Asset-based mortgage in Dothan, Alabama — qualify on assets, not income
Dothan Asset-Based Mortgage

Asset-Based Mortgage in Dothan, Alabama: Qualify on Assets, Not Income

An asset-based mortgage in Dothan, AL is the loan for a household whose wealth sits in accounts rather than in a paycheck: the file is qualified on the balances, not on tax returns or pay stubs. Two paths run under the program. On the asset qualifier path the usable assets cover the whole loan and no employment or income is documented at all. On the asset depletion path the assets are converted into a monthly income and the file is read the way any income file is read.

Current Program Snapshot

Current asset-based guidelines, updated from one source.

Four cards and three tables carry every figure an asset-based file turns on, drawn from one source built on the wholesale program sheets: amount, credit, leverage, and the retirement credit in the cards; the account-by-account credit, the depletion haircuts, and the leverage by occupancy in the tables. The prose around them explains how the figures are used.

Loan Amount
to $4M

Up to $4,000,000 on assets alone; $3,500,000 when assets become income

The asset qualifier path reaches $4,000,000 when the usable assets cover the whole loan; the asset depletion path runs from $125,000 to $3,500,000 with the assets converted into income instead. Both are program ceilings, not offers, and the placing lender confirms the amount for the file.

Credit Score
600 floor

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.

Leverage
up to 80%

That ceiling on a purchase and 75% on a refinance when assets cover the loan; 60% on a depletion cash-out

A buyer on the asset qualifier path brings at least the balance of the price above 80% as a down payment, and refinances to 75%. On the asset depletion path a principal residence or second home reaches 80% on a purchase or rate-and-term refinance and 60% on a cash-out, with investment property lower, as the table shows; qualifier-path cash-out is set by the lender.

Retirement Accounts
90% / 100%

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.

Asset qualifier path — how much of each account counts toward covering the loan (the wholesale lender is not named)
Account typeCredit toward the loan
Brokerage accounts (stocks, bonds, funds)100% of the balance
Certificates of deposit100% of the balance
Money market accounts100% of the balance
Savings and checking100% of the balance
Retirement accounts (401(k), IRA) — owner under 59½90% of the balance
Retirement accounts (401(k), IRA) — owner 59½ or older100% of the balance
Asset depletion path — the share of each account that enters the income calculation, before the balance is divided by 60 months
Account typeShare counted
Cash accounts100% of the balance
Certificates of deposit100% of the balance
Securities (stocks, bonds, funds)80% of the balance
Private stock75% of the balance
Retirement accounts (any age)70% of the balance
Real-estate equity60% of the balance
Maximum leverage by path and occupancy — purchase, rate-and-term refinance, and cash-out refinance
Path and occupancyPurchaseRate-and-termCash-out
Asset qualifier — primary residence or second home80%75%set by the lender
Asset depletion — primary residence80%80%60%
Asset depletion — second home80%80%60%
Asset depletion — investment property65%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.

Program Notice

For informational purposes only. This is not a commitment to lend or extend credit, an offer, or a quote. Program parameters shown are wholesale lender guidelines in force on the date shown, are subject to change without notice, and every figure depends on the borrower, the property, the occupancy, the selected path, and full underwriting. Asset credit percentages and the qualifying arithmetic shown are illustrative; the lender’s own calculation governs. Lendmire is a mortgage broker, not a lender, licensed to broker consumer mortgages in sixteen states. NMLS #2371349.

Dothan Asset-Based Mortgage Guide

What an asset-based mortgage is — and how the two paths qualify a file.

The program’s distinguishing rule is how much of an account it counts, and that it will count retirement money on the path that documents no income at all. For a Dothan household living on a portfolio, the practical questions are which path fits, how each account type is credited, and how long the money needs to have been in place. The four cards answer them in order.

For the program overview, see Lendmire’s asset-based mortgage program, or the statewide guide at Asset-Based Mortgage in Alabama; for the age rule on retirement withdrawals, see the IRS.

01.

Two paths, one program

A Dothan loan officer reads the statements against both paths before recommending one. Covering the loan outright keeps income out of the file and keeps the reserve requirement off at the refinance leverage, but it needs assets equal to the loan. Depleting the assets into income does not need the balances to cover the loan, opens investment property and cash-out at their own ceilings, and brings the ratio test back. The recommendation follows the balances.

02.

The asset qualifier path

Two months of statements for each qualifying account document the path, and the balances are read as they stand after the credit percentages. The credit floor is published; the leverage is published; the largest loan is published. What the lender settles file by file is which accounts are eligible and how the age rule applies to each retirement account, and a Dothan loan officer settles that before an offer is written.

