The Quick Read: Usually, liquid accounts in your own name count, including savings, money market, certificates of deposit, and brokerage accounts, and vested retirement accounts count either at a discount or in full depending on the path and your age, while borrowed funds and unseasoned deposits generally do not, and business accounts count only to the extent of your ownership share. The mix of accounts matters because each one is counted at a percentage of its balance, subject to underwriting.
- Cash, CDs, money market, and savings are the strongest accounts, usually counted at 100%.
- Brokerage and securities accounts count in full on one path and at 80% on the other.
- Retirement accounts always count at a discount except for borrowers 59½ or older on the asset qualifier path.
- Crypto, precious metals, collectibles, and pledged or borrowed funds are not published as eligible on either path.
- Every counted account needs statements, and money moved recently needs a paper trail.
Two Paths, and Why the Account List Changes
An asset-based mortgage is a consumer home loan where your balances, not your paycheck, carry the qualification. Across Lendmire’s wholesale network, two paths exist, and a borrower is reviewed on one path at a time. Mixing the two tables is a common mistake.
The asset qualifier path covers the entire loan with eligible assets. No employment or income is documented. Your counted assets must equal or exceed the whole loan amount. This path is available on a principal residence or second home, with leverage up to 80% on a purchase and 75% on a refinance, and loan amounts up to $4,000,000, through select programs. Every figure here varies by lender and program — guidelines, property type, leverage, and credit profile all apply.
The asset depletion path converts eligible assets into monthly qualifying income. Usable assets are divided by 60 months. That income then carries the housing payment and your other debts through the debt-to-income test. Loan amounts run from $125,000 to $3,500,000, and it is the only path of the two that reaches investment property.
If your balances are large enough to cover the loan outright, the qualifier path is usually the cleaner fit. If your balances are large but you want to keep some of them, the depletion path is the better one to run. Georgia borrowers get the same program figures as borrowers anywhere else, since the figures do not change by state. Lendmire is licensed for consumer mortgage lending in Georgia and fifteen other states, and arranges these loans as a broker through select lenders.
How Do Lenders Decide an Account Counts?
An account counts when it passes four tests: ownership, liquidity, verifiability, and U.S. location. If an account fails any one, the balance usually drops out entirely rather than being discounted.
Regulators describe the same idea in plain terms. The OCC’s bulletin on asset depletion underwriting describes it as using an applicant’s assets to calculate a hypothetical cash annuity stream, which is then weighed alongside other income. It applies to national banks and federal savings associations, so non-bank programs are not bound by it. Still, it is the clearest public statement of the concept. A compliance-industry summary of that bulletin says loan files should confirm the assets’ ownership, current value, location, and how long they have existed. Those are the same checks a wholesale underwriter runs on your statements.
- Ownership: the account is titled to you, the borrower.
- Liquidity: the balance can be reached without a third party’s approval.
- Verifiability: statements show the balance and where it came from.
- Location: the funds sit with a regulated financial institution, and foreign funds are not eligible on the depletion path.
One caution on the agency world. Conventional agency asset rules are a different product family with their own, more conservative treatment. Do not apply those rules to a non-QM asset-based file. The percentages below belong to this program only.
Account-by-Account: What Counts and at What Percentage
Each account type counts at a share of its balance that depends on the path. The table shows both, subject to underwriting and the lender’s own calculation.
| Account type | Qualifier path | Depletion path |
|---|---|---|
| Savings | 100% | 100% (cash) |
| Money market | 100% | 100% (cash) |
| Certificate of deposit | 100% | 100% |
| Brokerage account | 100% | 80% (securities) |
| Private stock | Not published | 75% |
| 401(k) or IRA | 90% under 59½; 100% at 59½+ | 70% at any age |
| Real-estate equity | Not published | 60% |
A few notes keep the table honest. The published qualifier list names savings and money market, and your lender reviews checking balances on the file, so confirm that account type early. On the depletion path, cash accounts count at 100%. Accounts on the qualifier path combine, so a borrower can stack brokerage, savings, and retirement balances toward the loan amount.
Market value on the statement date is what gets counted. Cost basis does not matter. Pending sales and market swings can still move a brokerage balance between application and underwriting review, so a thin margin is a risk worth leaving room for.
Retirement Accounts in Depth
Retirement accounts count, but the weight depends on your age and the path. On the qualifier path, a 401(k) or IRA counts at 90% if you are under 59½ and at 100%, the same as cash, once you reach 59½. On the depletion path, retirement accounts count at 70% at any age.
The age split tracks a tax line. The IRS treats IRA withdrawals taken before age 59½ as early distributions, and the same age marks the line for 401(k) plans. Tax treatment varies; consult a qualified professional before moving retirement funds. The lender’s percentage is a program rule, not an IRS number.
