accounts beyond your ownership share are not published as eligible on either path. The documented route is to convert them to cash and let the balance season in a regulated account. The lender then reviews where the money came from.
What Does the Math Look Like?
Here are two illustrations. They are simplified, and the lender’s own calculation governs.
Asset qualifier example. Say you want an $800,000 loan. You hold $330,000 in brokerage accounts, which counts at 100%, so $330,000 counts. You hold $300,000 in a 401(k) and you are under 59½, so it counts at 90%, which is $270,000. You also hold $200,000 in savings, counted at 100%, so $200,000 counts. Together that is $800,000 of usable assets against an $800,000 loan, so the file is reviewed on assets alone, subject to underwriting.
Asset depletion example. Say you hold $1,500,000 in securities, counted at 80%, which is $1,200,000. You also hold $300,000 in cash, counted at 100%. That makes $1,500,000 of usable assets. Divided by 60 months, it produces $25,000 of monthly qualifying income. That income then has to carry the housing payment and your other debts through the debt-to-income test.
The double-count trap
Money you spend cannot qualify you twice. On most files, the lender counts what remains after you fund the down payment and closing costs. If your statements show a big balance but part of it is earmarked for the purchase, plan the numbers on what is left. Run this check before you make an offer, not after.
On the depletion path, cash-out proceeds never count as qualifying assets either.
How Much Can You Borrow, and What Credit Do You Need?
Leverage depends on the path, the transaction and how you will use the home. These are ceilings on select programs, not 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. Cash-out terms on this path are set by the lender and are not published.
- Asset depletion path, principal residence or second home: up to 80% on a purchase or rate-and-term refinance and 60% on a cash-out refinance.
- Asset depletion path, investment property: up to 65% on a purchase or rate-and-term refinance and 60% on a cash-out refinance.
Credit still matters. The qualifier path publishes a 600 minimum score. The depletion path follows the lender’s matrix of score and loan amount. A first-time investor on the depletion path needs a 700 score.
Housing history is typically 0x30x12, meaning no 30-day lates in the last twelve months. One late payment in that window is considered case by case. Multiple bankruptcies are not eligible, and a housing event such as a foreclosure needs 4 years of seasoning on the depletion path.
The depletion path also has asset minimums. You need qualified assets of at least the lesser of $1,000,000 or 1.25 times the loan balance. When assets are your only income source, you also need at least $250,000 in liquid assets.
On the qualifier path, no reserves are required at or below 75% loan-to-value, and above that the lender sets them. The depletion path has no published reserve months.
Which Path Should You Pick?
Start with the shape of your balance sheet and the size of the loan. If your eligible assets, after credit percentages, add up to at least the whole loan, the qualifier path is cleaner, because it asks for no income math at all. This is the genuine toss-up for many buyers, though, since the depletion path can reach larger purchases at lower leverage.
If your assets are smaller than the loan, the depletion path may still work, as long as the derived income can carry the payment and clear the debt test. It also suits borrowers who hold securities, because 80% credit on a large portfolio can produce meaningful monthly income.
Depletion can also supplement documented income. If you have Social Security, a pension or part-time earnings, asset-derived income can fill the gap up to a 45% debt-to-income ratio. When assets supplement income this way, the minimum-assets rule is waived.
What about buying a rental?
The asset depletion path is the one that covers investment property, and it carries the lower leverage shown above. Because those loans are business-purpose investor loans, they are reviewed differently from a standard owner-occupied mortgage.
For a pure rental purchase, many investors find that a loan qualified on the property’s rent is the more natural fit. In that structure the property qualifies primarily on rental income covering the payment, subject to lender guidelines, and your savings serve as the down payment and cushion. Savings alone do not approve a rental loan.
Other programs measure different things. Bank statement loans are for borrowers who document income through deposits, so they suit the self-employed rather than a household living off a portfolio. FHA, VA and USDA loans carry their own income-based rules, which is why they rarely fit an income-light borrower.
Why Is This Not the Old Stated-Income Loan?
The older stated-income loans let borrowers claim earnings without proof. Those loans are gone, and asset-based programs work differently. A lender has to look at your income or your assets, and then verify whatever it relies on.
The federal ability-to-repay rule lists eight factors a lender must consider. The first is your current or reasonably expected income or assets, excluding the value of the home that secures the loan, according to the CFPB’s ATR/QM compliance guide. Employment status matters only if the lender relies on employment income.
Verification must use third-party records that provide reasonably reliable evidence, as set out in 12 CFR 1026.43. Financial-institution account statements are the natural fit for a borrower who relies on assets.
That is why the phrase no income does not mean no paperwork. Your balances are the thing being verified, and your credit and the property are still reviewed.
What Will You Need to Gather?
