Current asset-based guidelines, updated from one source.
The block below is the asset-based program reduced to the figures that decide a file, read from Lendmire’s single guideline source and refreshed on this page when the wholesale sheets change: the loan ceiling on each path, the credit floor, the leverage by purpose and occupancy, and the share of each account type that counts. Everything else on the page is explanation.
Up to $4,000,000 on assets alone; $3,500,000 when assets become income
Loan size follows the path. Covering the loan outright with usable assets reaches $4,000,000; spreading a pool of assets into a monthly income reaches $3,500,000 and starts at $125,000. The amount on either path is a program parameter, subject to the lender’s guidelines at lock.
The asset qualifier path’s published floor; the depletion path follows the suite’s score and amount matrix
Credit enters an asset-based file through a floor rather than a formula: 600 on the path that covers the loan with assets, a matrix cell on the path that converts them into income. On the depletion path a clean recent housing history is the expectation, with one late payment in the past year tolerated at a cost; the qualifier path publishes the floor alone.
That ceiling on a purchase and 75% on a refinance when assets cover the loan; 60% on a depletion cash-out
Leverage tops out at 80% on a purchase whichever path carries the file. The paths part on the refinance: 75% when the assets cover the loan, and on the depletion side 80% for a rate-and-term and 60% for a cash-out. Investment property, available on the depletion path only, is capped lower.
Credited under 59½, and at 59½ or older, when assets cover the loan; 70% at any age when assets become income
A 401(k) or IRA is credited at 90% of its balance for an owner under 59½ and 100% for an owner at 59½ or older on the asset qualifier path; the asset depletion path counts a flat 70% of the balance. Brokerage, savings, money market, and certificates of deposit count in full when the assets cover the loan.
| Account type | Credit toward the loan |
|---|---|
| Brokerage accounts (stocks, bonds, funds) | 100% of the balance |
| Certificates of deposit | 100% of the balance |
| Money market accounts | 100% of the balance |
| Savings and checking | 100% of the balance |
| Retirement accounts (401(k), IRA) — owner under 59½ | 90% of the balance |
| Retirement accounts (401(k), IRA) — owner 59½ or older | 100% of the balance |
| Account type | Share counted |
|---|---|
| Cash accounts | 100% of the balance |
| Certificates of deposit | 100% of the balance |
| Securities (stocks, bonds, funds) | 80% of the balance |
| Private stock | 75% of the balance |
| Retirement accounts (any age) | 70% of the balance |
| Real-estate equity | 60% of the balance |
| Path and occupancy | Purchase | Rate-and-term | Cash-out |
|---|---|---|---|
| Asset qualifier — primary residence or second home | 80% | 75% | set by the lender |
| Asset depletion — primary residence | 80% | 80% | 60% |
| Asset depletion — second home | 80% | 80% | 60% |
| Asset depletion — investment property | 65% | 65% | 60% |
Two paths behind these pages: on the asset qualifier path the usable assets must equal or exceed the whole loan and no employment or income is documented; on the asset depletion path the usable assets are divided across the published number of months (the table above) into a qualifying income that carries the housing payment and other debts through the debt-to-income test. Reserves are not required on the qualifier path at or below the refinance leverage; the depletion path asks for statements at least one hundred twenty days old plus a current one. Minimum assets on the depletion path: the lesser of one million dollars or one and a quarter times the loan, never below a quarter million liquid when assets are the only income. Lendmire is a broker, not the lender, and the lender is not named.
Current asset-based snapshot · updated October 21, 2026 · a Lendmire loan officer confirms the path, the asset credit, and the leverage for the file before an offer.
Informational only; not a commitment to lend, an approval, or a quote. Every figure on this page is a program parameter read from Lendmire’s guideline source, built on wholesale program sheets, and may change without notice; eligibility, the path, the leverage, and the amount are decided in underwriting. Nothing here is tax or investment advice, and the assets described are never required to be sold or moved by this page. Lendmire is a mortgage broker, not a lender. Licensed in sixteen states for consumer mortgages. NMLS #2371349.
What an asset-based mortgage is — and how the two paths qualify a file.
There are two questions a lender can ask of a balance sheet. Is there enough here to cover the whole loan? Or, spread across a fixed number of months, is there enough here to look like the income the loan needs? The asset qualifier path asks the first and the asset depletion path the second, and a Dearborn buyer is qualified on one of them, not both at once.
For the program overview, see Lendmire’s asset-based mortgage program, or the statewide guide at Asset-Based Mortgage in Michigan; for the age rule on retirement withdrawals, see the IRS.