Vesting matters as well. Only the vested balance counts. Some programs exclude funds that need a third party’s approval to access, and deferred compensation is not eligible on the depletion path. A younger borrower with a mostly employer-held balance may find that account carries less weight than expected.
Counting an account does not mean selling it or withdrawing from it. Nothing is pledged or drained. The balance is a qualifying convention, so your retirement money can stay invested. Lendmire’s piece How to Count Retirement Accounts as Reserves on an Asset Depletion Mortgage covers the reserve side in more detail.
What Never Counts, and Why
Some balances do not count at all on either path. The reason is usually that the lender cannot verify them, reach them, or treat them as yours.
- Cash-out proceeds: they never count as qualifying assets on the depletion path, because they are borrowed against the same house.
- Borrowed or pledged funds: the money is not yours free and clear.
- Custodial accounts, escrow accounts, and foreign funds: not eligible on the depletion path.
- Cash on hand: not eligible on the depletion path, because it has no statement trail.
- Stock options and non-vested restricted stock units: you do not yet own them.
- Funds from non-regulated financial companies: not eligible on the depletion path.
- Business accounts beyond your ownership share: the portion you do not own is excluded.
Cryptocurrency, precious metals, and collectibles are not published as eligible on either path. If you hold them, the documented route is to convert them into a seasoned cash balance in a regulated account, with the source reviewed by the lender. Some lenders in the market do allow crypto at a discount. Lendmire’s network does not publish it as eligible, so plan on converting rather than counting on it.
Joint Accounts, Trusts, and LLCs
Titling decides whether a balance helps you. The asset calculation is personal, so accounts in your own name are the cleanest. A joint account with a spouse or co-borrower generally works best when the borrower on the loan is an owner on the statement. A balance held only by someone who is not on the loan is a poor candidate.
Entity ownership is more program-dependent. Vesting the home in an LLC on an asset depletion file depends on the program, because the income calculation is personal. If you plan to buy in a trust or an entity, raise that before choosing a path, subject to lender guidelines. Custodial accounts, where you manage money that belongs to someone else, are not eligible on the depletion path.
From Accounts to a Loan: Two Worked Illustrations
These illustrations use the same percentages and divisor a lender applies. They are examples only, and the lender’s own calculation governs.
Qualifier path. Say the loan is $800,000. You hold $330,000 in brokerage accounts, $300,000 in a 401(k) at age 55, and $200,000 in savings. The brokerage balance counts at 100%, which is $330,000. The 401(k) counts at 90% because you are under 59½, which is $270,000. Savings count at 100%, which is $200,000. Together that is $800,000 of usable assets, equal to the loan amount, so the file is reviewed on assets alone, subject to underwriting. No income is documented.
Depletion path. Now say you hold $1,500,000 in securities and $300,000 in cash. Securities count at 80%, which is $1,200,000. Cash counts at 100%, which is $300,000. That is $1,500,000 usable. 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 depletion path has floors. Qualified assets generally must be at least the lesser of $1,000,000 or 1.25 times the loan balance, and never below $250,000 liquid when asset depletion is your only income source. If you have documented income, such as a pension, asset income may supplement it up to a 45% debt-to-income ratio, and the minimum-assets rule is waived.
The divisor is the biggest lever on the depletion path. A longer divisor spreads your assets across more months and produces less income. This program uses 60 months, so compare any quote against the same divisor.
Leverage, Credit, and Reserves by Path
Leverage depends on both the path and how you will use the home. These are ceilings, not offers, and they are subject to underwriting.
- Qualifier path, principal residence or second home: up to 80% on a purchase and 75% on a refinance.
- Depletion path, principal residence or second home: up to 80% on a purchase or rate-and-term refinance, and up to 60% on a cash-out refinance.
- Depletion path, investment property: up to 65% on a purchase or rate-and-term refinance, and up to 60% on a cash-out refinance.
Credit starts at a 600 minimum score on the qualifier path. The depletion path follows the lender’s matrix, and a first-time investor on that path needs 700. Housing history of 0x30x12 is the target, and one 30-day late in the last twelve months is considered case by case. Multiple bankruptcies are not eligible, and a housing event needs four years of seasoning on the depletion path.
On the qualifier path, reserves are not required at or below 75% loan-to-value, and above that the lender sets them. The depletion path has no published reserve months.
Seasoning, Statements, and the Pre-Application Checklist
Both paths document your assets in full. Skipping income documents never means skipping asset documents. Seasoning rules differ by path.
