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
The largest loan on the asset qualifier path is $4,000,000, provided the usable assets equal or exceed it; the asset depletion path tops out at $3,500,000. Neither figure is a quote, and the lender’s own calculation of the usable assets governs the amount.
The asset qualifier path’s published floor; the depletion path follows the suite’s score and amount matrix
The asset qualifier path publishes a 600 decision-score floor. The asset depletion path follows the score and loan-amount matrix of the documentation suite it belongs to, where the floor rises with the leverage and the amount. The score is read from the credit report at application; it is never promised here.
That ceiling on a purchase and 75% on a refinance when assets cover the loan; 60% on a depletion cash-out
On the asset qualifier path a purchase reaches 80% of the price and a refinance 75% of the value, on a principal residence or a second home. On the asset depletion path a purchase or rate-and-term refinance reaches the same 80% on those occupancies, and a cash-out refinance stops at 60%.
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.
Program guidelines only, not an offer of credit. The loan amounts, credit floors, leverage limits, asset credit percentages, haircuts, divisor, and seasoning rules on this page are wholesale program parameters subject to change without notice and to full underwriting of the borrower and the property. Which accounts count and how the age rule applies are settled by the lender. Lendmire is a mortgage broker, not a lender, licensed for consumer mortgages in sixteen states. NMLS #2371349.
What an asset-based mortgage is — and how the two paths qualify a file.
An asset-based mortgage is a consumer mortgage qualified on what a household owns rather than what it earns. The program behind these pages offers two ways to prove ability to repay from assets, and the choice between them is the first decision in an Indianapolis file: cover the loan outright, or convert the assets into income. The cards below walk through the paths, the account rules, and the seasoning.
For the program overview, see Lendmire’s asset-based mortgage program, or the statewide guide at Asset-Based Mortgage in Indiana; for the age rule on retirement withdrawals, see the IRS.
Two paths, one program
An Indianapolis 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.
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 an Indianapolis loan officer settles that before an offer is written.
The asset depletion path
On this path the eligible balances are reduced by account type, the total is spread over the divisor, and the monthly figure is read as income against the housing payment and other debts. Seasoning is longer here than on the asset qualifier path: statements at least four months old at application plus a current one, unless the money came from the sale of a business, an inheritance, or a legal settlement. An Indianapolis loan officer sorts the eligible accounts from the ineligible ones at the start.
Seasoning, statements, and what counts
Seasoning is the proof that the assets are the borrower’s to keep: two months of statements on the asset qualifier path, older statements plus the current one on the asset depletion path. Large recent deposits inside that window are read, not ignored: a transfer between the borrower’s own accounts is documented as such, a sale of property or a business with its paperwork, and a gift under the lender’s gift rules. An Indianapolis file that shows the trail cleanly meets fewer questions in underwriting.
The calculator runs an Indianapolis 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.
Indianapolis’ market in figures — and how asset-based lending fits.
An Indianapolis 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.
Read the figures as backdrop. 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 Indianapolis neighborhoods, distinct asset files.
Each card below is an Indianapolis submarket seen through the program: who buys there on assets, which path usually fits, and what the loan officer checks first. The figures in the snapshot apply everywhere; the emphasis changes from one card to the next.
Close-in architect-designed homes
The architect-designed homes on Indianapolis’ close-in streets are hard to value, and on an asset-based file the appraisal decides the leverage: the loan is measured against the lower of price and value. A buyer covering the loan on assets answers a low appraisal with a larger down payment, which lowers the loan the assets must cover. On a home in Indianapolis 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.
Estate properties
An estate purchase on assets is sized against the program ceiling and the usable total at once. An Indianapolis buyer near the ceiling is read closely on the margin, on which accounts count, and on the age rule for retirement money, because a small change in the credited total moves a large loan. The median owner-occupied home value in Indianapolis runs near $224,800 on the latest Census estimate.