Two paths, one program
The paths also differ in occupancy and purpose. When the assets cover the loan, the program reaches principal residences and second homes, on a purchase or a refinance. When the assets become income, investment property joins the list, and cash-out refinances have a published ceiling. A Dearborn buyer with a rental in mind is on the depletion path by definition.
The asset qualifier path
The credited total must reach the loan amount, and the loan must sit inside the path’s leverage: a share of the price on a purchase, a lower share of the value on a refinance. Reserves are not required at or below the refinance leverage. The usual way a Dearborn file that falls short is repaired is a larger down payment, which lowers the loan to what the assets cover.
The asset depletion path
On the asset depletion path the lender applies a haircut to each account type, adds up what remains, and divides the total by a fixed number of months to produce a monthly qualifying income. Cash and certificates of deposit count in full, securities at a lower share, private stock lower still, retirement accounts lower again regardless of age, and real-estate equity lowest. A Dearborn file then runs through the debt-to-income test with the new payment included.
Seasoning, statements, and what counts
Seasoning means how long the money has been where the statements say it is. On the asset qualifier path, two months of statements for each qualifying account is the rule. On the asset depletion path the lender wants statements at least four months old plus the most recent one, with the sale of a business, an inheritance, or a legal settlement excused from the wait. A Dearborn buyer planning a purchase after a liquidity event plans the seasoning first.
The calculator runs a Dearborn balance sheet through both paths at once. It credits cash, brokerage, and retirement balances at their shares, flips the retirement credit when the owner is past the age line, measures the total against the loan, and divides the haircut total into a monthly income beside the estimated payment. The arithmetic is illustrative; the lender’s own calculation governs.
Dearborn’s market in figures — and how asset-based lending fits.
Local context for a Dearborn asset-based file: how many people live here, what a typical home is worth, how many households own rather than rent, and how large the owner pool is. None of these figures enters underwriting; all of them shape the price a loan officer sees first.
Market context only. These are context figures, not underwriting inputs. A typical value sets the scale of the loan, the ownership share says how many households are likely to be buyers rather than renters, and the owner count says how wide the comparable pool is when the appraisal is written.
Data sources: U.S. Census Bureau — ACS 5-Year (2024) housing and population estimates, including tenure, home values, gross rents, and household income.
Distinct Dearborn neighborhoods, distinct asset files.
The Dearborn market breaks into submarkets, and an asset-based mortgage reads differently in each: a condominium near the center, a second home on the water, an estate on acreage, a rental on the far side of town. The cards describe the typical file in each and what the path choice turns on there.
Two-to-four-unit homes
The owner-occupant in a Dearborn duplex or fourplex is read as a principal-residence buyer on the asset rules; the pure investor is read on the depletion path alone. Property eligibility for multi-unit homes follows the placing lender, and a loan officer confirms it before the path is chosen. The median owner-occupied home value in Dearborn runs near $218,800 on the latest Census estimate.
Estate properties
At the top of the Dearborn market the question is rarely whether the household can afford the home; it is how the lender documents that it can. The asset qualifier path answers with statements; the depletion path answers with a derived income; a loan officer shows both before the offer. About 32% of Dearborn’s households rent — roughly 11,597 renter households on the latest Census estimate.
High-rise and luxury condominiums
A Dearborn condominium bought on assets is an asset-based file with the building added. Established projects usually pass review; the account rules are the same as for a house, and the asset qualifier path keeps income out of the file when the usable total covers the loan. Two months of statements season the proceeds. Dearborn is home to about 107K people and sits within the Detroit-Warren-Dearborn, MI area.
Newer luxury infill and new construction
Builder inventory and new infill in Dearborn are bought on assets by households that have just sold something larger. The proceeds season (two months of statements on the asset qualifier path, longer on the depletion path), the credited total is measured against the new loan, and the file is placed on the path the total supports. Median household income in Dearborn sits near $65,324 on the latest Census estimate.
Second homes and pied-à-terre purchases
Second homes are the program’s natural fit in Dearborn: a portfolio, a residence elsewhere, and a city unit bought on the balances. The occupancy is confirmed with the borrower’s intent and the property’s use, and the second-home row of the leverage table applies. Roughly 25,098 Dearborn households own their homes on the latest Census estimate — 68% of all households, the pool an asset-based purchase joins.
Close-in architect-designed homes
A distinctive Dearborn house is a distinctive appraisal. The asset side of the file is unaffected, but the leverage ceiling is applied to the appraised value, so a buyer on the asset qualifier path plans the usable total with room for the value to land under the contract. On a home in Dearborn priced at or above the median, the asset qualifier path finances up to 80% of the price on a purchase — the balance of the price is the down payment, and the usable assets must cover the loan itself.