Seasoning is the waiting period during which funds must sit in your account before they count. The two paths treat it differently.
- Asset qualifier path: 60 days of seasoning and two months of statements for each qualifying account.
- Asset depletion path: 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.
Beyond statements, expect to provide ID, the purchase contract and an appraisal. The lender will also want a source for any large deposit.
A few habits protect the file. Avoid moving money between accounts without a reason. Avoid opening new debt before closing. If you plan to sell investments to build a cash balance, talk to the lender first, because the timing affects seasoning. Tax treatment can depend on how the funds are used and how the property is held; borrowers should keep clear records and speak with a qualified tax professional before relying on any deduction.
What Should Georgia Borrowers Know?
The program figures are the same in Georgia as anywhere else the program is offered. Georgia is one of the 16 states where Lendmire’s consumer mortgage lending is licensed, so a Georgia borrower can pursue this route.
Local facts shape the budget but not the program. Insurance and carrying costs vary by county across Georgia, so confirm them for your specific address before you commit. The lender reviews the property, and on the depletion path your derived income has to carry the full housing payment.
Edge Cases and Risks
Recently retired. Your documented income may have just dropped to zero, which is exactly the situation this program was designed for. The question is whether your assets can carry the loan on the path you choose.
Business sale, inheritance or settlement. These funds are excused from the 120-day statement age on the depletion path. The lender still documents where the money came from.
A spouse or co-borrower with income. Documented income can pair with asset-derived income on the depletion path, up to the 45% debt-to-income limit.
Market swings. Your asset values are a moving target, and a lender reviews your statements before closing. A drop in a stock portfolio can reduce the usable balance, and securities count at only 80% on the depletion path. A cash cushion above the minimum gives you room if markets fall.
Retirement accounts. They count, but at a reduced share. On the qualifier path they count at 90% under age 59½ and 100% after. On the depletion path they count at 70% at any age.
Key Terms Defined
Asset qualifier path: a way of qualifying in which your eligible assets, after credit percentages, must equal or exceed the entire loan amount.
Asset depletion path: a way of qualifying in which usable assets are divided by 60 months to create a monthly qualifying income.
Seasoning: the period your funds must sit in an account, shown through statements, before a lender counts them.
Debt-to-income ratio: your monthly debts, including the new housing payment, divided by your monthly qualifying income.
Loan-to-value (LTV): the loan amount divided by the property’s value.
Frequently Asked Questions
Do I have to sell my investments to qualify?
No. The lender documents your assets with statements and counts a share of their value. Your portfolio stays invested, though funds you use for the down payment and closing costs leave the count.
Can I use a retirement account?
Yes. On the qualifier path, 401(k) and IRA balances count at 90% under age 59½ and 100% at 59½ or older. On the depletion path they count at 70% at any age, subject to underwriting.
Does a lender still check my credit?
Yes. Expect a credit review on either path. The qualifier path publishes a 600 minimum score, and the depletion path follows the lender’s matrix.
Can I buy an investment property this way?
Only on the asset depletion path, at up to 65% loan-to-value on a purchase and 60% on a cash-out refinance. Many rental buyers instead use a loan that is reviewed on the property’s rent, with savings as the down payment and cushion.
What if my assets are in crypto or collectibles?
They are not published as eligible on either path. The documented route is to convert them to cash in a regulated account, let the balance season, and have the program review the source of the funds.
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. You can start with the asset-based mortgage program or call 828-256-2183.
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.
Investors who want the broader program framework can review how DSCR loans work.
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Informational only. Not a Loan Estimate, approval, or commitment to lend. Program availability and eligibility are subject to lender guidelines, credit approval, property review, and underwriting.
References
1. CFPB ATR/QM Small Entity Compliance Guide
2. Cornell LII, 12 CFR 1026.43
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 Refinance a Pennsylvania Mortgage After Retiring With No W-2 Income · Can You Get a Mortgage in Virginia With No Income but a Lot of Savings? · Can You Qualify for a Mortgage If Your Income Is in a Foreign Currency?
Guides: Asset-Based Mortgage in Georgia
Brandon Miller
Founder & CEO, Mortgage Loan Originator, Lendmire LLC
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Required disclosures. Lendmire (NMLS# 2371349) operates as a licensed mortgage broker, not a direct lender or depository. The discussion in this article is general in nature and should not be relied upon as financial, legal, or tax advice — every investment scenario is unique and should be reviewed by a qualified professional. Any loan inquiry is subject to lender underwriting, and this article is not a commitment to lend or a guarantee of approval. Mortgage rates, loan terms, and program guidelines vary by borrower, property, and state, and may change without notice. Equal Housing Opportunity. Verify licensure at NMLS Consumer Access.