03.

The asset depletion path

The path exists for the household whose assets are substantial but short of the loan. The minimum is a stated pool of qualified assets or a multiple of the loan balance, whichever is less, with a floor on liquid assets when the depletion income is the only income in the file. When the asset income merely supplements documented earnings, the minimum-assets rule is waived and the combined ratio may run to forty-five percent.

04.

Seasoning, statements, and what counts

The statements are read twice on a Dothan file: first for seasoning, two months on the asset qualifier path and a statement at least four months old plus the latest one on the asset depletion path, then for how much of each eligible account counts. Covering the loan credits most accounts in full and retirement accounts by the owner’s age; converting assets into income applies haircuts by account type and ignores age. The same balance sheet produces two usable totals, and the loan officer shows both before underwriting settles the path.

The Core Calculation
Price − down payment = loan; loan ≤ usable assets = the asset qualifier test is met; loan > usable assets = the asset depletion path, where the derived income must carry the ratio; credit, seasoning, and leverage still apply.

The calculator runs a Dothan 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.

Dothan Market Context

Dothan’s market in figures — and how asset-based lending fits.

A Dothan asset-based loan is sized to a price, and the price is set by the market these figures describe: the population, the median value, the owner share, and the owner-household count from the Census Bureau’s latest estimate. The snapshot above holds the program’s figures; this block holds the market’s.

Citywide figures provide general market context, not an appraisal or an income calculation. 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.

71,514Population (ACS 2020–2024)
$194,000Median owner-occupied home value (ACS 2020–2024)
57.1%Households that own their home (ACS 2020–2024)
$55,792Median household income (ACS 2020–2024)

Data sources: U.S. Census Bureau — ACS 5-Year (2024) housing and population estimates, including tenure, home values, gross rents, and household income.

Dothan Submarkets

Distinct Dothan neighborhoods, distinct asset files.

A loan officer sees Dothan as a set of distinct files, not one market. Below are the submarkets where asset-based loans are written most often, with the path, the occupancy, and the appraisal question each one usually raises.

01.

High-rise and luxury condominiums

Dothan’s high-rise and luxury condominiums draw the buyers the program is built for: a household downsizing from a house it owns outright, with the proceeds in a brokerage account and no salary to show. The unit is a principal residence or a second home on either path, the dues enter the depletion ratio, and the lender’s project review runs alongside the asset review. Dothan is home to about 72K people.

02.

Newer luxury infill and new construction

New luxury construction in Dothan appraises cleanly, so the file is about the amount: a loan near the top of the program needs usable assets to match on the asset qualifier path, or a depletion income large enough to carry the payment. The calculator on this page shows both readings for a price in that range. Median household income in Dothan sits near $55,792 on the latest Census estimate.

03.

Two-to-four-unit homes

Small multi-unit buildings in Dothan attract the asset-rich buyer who wants rental income beside the portfolio. Financed as an investment, the file is a depletion file: haircut assets divided into income, the investment leverage row, and a stronger score for a first-time investor. About 43% of Dothan’s households rent — roughly 12,599 renter households on the latest Census estimate.

04.

Second homes and pied-à-terre purchases

Second homes are the program’s natural fit in Dothan: 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 16,752 Dothan households own their homes on the latest Census estimate — 57% of all households, the pool an asset-based purchase joins.

05.

Close-in architect-designed homes

A distinctive Dothan 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 Dothan 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.

06.

Estate properties

At the top of the Dothan 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. The median owner-occupied home value in Dothan runs near $194,000 on the latest Census estimate.

Across these Dothan submarkets the program is identical; what varies is the price the assets must cover or carry and the occupancy the buyer intends. A loan officer confirms the path, the credit, and the leverage for the specific file before an offer is written.

How Dothan Buyers Use Asset-Based Mortgages

Four ways Dothan buyers put their assets to work.

Four ways Dothan buyers put the program to work, from a principal residence bought on assets alone to a rental financed on depletion income. Each use names the path and the detail that most often decides the file.

Borrow rather than sell

Keep the investments invested

For a Dothan 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.

Asset qualifier purchase

Buy a home on assets alone, with no income in the file

When the balance sheet covers the loan, a Dothan household keeps the income question out of the file entirely. The lender credits the accounts, confirms the total against the loan, checks the leverage for a purchase, and reads the credit report; reserves are not required at or below the refinance leverage, and the path reaches well into the jumbo range.