Whichever Dearborn neighborhood the home sits in, the asset-based questions are the same: which accounts count, at what share, whether the total covers the loan, and if not, what income the depletion path produces. The cards are context; the snapshot is the rule.
Four ways Dearborn buyers put their assets to work.
The asset-based mortgage does one thing the income programs cannot: it lends to a household whose statements, not its earnings, show the means to repay. Four common Dearborn uses follow, each read against the path that usually carries it.
Turn a portfolio into qualifying income
Depletion is the path for the household with meaningful savings and a modest paycheck, or no paycheck at all. The assets are read as income rather than as collateral, the leverage matches the qualifier path on a purchase, and the ratio test comes back into the file. A Dearborn loan officer runs both paths before recommending this one.
Keep the investments invested
For a Dearborn buyer weighing a cash purchase against a mortgage, the asset-based program offers the mortgage without the income file. The assets are counted on paper, the home is financed, and the portfolio stays invested. A loan officer shows the two paths on the actual balances before the offer is written.
Refinance a home the assets already stand behind
Replacing an old loan on assets rather than income keeps a Dearborn household from documenting earnings it no longer has. The path’s refinance ceiling is lower than its purchase ceiling, and the assets must still cover the whole new loan; a loan officer confirms cash-out treatment with the lender before the file is placed.
Buy after a liquidity event, before the next venture
After a sale, the question is documentation rather than qualification. The Dearborn loan officer traces the proceeds with the sale paperwork, confirms the accounts they landed in, counts the statements, and chooses the path the total supports. Cash-out proceeds from a refinance never count as assets on either path.
Measure a Dearborn loan against the assets before requesting a review.
This is an asset coverage estimate, not an approval: it credits each account type the way the program does, switches the retirement credit at the age line, measures the total against the loan, applies the depletion haircuts and the divisor, and estimates the payment at the Freddie Mac benchmark. A Dearborn loan officer runs the lender’s own version before anything is written.
Dearborn asset coverage estimate
A worked Dearborn example to start from: price, loan, cash, brokerage, and retirement balances with the owner under the age line. The results show the asset qualifier verdict first and the depletion reading beneath it.
Editable benchmark: 7.40% as of October 15, 2026 · Freddie Mac 30-year average via FRED®. A conventional market reference, not an asset-based mortgage quote.
Illustrative starting assumptions: a $500,000 price above the Dearborn median, a loan at seventy percent of the price, a balance sheet split among cash, brokerage, and retirement accounts with the owner under 59½, a thirty-year payment at the current Freddie Mac conforming benchmark, property taxes and insurance estimated for Michigan (U.S. Census Bureau). Every field is editable.
Illustrative estimate only — not a Loan Estimate, approval, quote, or commitment to lend. The credit percentages, the haircuts, and the divisor are wholesale program parameters hydrated from Lendmire’s guideline endpoint; the lender’s own calculation governs, and which accounts count, how they season, and what the age rule allows are settled in underwriting. The rate field carries the weekly Freddie Mac thirty-year conforming benchmark, a market reference and not an asset-based mortgage quote; the terms on an asset-based mortgage are set by the lender at lock. Taxes and insurance are estimates. Nothing here is tax or investment advice.
Same buyer, three ways to document the file.
Three routes to the same closing table, compared on what each one counts: the balance sheet in full, the balance sheet as income, or the deposit history of a business owner. A Dearborn loan officer prices the route the file supports best, and the comparison below explains how the choice is made.
Assets that cover the loan, assets as income, or deposits as income.
When the credited balances reach the loan, nothing else about income needs to be shown. The trade is the threshold: the assets must cover the loan itself, not a share of it, and investment property is not on this path. Reserves are not required at or below the refinance leverage, and the file is the statements, the credit report, and the appraisal.
The path for the household whose savings are real but smaller than the loan. It can carry a loan the balances would not cover outright, widens the occupancies to include rentals, and adds a cash-out ceiling; in exchange it brings the ratio back and counts retirement money at a flat haircut.
A different question entirely: not what the household owns but what the business brings in. The bank statement loan suits the Dearborn owner with strong deposits and modest savings, where the asset-based paths suit the household with strong savings and modest deposits. See Lendmire’s bank statement loan program.
