The Quick Read: It depends on the path, because no national minimum exists: on the asset qualifier path, eligible assets must cover the entire loan, while on the asset depletion path you generally need the lesser of $1,000,000 or 1.25 times the loan, and never under $250,000 liquid, subject to underwriting. Each path is fully underwritten, and your assets are documented with statements. The difference is that you submit no traditional personal-income documentation, pay stubs or employment verification.
- Qualifier path: eligible assets, after credit percentages, must equal or exceed the whole loan.
- Depletion path: usable assets are divided by 60 months to create qualifying income.
- Leverage: up to 80% on a purchase of a principal residence or second home on either path, with a lower ceiling on refinances.
- Seasoning: statements must show the money has been in your accounts for a set period.
- Where it applies: Lendmire’s consumer mortgage lending is licensed in 16 states, Ohio included.
Which Path Fits an Ohio Retiree?
Pick the qualifier path if your assets can cover the whole loan. Pick the depletion path if your assets are large but you need them to behave like income. You are qualified on one path at a time, and the two never blend.
Picture an Ohio retiree who sold a business and holds a large brokerage account, some savings and a 401(k). Her documented income is small, because the portfolio is her income. A standard lender looks at her tax return, sees little, and declines. This is the kind of profile asset-based mortgage programs are built for: large balances, thin paperwork on income.
The same profile fits early retirees, people who received an inheritance or legal settlement, and households living off a portfolio. Program figures do not change by state. Ohio home prices, taxes and insurance are context for your budget, not program parameters.
One quick disambiguation. Some Ohio searches on asset limits are about public-benefits eligibility. This article is about how much you need in assets to qualify for a mortgage, which is a different question.
How Much Do You Need on the Asset Qualifier Path?
You need eligible assets that equal or exceed the entire loan amount. No employment or income is documented on this path. Loans go up to $4,000,000, and leverage runs up to 80% on a purchase and 75% on a refinance of a principal residence or second home, subject to underwriting.
Lenders count only a share of each balance. On the qualifier path, those shares look like this:
| Asset type | Share that counts |
|---|---|
| Brokerage accounts | 100% |
| Certificates of deposit | 100% |
| Money market | 100% |
| Savings | 100% |
| 401(k) or IRA, under 59½ | 90% |
| 401(k) or IRA, 59½ or older | 100% |
Accounts combine. Consider a scenario with 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). That adds up to $800,000 of usable assets, and the file is reviewed on assets alone. The lender’s own calculation governs, so treat this as an illustration.
The age line matters. A retiree who has reached 59½ gets full credit for retirement balances, and one who has not gets 90%.
Here is the catch most retirees miss. Money you spend at closing leaves the account, so plan the down payment and closing costs with that in mind. The lender reviews how those funds were sourced. A sensible plan keeps eligible assets covering the loan after the cash to close is set aside.
Seasoning and credit. Seasoning is the waiting period that shows money has actually been yours. On this path you need 60 days of seasoning and two months of statements for each qualifying account. The minimum credit score is 600, and housing history is reviewed at 0x30x12, meaning no late payments in the last twelve months. One 30-day late in that window is considered case by case. Multiple bankruptcies are not eligible. Nobody should promise you approval, and this program does not skip the credit review.
Reserves. Reserves are money left over after closing. None are required at or below 75% loan-to-value (LTV, the loan as a share of the home’s value). Above 75%, which includes a purchase at 80%, the lender sets them.
How Much Do You Need on the Asset Depletion Path?
Here your assets become income. The lender totals your usable assets, divides by 60 months, and runs the result through the debt-to-income test (DTI, which compares monthly debts to monthly income). Loans run from $125,000 to $3,500,000, subject to underwriting.
The minimum is qualified assets of at least the lesser of $1,000,000 or 1.25 times the loan balance. When depletion is your only income source, you also need at least $250,000 liquid. On smaller loans, 1.25 times the loan is the lower figure. On bigger loans, the $1,000,000 cap takes over.
The haircuts are steeper on this path, and they differ from the qualifier 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% |
Run the numbers on a $1,500,000 securities account (80% counts, so $1,200,000) plus $300,000 in cash (100% counts, so $300,000). Usable assets come to $1,500,000. Divide by 60 months and you get $25,000 of monthly qualifying income. That income must then carry the housing payment and your other debts through the DTI test.
Leverage on this path depends on the property. On a principal residence or second home, up to 80% on a purchase or no-cash-out refinance and 60% on a cash-out refinance. On an investment property, up to 65% on a purchase or no-cash-out refinance and 60% on a cash-out. Cash-out proceeds never count as qualifying assets.
Statements must be at least 120 days old at application, and you also need the most recent statement dated within 45 days. Sale-of-business, inheritance and legal-settlement funds are excused from that seasoning. Credit follows the lender’s matrix. A first-time investor on this path needs a 700 score, and a housing event such as a foreclosure needs 4 years of seasoning.
If you also have a pension, Social Security or part-time income, asset income can supplement it. The combined DTI cap is 45%. When assets supplement documented income, the minimum-assets rule is waived.
Which Assets Count and Which Do Not?
Cash, CDs, brokerage and savings count most cleanly. Retirement money counts, but at a discount. Several asset types do not count at all.