Newer luxury infill and new construction
A newer Indianapolis home at the top of the market rarely draws condition notes; the question is whether the balance sheet covers a loan that size or converts into an income that carries it. The loan officer reads the statements against the program ceiling before the contract. Roughly 203,339 Indianapolis households own their homes on the latest Census estimate — 56% of all households, the pool an asset-based purchase joins.
Two-to-four-unit homes
Small multi-unit buildings in Indianapolis 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 44% of Indianapolis’ households rent — roughly 159,622 renter households on the latest Census estimate.
Second homes and pied-à-terre purchases
Second homes are the program’s natural fit in Indianapolis: 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. Median household income in Indianapolis sits near $66,219 on the latest Census estimate.
High-rise and luxury condominiums
An Indianapolis 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. Indianapolis is home to about 886K people and sits within the Indianapolis-Carmel-Greenwood, IN area.
Across these Indianapolis 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.
Four ways Indianapolis buyers put their assets to work.
Four ways Indianapolis 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.
Buy a home on assets alone, with no income in the file
The defining use of the program is the purchase qualified on the balances: brokerage, savings, money market, certificates of deposit, and retirement accounts credited by the owner’s age, adding up to the loan. For an Indianapolis retiree the file is the statements and the credit report, and the home can be the principal residence or a second one.
Keep the investments invested
Borrowing against the strength of a balance sheet rather than spending it is the program’s quiet use. The Indianapolis buyer keeps the brokerage account, the retirement accounts, and the savings in place; the lender reads the statements and writes the loan. Which path fits depends on whether the credited total reaches the loan and on the occupancy, since a rental is a depletion file.
Finance a second home or a rental on assets
For a rental, the asset depletion path is the only path open, at the investment-property leverage, with cash-out at the depletion path’s cash-out ceiling. For a second home, both paths are open. An Indianapolis loan officer sorts the occupancy first, because it decides the path before the balances are even read.
Refinance a home the assets already stand behind
The refinance is the retiree’s use: the income that qualified the original loan has stopped, the portfolio has not, and the asset qualifier path reads the portfolio. An Indianapolis file needs usable assets equal to the new loan, a loan inside the refinance leverage, and two months of statements per account.
Measure an Indianapolis 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. An Indianapolis loan officer runs the lender’s own version before anything is written.
Indianapolis asset coverage estimate
The starting figures are an Indianapolis 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.
Illustrative starting assumptions: a $500,000 price above the Indianapolis 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 Indiana (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.
For an Indianapolis buyer with assets and an unconventional income picture, the comparison is between covering the loan, depleting the assets, and documenting deposits. The rows set out the strengths of each, and the last row says where each one fits.
Assets that cover the loan, assets as income, or deposits as income.
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.
Haircut assets divided by the divisor into a monthly income, then the debt-to-income test with the new payment. Principal residences, second homes, and investment property; purchase, rate-and-term, and cash-out at published ceilings; a minimum-assets rule when the income stands alone; longer seasoning.
A different question entirely: not what the household owns but what the business brings in. The bank statement loan suits the Indianapolis 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 an Indianapolis 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 an Indianapolis 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. An Indianapolis buyer who assembles complete statements, with the transfers and the deposits explained, is far less likely to meet the questions that stall a file.
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.
These are the questions an Indianapolis loan officer asks before recommending a path, because each can change the loan: the retirement credit, the seasoning, the eligible accounts, the occupancy, and the leverage for the purpose. None is a surprise if it is asked early.
Use these checks to keep the Indianapolis 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. An Indianapolis 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.
- Explain the deposits: every large recent deposit is documented with its source.
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. An Indianapolis 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 is the detail that most often sets the calendar for an Indianapolis 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.
Large and recent deposits
Sale-of-business, inheritance, and legal-settlement funds are excused from the depletion path’s seasoning but still documented with their source. For an Indianapolis file, the paperwork behind the deposit is as important as the balance, and gathering it early is what keeps the calendar. The source documents travel with the statements.