Assets that cover the loan, assets that become income, deposits that become income: three answers to one question, and the right one for a Dearborn household is read off its statements. The comparison on this page is run for real on every file before the lender’s terms are put in writing. Loans above the conforming limit on documented income: Lendmire’s jumbo loan program.
What to prepare for a Dearborn scenario review.
Preparation for a Dearborn asset-based review is mostly gathering: the statements for each account, the age of the owner of each retirement account, the credit report, and, on the depletion path, any income the asset income will supplement. The items below are the ones a loan officer asks for first.
This is a general preparation guide, not a universal checklist. The selected lender may request additional information based on the transaction, the property, the path, the accounts, and the credit picture. Nothing here is legal, tax, or investment advice.
Local details that can change the loan.
Here are five details, chosen for the Dearborn file, that most often reshape an asset-based loan. The first two apply to nearly every file; the rest depend on the accounts, the occupancy, and the purpose.
Use these checks to keep the Dearborn file clean and fundable.
Before the statements go in: confirm the retirement credit by age, confirm the seasoning by path, and confirm which accounts the lender counts. A Dearborn file that clears those three rarely surprises anyone in underwriting.
- Confirm the age rule: the depletion path haircuts retirement balances at a flat share regardless of age.
- Count the months: a sale of a business, an inheritance, or a settlement is excused from the depletion wait.
- Sort the accounts: custodial, deferred-compensation, escrow, foreign, option, and unvested accounts are not.
Retirement accounts and the age line
Retirement balances are the most age-sensitive figure in the program. On the asset qualifier path they are credited by the owner’s age; on the asset depletion path they are haircut at a flat share whatever the age. A Dearborn household with a large retirement account and a modest brokerage account is read carefully on both, because the usable totals can land on opposite sides of the loan.
Seasoning by path
Seasoning differs by path. Covering the loan with assets needs two months of statements for each qualifying account. Depleting the assets into income needs a statement at least four months old plus a current one, with sale-of-business, inheritance, and legal-settlement funds excused. A Dearborn buyer timing a purchase after a liquidity event counts the months before the offer.
Which accounts count
Most of the eligible list is shared by both paths, with real-estate equity and private stock counting on the depletion path only; the share counted is what differs. A Dearborn household whose wealth sits in a private company, in options, or in an account held abroad may find the usable total smaller than the net worth suggests, and the sorting is done before the path is chosen so the result is not a surprise.
Reserves by path
The practical question for a Dearborn file is whether the down payment and closing costs come out of the same accounts that cover the loan. They can, but the lender reads the balances after those draws, so a file that just clears the threshold before closing may not clear it after. The calculator’s margin is the figure to watch.
Occupancy decides the path
A principal residence or a second home can be written on either path. An investment property can be written on the asset depletion path only, at a lower leverage ceiling, and a first-time investor needs a stronger score. For a Dearborn buyer, naming the occupancy honestly is the first step, because it settles which path is open before the balances are read.
From a Dearborn asset review to keys in hand.
From the first conversation to the keys, a Dearborn asset-based file passes four stages. The first is the one that differs from an income loan: the statements are read, the accounts are sorted, the usable total is calculated on both paths, and the path is chosen before anything else happens.
Asset review
Start with the statements, the credit score, the occupancy, and the purpose. A Lendmire loan officer sorts the eligible accounts, applies the credit shares and the haircuts, reads the usable total against the loan on the asset qualifier path and into income on the depletion path, confirms the age rule for each retirement account, and puts the result in writing.
Contract and appraisal
The contract sets the price the loan is measured against; the appraisal confirms the value supports it. On a Dearborn file where the assets just cover the loan, an appraisal that lands under the price is answered with a larger down payment, which lowers the loan the assets must cover.
Underwriting
Conditions, when they come, are usually documentary: a missing statement page, a deposit without its source, an account that needs its holdings shown. A Dearborn buyer who gathered the list on this page meets most of them before they are asked. The underwriter’s questions are the loan officer’s questions asked a second time, on the same statements.
Closing
At closing the down payment and the closing costs are paid, the loan funds, and the accounts that qualified the file stay where they were. The lender reads the balances as they stand after the funds to close are drawn, which is why a Dearborn file keeps a margin above the threshold.
A brokerage that reads both paths.
Asset-based files reward careful reading. Which accounts count, at what share, on which path, with what seasoning, at what leverage for the purpose: each is a place where a file placed carelessly costs the buyer a larger down payment or a longer wait. Lendmire reads them in order, before the offer, for every Dearborn buyer.