On the depletion path, these are not eligible:
- Custodial accounts
- Deferred compensation
- Escrow accounts
- Foreign funds
- Cash on hand
- Stock options
- Non-vested restricted stock units
- Funds from non-regulated financial companies
Cryptocurrency, precious metals, collectibles, borrowed or pledged funds, and business accounts beyond your ownership share 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 lender reviewing the source. Do not assume they count at any percentage.
A 401(k) can be a large share of your wealth. Even so, it counts at 70% on the depletion path and 90% under 59½ on the qualifier path. It reaches full value only after 59½ on the qualifier path.
Why a Loan Without Income Is Legal
Federal rules let a lender rely on assets instead of paychecks. The CFPB’s compliance guide to the ability-to-repay rule says lenders must consider income or assets, and verify the income or assets they actually rely on. For a retiree, the portfolio is the thing being relied on, so the portfolio is what gets verified.
That is why these loans are not the pre-2008 stated-income loans. Your statements, your credit and the property all get reviewed. The program is a consumer mortgage, fully underwritten.
Pay Cash, Sell, or Borrow?
Borrowing can make sense when selling would cost you more than carrying a loan. Selling a large brokerage account can trigger taxes and pull money out of the market. Paying cash drains the very assets lenders want to see.
The sequencing trap is real. If you pay cash for a home first and try to borrow afterward, those dollars no longer count. Borrow first, or keep seasoned assets in place, and the same balance can support a loan.
The downside is also real. A portfolio that carries a mortgage can fall in value when markets drop, and monthly payments do not shrink with it. Size the loan so you can live with a bad year. Tax treatment varies; consult a qualified professional.
What If the Home Is a Rental?
If you are buying a rental, the depletion path accepts an investment property at lower leverage. As noted, that is up to 65% on a purchase and 60% on a cash-out. Most retirees buying a pure rental look at a different structure, and the brief version is useful.
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 federal rule behind that is Regulation Z’s business-purpose exemption, which treats credit for non-owner-occupied rental property as business purpose.
That loan is reviewed primarily on property-level rental income covering the payment, subject to lender guidelines. Your assets then cover the down payment, closing costs and reserves. The asset-based route is for the home you live in or the second home you use.
A retiree who wants both a primary residence and a rental ends up using two different loans. Each one gets its own review.
A Checklist Before You Apply
Preparation matters more than anything else you can do. Gather these:
- Statements for every qualifying account, including two consecutive months on the qualifier path
- A paper trail for any large deposit, such as a sale, inheritance or settlement
- Your credit report, checked for errors
- Proof of how the cash to close will be sourced
And avoid these mistakes:
- Moving money between accounts without a clear paper trail
- Spending seasoned cash on the down payment from the wrong account
- Counting retirement balances at full value
- Assuming crypto or a business account will count
- Applying on a path that does not match your assets
Key Terms Defined
Asset qualifier path: a way to qualify where eligible assets must equal or exceed the entire loan, and no employment or income is documented.
Asset depletion path: a way to qualify where usable assets divided by 60 months become monthly income for the debt-to-income test.
Loan-to-value (LTV): the loan amount as a percentage of the home’s value or price.
Seasoning: the length of time money has sat in your accounts, shown by statements.
Debt-to-income (DTI): monthly debts compared with monthly income, used to judge whether you can carry the payment.
Reserves: liquid money that remains after closing.
Frequently Asked Questions
Do I need a minimum amount of assets if I have no income at all?
On the depletion path, yes: the lesser of $1,000,000 or 1.25 times the loan balance, and never below $250,000 liquid. On the qualifier path, there is no fixed dollar floor. Your eligible assets simply have to equal or exceed the whole loan, subject to underwriting.
Can I use my 401(k) or IRA if I am under 59½?
Yes, at a discount. On the qualifier path it counts at 90% under 59½ and 100% at 59½ or older. On the depletion path it counts at 70% at any age.
Does this program skip documentation?
No. Every file is fully underwritten, and your assets are documented with statements. You provide no traditional personal-income documentation, pay stubs or employment verification.
Can I buy a second home this way?
Yes. A second home is eligible alongside a principal residence on both paths. Leverage on the depletion path is up to 80% on a purchase or no-cash-out refinance and 60% on a cash-out refinance, subject to underwriting.
What if I already paid cash for my last home?
The cash you spent no longer counts as an asset. Only balances still in your accounts, with the required statements, are reviewed. That is why the order of buying and borrowing matters.
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 Ohio page presents the program for Ohio borrowers.
About Lendmire
Lendmire is a mortgage brokerage (NMLS# 2371349) licensed for consumer mortgage lending in 16 states, arranging bank statement and other alternative-documentation mortgages — P&L-only, 1099-only and asset-based paths — through a wholesale lending network. Eligibility is determined by the lender on each file. 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 ability-to-repay and qualified mortgage compliance guide
2. CFPB Regulation Z, 12 CFR 1026.3
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 Refinance a Michigan Home on Assets When Your Income Stops? · How Snowbirds Get a Mortgage on a Winter Home Without Income · Can You Relocate to Georgia and Buy a Home on Assets Before You Have Local Income?
Guides: Asset-Based Mortgage in Ohio
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.