After a sale or an exit

Buy after a liquidity event, before the next venture

A liquidity event produces exactly the balance sheet the program is built for: assets well above the loan and earnings that have paused. A Dothan buyer in that position covers the loan on the asset qualifier path with no income in the file, or, if the proceeds are smaller, converts them into income on the depletion path with the seasoning excused.

Asset qualifier refinance

Refinance a home the assets already stand behind

A Dothan owner with a mortgage written on income that no longer exists on paper refinances on the asset qualifier path when the usable assets cover the new loan. The refinance leverage sits below the purchase leverage; whether cash can be taken out on this path, and at what leverage, is set by the lender and is not published.

Asset Coverage Estimate

Measure a Dothan loan against the assets before requesting a review.

Use the calculator to see which path a Dothan balance sheet favors. If the usable assets cover the loan, the asset qualifier path is open and no income enters the file; if they fall short, the depletion reading beside it shows the monthly income the assets would produce and the payment that income would need to carry.

Editable asset-based scenario

Dothan asset coverage estimate

The starting figures are a Dothan price in the upper part of the market with a loan at seventy percent of it and a balance sheet that covers the loan at the under-59½ retirement credit. Every field is editable, and the benchmark updates weekly from the Freddie Mac series.

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.

—Loan-to-value against the path’s ceiling for the purpose chosen.
—Usable assets on the asset qualifier path against the loan amount.

Illustrative starting assumptions: a $500,000 price above the Dothan 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 Alabama (U.S. Census Bureau). Every field is editable.

Asset qualifier path — do the assets cover the loan?
—
Usable assets after the credit percentages, measured against the loan amount entered.
—Usable assets on the asset qualifier path (retirement credited by the owner’s age)
—Largest loan these assets cover on the asset qualifier path, inside the leverage ceiling
—Assets counted on the asset depletion path, after the haircuts
—Monthly qualifying income on the asset depletion path (counted assets divided by the divisor)
—Estimated total monthly housing payment: principal and interest at the benchmark, plus taxes and insurance
—Housing payment and other debts against the depletion income

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.

Asset Qualifier vs. Asset Depletion vs. Bank Statement

Same buyer, three ways to document the file.

A Dothan buyer who cannot document income the conventional way has three documentation routes in this program family, and the routes are not interchangeable: assets that cover the loan, assets converted into income, or business deposits read as income. The cards below put the three side by side on the questions that separate them.

Structure Comparison

Assets that cover the loan, assets as income, or deposits as income.

The asset qualifier path

Usable assets equal to the whole loan, no employment or income documented, principal residences and second homes, purchase and refinance at the path’s leverage, two months of statements, reserves not required at or below the refinance leverage. The path with the fewest questions, and the one that asks the assets to cover the whole loan.

The asset depletion path

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 bank statement loan

The deposit route reads the statements for inflows rather than balances. For a business owner whose accounts turn over, it can produce a larger qualifying income than depleting the balance would; for a retiree with no deposits, it produces nothing. See Lendmire’s bank statement loan program.

Where each one fits

Assets that cover the loan, assets that become income, deposits that become income: three answers to one question, and the right one for a Dothan 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.

Typical File Components

What to prepare for a Dothan scenario review.

Because the assets are the whole case on the asset qualifier path and most of it on the depletion path, the lender reads them carefully. A Dothan buyer who assembles complete statements, with the transfers and the deposits explained, is far less likely to meet the questions that stall a file.

Government photo IDCurrent identification for every borrower on the loan; the lender verifies identity and runs the required screening before the file is placed with the program.
Occupancy statementPrincipal residence, second home, or investment property; the occupancy decides which path is open and which leverage ceiling applies, and it is confirmed with intent and use.
Retirement account statements and the owner’s date of birthA 401(k) or IRA is credited by the owner’s age on the asset qualifier path, so the lender confirms which side of the age line the owner stands on for each account.
Gift documentation, where a gift is part of the pictureA gift letter and the transfer trail for any gifted funds, read under the lender’s gift rules for the path chosen and documented like any other deposit.
Brokerage statements showing holdingsThe lender reads what the account holds, not only its balance; publicly traded securities count, while stock options and unvested restricted stock do not.
Statements for every qualifying accountAll pages, for the months the path requires: two months on the asset qualifier path, and on the depletion path a statement at least four months old plus the most recent one.

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.

Dothan File Considerations

Local details that can change the loan.

The figures in the snapshot are the program’s; the details below are where a Dothan file moves. Which side of the age line the owner stands on, how long the money has been in place, which accounts the lender will count, and which path the occupancy allows are settled before the terms are written.