Both paths, one set of statements
Before any recommendation, the Dearborn statements are run through the asset qualifier path and the asset depletion path on the lender’s own rules: the credit shares and the age line on one side, the haircuts and the divisor on the other. The buyer sees the usable total against the loan and the derived income against the payment, and the path is chosen on the result.
The account rules explained before the offer
Reading the statements early is the whole method. A Dearborn loan officer sorts the accounts, confirms the owners’ ages against the age line, counts the months, and names the usable total on each path, in writing, before an offer is drafted. The aim is a file with as little as possible left to be discovered in underwriting.
Licensed, consumer-purpose, in writing
Asset-based mortgages on a principal residence or a second home are consumer loans, placed under Lendmire’s consumer licensing in sixteen states with the disclosures that attach to any consumer mortgage. A Dearborn buyer gets the terms in writing from a licensed loan officer, and nothing on this page is an offer or a quote.
Trusted by buyers & families alike.
Dearborn asset-based mortgage FAQs
Plain answers to the questions Dearborn buyers ask most about asset-based mortgages, in the order they usually come up: what the program is, how each path works, how retirement accounts are counted, and what the credit and leverage rules are.
What is an asset-based mortgage?
It is a mortgage where the statements, not the pay stubs, make the case. Two paths run under the program: cover the loan outright with usable assets and document no income, or deplete the assets into a qualifying income and run the usual ratio test. A Dearborn buyer is written on whichever path the balances support.
How does the asset qualifier path work?
The path has three tests: the usable assets must cover the loan, the loan must sit inside the leverage for the purpose, and the credit score must be at or above the published floor. Reserves are not required at or below the refinance leverage. Income is never asked for.
How does the asset depletion path work?
It converts assets into income. Cash and certificates of deposit count in full, securities at a lower share, retirement accounts lower still regardless of age, and real-estate equity lowest; the haircut total is divided by the divisor and treated as monthly income. The path reaches principal residences, second homes, and investment property.
How are 401(k) and IRA balances counted, and why does 59½ matter?
On the asset qualifier path a retirement account is credited at a reduced share of its balance while the owner is under 59½ and at the full balance from 59½ on; the age line is the lender’s, and it tracks the age at which retirement plans generally allow withdrawals; what a withdrawal would cost is a question for a tax adviser. On the asset depletion path retirement accounts are haircut at a flat share regardless of age. The figures are in the snapshot above.
What credit score does an asset-based mortgage need?
The asset qualifier path publishes a credit floor, shown in the snapshot above. The asset depletion path reads the score against the documentation suite’s matrix, where the floor rises with the leverage and the loan amount. On the depletion path the housing history is reviewed as well, and a prior housing event waits out the program’s seasoning; the qualifier path publishes the floor alone.
Which accounts count, and which do not?
A loan officer reads holdings, not just balances: a brokerage statement is read for what it holds, a retirement statement for its vested balance, a business account for whether the funds are the borrower’s. Anything on the ineligible list is set aside before the Dearborn usable total is calculated.
How is this different from a bank statement loan?
The comparison on this page puts them side by side: assets that cover the loan, assets that become income, and deposits that become income. The right route for a Dearborn household is read off its statements, and the written terms follow from the one that fits.
I just sold my business. Can I buy on the proceeds?
Yes. The timing question is the seasoning: two months of statements on the path that covers the loan, and an excused wait on the depletion path for sale-of-business funds. A Dearborn loan officer reads the calendar with the statements and names the path that is reachable soonest.
What sets the timeline on an asset-based mortgage?
The program sets no closing date of its own; the contract, the appraisal, and the completeness of the file set the pace. The seasoning is the one timing rule the program itself imposes: two months of statements on the asset qualifier path, longer on the depletion path except for excused funds. A Dearborn loan officer reads the calendar at the review.
How large can the loan be?
On the asset qualifier path the loan is bounded twice: by the program ceiling and by the usable assets, whichever is lower. On the depletion path it is bounded by the ceiling and by the ratio the derived income supports. The calculator on this page shows both bounds on a Dearborn balance sheet.
Keep the portfolio invested and finance the Dearborn home on it.
An asset-based review is the first step, and it asks only for the statements. The statements are read against both paths and a bank statement loan, and the recommendation follows the numbers.
This guide covers Dearborn — for the statewide guidelines, markets, and scenarios, see Asset-Based Mortgage in Michigan, part of Lendmire’s asset-based mortgage program.
Nearby markets in Michigan: Dearborn Heights · Taylor · Detroit · Westland · Livonia · Southfield · Royal Oak · Warren
Related programs: Bank Statement Loans · Jumbo Loans · Super Jumbo Bank Statement Loans