- Qualifier path: 60 days of seasoning, and two months of statements for each qualifying account.
- Depletion path: statements at least 120 days old at application, plus the most recent statement within 45 days.
- Exception: sale-of-business, inheritance, and legal-settlement funds are excused from the depletion-path seasoning.
Before you apply, gather the following:
1. Every statement for each account you want counted, covering the required months.
2. A source for any large recent deposit, such as a sale closing statement or a transfer record.
3. Vesting confirmation for any employer retirement balance.
4. Titling pages showing your name on each account.
5. A plan for any crypto or other ineligible holdings you want to convert.
Moving money close to application is the usual way a good file goes sideways. If you sell stock or crypto and park the proceeds in a new account, the new balance must be traced to its source and may need seasoning. Moving funds between accounts you own is fine, but leave a clean paper trail. Large unexplained deposits are generally excluded or require sourcing.
How Does This Compare With Bank Statement and DSCR Loans?
These three programs answer different questions, so the accounts that matter are different too.
| Factor | Asset-based | Bank statement | DSCR |
|---|---|---|---|
| Purpose | Consumer home loan | Consumer home loan | Business-purpose rental |
| What qualifies | Eligible assets | Deposits as income | Property rent coverage |
| Accounts used for | Loan or income | Income evidence | Reserves only |
| Best for | Cash-heavy, income-light | Self-employed income | Rental investors |
The bank statement program is for borrowers who document income with deposits. Business-purpose rental financing is DSCR. On a DSCR loan, the property’s rental income drives lender review, subject to lender guidelines, and your accounts show up as post-closing reserves. If you are buying a pure rental, the complete DSCR loans guide walks through that route. If you want to live in the home or use it as a second home, an asset-based file is the one that counts your balances as qualifying power.
Who This Fits in Georgia
The profile is a cash-heavy, income-light borrower. Account mix usually tells you which path fits.
- A retiree living off a portfolio often holds brokerage, CDs, and an IRA. If the total covers the loan, the qualifier path avoids income documents altogether.
- A business seller with sale proceeds in a regulated account may qualify for the seasoning exception on the depletion path.
- An inheritance or settlement recipient has the same exception, since those funds are excused from seasoning on the depletion path.
- An early-retired professional with a large securities portfolio and little documented income often does best on depletion, which keeps most of the portfolio untouched.
Which path wins is a genuine toss-up for some borrowers. The qualifier path requires assets to equal the whole loan. Depletion keeps more cash in your hands, but it needs enough derived income to pass the debt-to-income test.
Frequently Asked Questions
Does my 401(k) count toward an asset-based mortgage?
Yes, in most cases, but at a discount. On the qualifier path it counts at 90% under age 59½ and 100% at 59½ or older. On the depletion path it counts at 70% at any age. Only the vested balance counts, and the lender confirms access, subject to underwriting.
Do crypto or gifts count?
Crypto is not published as eligible on either path, so the documented route is converting it to cash in a regulated account and letting the funds season. Gifts are generally excluded or require sourcing. Cash-out proceeds from the same home never count as qualifying assets on the depletion path.
Can I use a joint account?
Often yes, if you are an owner on the account and the statements show it. A balance owned only by someone who is not a borrower on the loan is a weak candidate. Entity or trust titling depends on the program, so raise it before you pick a path.
Do I have to sell anything or withdraw money?
No. Counting an account is a qualifying convention, not a sale or pledge. Your investments can stay where they are. If you do choose to sell or move funds before applying, those proceeds must be traced and may need seasoning.
Is an asset-based mortgage the same as a bank statement loan?
No. An asset-based mortgage is reviewed around balances, either as a total against the loan or as converted monthly income. A bank statement loan uses deposits to document income. They suit different borrowers, so pick based on whether your strength is balances or business deposits.
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. Program figures here are ceilings and floors through select programs, they change over time, and every file is underwritten individually. This is not a commitment to lend.
About Lendmire
Lendmire, NMLS# 2371349, is a mortgage brokerage with consumer lending licenses in 16 states. Bank statement, P&L-only, 1099-only and asset-based mortgages are arranged through wholesale lending partners for borrowers whose tax returns understate their income, and each application is reviewed individually by the lender. 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: Savings Account vs Brokerage Account: Which Counts More on an Asset-Based Mortgage? · Can Private Company Stock Count Toward an Asset Depletion Mortgage? · Asset Qualifier Mortgage vs Bank Statement Mortgage
Guides: Asset-Based Mortgage in Georgia
Brandon Miller
Founder & CEO, Mortgage Loan Originator, Lendmire LLC
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- Lendmire LLC · Firm NMLS# 2371349 · Verify firm licensure
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.