Before You Move Forward

Use these checks to keep the Dothan file clean and fundable.

Three things to settle before a Dothan review: which side of the age line the owner of each retirement account stands on, whether every account has seasoned for the path, and whether the usable total reaches the loan or the file belongs on the depletion path instead.

  • Confirm the age rule: each retirement account is credited by its owner’s age on the asset qualifier path.
  • Count the months: two months of statements per account cover the loan on the asset qualifier path.
  • Confirm the reserves: reserves are not required on the asset qualifier path at or below the refinance leverage.
i.

Retirement accounts and the age line

The owner’s age decides how much of a 401(k) or IRA counts on the asset qualifier path: a reduced share under 59½ and the full balance from 59½ on. For a Dothan file built mostly on retirement money, a birthday can be the difference between covering the loan and falling short, and a loan officer checks the date against the age line before the path is chosen.

ii.

Seasoning by path

Seasoning is the detail that most often sets the calendar for a Dothan asset-based purchase. The asset qualifier path is the shorter wait; the depletion path is longer except where the funds came from the sale of a business, an inheritance, or a legal settlement. A loan officer reads the statements against the path’s clock before the contract is signed.

iii.

Reserves by path

On the asset qualifier path reserves are not required at or below the refinance leverage; above it the lender sets the requirement. On the depletion path the program lists no reserve months for the path itself, though the assets that produce the income are, by nature, in reserve. A Dothan loan officer confirms what, if anything, must be held after closing.

iv.

Leverage by purpose

The purchase ceiling and the refinance ceiling are not the same on the asset qualifier path, and on the depletion path a cash-out carries its own, lower ceiling on every occupancy. A Dothan borrower refinancing on assets plans the new loan against the refinance figure, not the purchase figure, and a cash-out against the cash-out figure.

v.

Supplementing income with asset income

The depletion path can add asset income to documented earnings rather than replace them. The combined ratio may run to forty-five percent when the income is supplemented, and the minimum-assets rule is waived. For a Dothan household with a pension, a part-time income, or a small business and a meaningful portfolio, the supplemented file is often the stronger one.

A Clear Process

From a Dothan asset review to keys in hand.

From the first conversation to the keys, a Dothan 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.

i.

Asset review

The first conversation settles the shape of a Dothan file: which path the balances support, what leverage the purpose allows, how long the accounts have seasoned, and whether the usable total clears the loan with a margin. The review names the path, and the loan officer writes the outcome down before any offer is drafted.

ii.

Contract and appraisal

A Dothan buyer on assets competes like any financed buyer: the contract, the appraisal contingency, and the timeline are the usual ones. What differs is that no employment verification sits in the path on the asset qualifier side, so the file is often quieter than an income file at this stage.

iii.

Underwriting

The underwriter reads what the loan officer read: the statements for the required months, the eligibility of each account, the credit shares or the haircuts, the usable total against the loan or the derived income against the payment, the credit report, and the appraisal. A Dothan file that was documented completely at review usually moves through with few new questions.

iv.

Closing

Closing on an asset-based loan looks like any other closing from the outside. From the inside, the difference is what did not happen along the way: no employment call, no tax transcript, no income calculation on the asset qualifier path. A Dothan loan officer attends to the funds to close so the usable total is intact.

Why Lendmire

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 Dothan buyer.

i.

Both paths, one set of statements

The comparison printed on this page is run for real on every Dothan file: assets that cover the loan beside assets that become income beside deposits read as income, and the written terms follow from it. The buyer sees the usable total on each path, the margin above the loan, and the derived income beside the payment before anything is signed.

ii.

The account rules explained before the offer

Reading the statements early is the whole method. A Dothan 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.

iii.

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 Dothan buyer gets the terms in writing from a licensed loan officer, and nothing on this page is an offer or a quote.

Client Experiences

Trusted by buyers & families alike.

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Joseph Edwards
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Highly recommend, Cori was awesome to work with and had great communication. She was very helpful and got us through everything to close.
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K Star Real Estate LLC
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Cori on the Lendmire team was phenomenal! She was two steps ahead through the entire process of purchasing an investment property. She was solving problems before anyone knew there could have been a problem. Great communication, great availability, all around a great person to work with. She is the reason our deal closed. We look forward to working with her again in the very near future!
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Tristen Mosley
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Alayna Pack is very knowledgeable, helpful, communicative, and transparent. Highly recommend.
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J Mills
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Leigh is absolutely the best! Professional yet personable, diligent, and incredibly responsive. She was with us throughout the process and helped us secure a competitive rate. Leigh went above and beyond to make sure all of our questions were answered, and offered deep explanations for questions that arose. We felt supported through the entire process and trust her expertise completely. 5 stars!
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Tyjuana Atkinson
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Awesome experience!!!!!!! Leigh had our best interest at heart from beginning to the end.
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Anna Hernandez
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Curt Galbraith was a Great Loan Originator and goes above and beyond for his clients, working with him on this transaction was so easy. I would recommend him for any Buyers looking to Buyer or Refinance. Great Service all around
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RustynKelli Shelton
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Brenda is absolutely one of the most professional hardworking lenders we have ever dealt with; she’s helped clients of ours and now us personally. Her communication is top notch, you never feel like you’re forgotten or left to figure things out on your own, great to answer questions and explain each step. Definitely recommend Brenda to walk along beside you in your purchase process!
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Isaac Alonzo
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As a first time home buyer Curt Galbraith was a wonderful man, he explained everything i had questions about and took time out of his day to meet up late at nights after my night shift, to explain things to me .Over all Curt was really helpful all through closing and always there when you needed him. Thank you so much Curt for helping me through out the whole process.
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Jason Fleck
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Brenda, Samantha and the Lendmire team were absolutely fantastic to work with. We had to jump through some major hurdles to get this home done, which most lenders would have gave up, they kept pushing to get this home done for us. I would absolutely recommend Brenda and team to anybody. Thank you so much for your commitment, communication, perseverance through the whole process. Jason & Brooke
Questions Dothan Buyers Ask

Dothan asset-based mortgage FAQs

The questions below are the ones a Dothan loan officer hears first from a buyer who has assets and no income on paper. The answers describe the program’s rules in words; the figures live in the snapshot above.

What is an asset-based mortgage?

Think of it as the mortgage for the buyer who could pay cash but would rather not. The accounts stay invested, the lender reads them on paper, and the loan is sized to what the usable assets cover or to the income they produce. For a Dothan household with wealth and little income on paper, it is often the mortgage that fits.

How does the asset qualifier path work?

The lender adds up the eligible accounts, credits each at its share, and compares the total with the loan. If the total equals or exceeds the loan, the Dothan file is read on assets alone: no employment verification, no tax returns, no income calculation. The leverage is a share of the price on a purchase and a lower share of the value on a refinance.

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?

A 401(k), a traditional or Roth IRA, and similar employer plans are read the same way: by the owner’s age on the asset qualifier path and at a flat haircut on the depletion path. Vested balances count; stock options and unvested restricted stock do not. A Dothan loan officer confirms each account’s treatment at the review.

What credit score does an asset-based mortgage need?

Credit enters through a floor on one path and a matrix on the other, with the housing history read on the depletion path. The figure for the asset qualifier floor is in the snapshot; the depletion path’s requirement depends on the loan amount and the leverage, and a loan officer names it for the specific Dothan file.

Do I need to show any income at all?

Not on the asset qualifier path. No employment is verified and no income is documented; the lender’s ability-to-repay review rests on the assets, which is why they must cover the whole loan. On the asset depletion path the assets are converted into income, and any documented earnings can be added to it.

How long do the assets need to be in the accounts?

Count the months before the offer. For a Dothan purchase timed after a sale or an exit, the asset qualifier path is usually reachable sooner, and the depletion path’s seasoning is excused for sale-of-business, inheritance, and settlement funds, so the path choice can turn on the calendar as much as on the balances.

What sets the timeline on an asset-based mortgage?

The timeline is set by the appraisal, the title work, and the documentation of the accounts, not by the program. A Dothan file whose statements are complete and whose deposits are documented moves on the ordinary purchase calendar; one with unexplained deposits or missing pages waits for them.

Are reserves required?

No reserve months are published for the asset qualifier path at or below the refinance leverage, and the depletion path lists none; above the refinance leverage the lender sets the requirement. The assets that qualify the loan stay where they are, and the lender reads them again for a Dothan file after the funds to close are drawn.

How much can I borrow against the price or the value?

On the asset qualifier path a purchase reaches a share of the price and a refinance a lower share of the value, both shown in the snapshot. On the asset depletion path a purchase or rate-and-term refinance on a principal residence or second home reaches the same purchase share, a cash-out stops lower, and investment property, on the depletion path only, has its own lower purchase ceiling and the same cash-out ceiling.

Get Started

Qualify on what you own in Dothan, with both paths read.

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.