Occupancy decides the path
A second home on assets is common and straightforward on both paths; a rental on assets is a depletion file by definition. The Indianapolis loan officer confirms the occupancy with the borrower’s intent and the property’s use, and the lender holds the file to it. A rental’s own appraisal and lease are read beside the statements.
Leverage by purpose
Whether cash can be taken out on the asset qualifier path, and at what leverage, is set by the lender and not published; the depletion path’s cash-out ceiling is published, and cash-out proceeds never count as assets. An Indianapolis loan officer confirms the cash-out treatment with the lender before a refinance is structured.
From an Indianapolis asset review to keys in hand.
An asset-based purchase runs in a fixed order: a review of the statements that settles the path and the leverage, a contract and an appraisal, underwriting of the accounts and the credit, and closing. The steps below describe each for an Indianapolis file.
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 an Indianapolis 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
Underwriting on an asset-based file is about the accounts: every page of every statement, every large deposit explained, every retirement owner’s age confirmed, the seasoning counted. On the depletion path the ratio is calculated with the new payment; on the asset qualifier path the total is confirmed against the loan.
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 an Indianapolis file keeps a margin above the threshold.
A brokerage that reads both paths.
A single lender with one asset program sells that program. A brokerage with both paths on the table can say which one an Indianapolis file supports and why. That is the service: the statements read twice, the usable totals shown side by side, the recommendation following the numbers.
Both paths, one set of statements
An Indianapolis file is never assumed onto a path. The balances are read both ways, and when the depletion income would supplement documented earnings that version is run as well. The recommendation is the version with the cleanest file and the leverage that fits the purpose. The loan officer shows the arithmetic, not just the answer.
The account rules explained before the offer
Reading the statements early is the whole method. An Indianapolis 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
Lendmire is a mortgage broker, not a lender, and the lender behind these pages is never named. The program parameters shown are wholesale guidelines, subject to change and to full underwriting; the Indianapolis loan officer’s written terms are what the buyer relies on.
Trusted by buyers & families alike.
Indianapolis asset-based mortgage FAQs
The questions below are the ones an Indianapolis 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 an Indianapolis household with wealth and little income on paper, it is often the mortgage that fits.
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?
Picture the balance sheet spread evenly across a span of months: that monthly slice is the income the lender uses. For an Indianapolis household, the question is whether that slice, added to any documented income, carries the housing payment and the other debts within the ratio. The calculator on this page shows the slice beside the payment.
How are 401(k) and IRA balances counted, and why does 59½ matter?
Retirement money counts on both paths, and it counts most generously on the asset qualifier path for an owner past the age line. For an Indianapolis file built mostly on retirement balances, the owner’s birthday can decide whether the assets cover the loan, and a loan officer checks the date first.
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 Indianapolis file.
How long do the assets need to be in the accounts?
On the asset qualifier path, two months of statements for each qualifying account. On the asset depletion path, a statement at least four months old at application plus the most recent one, with funds from the sale of a business, an inheritance, or a legal settlement excused from the wait. The money must be traceable as the borrower’s.
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. An Indianapolis loan officer reads the calendar at the review.
Which accounts count, and which do not?
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 differs. An Indianapolis household whose wealth is concentrated in a private company, in options, or abroad may find the usable total smaller than its net worth, and a loan officer sorts the statements into eligible and ineligible before the path is chosen.
How is this different from a bank statement loan?
A bank statement loan reads the deposits flowing into a self-employed owner’s accounts as income; an asset-based mortgage reads the balances sitting in the accounts. The first suits the Indianapolis business owner with strong cash flow and modest savings; the second suits the household with strong savings and little or no income. Lendmire places both.
I just sold my business. Can I buy on the proceeds?
Yes, and the program is built for it. Once two months of statements show the proceeds in the account, the asset qualifier path reads them toward covering the loan with no income in the file. On the depletion path, sale-of-business funds are excused from the usual seasoning and documented with the sale paperwork instead.
Qualify on what you own in Indianapolis, with both paths read.
Share the balance sheet once; the review covers the asset qualifier path, the asset depletion path, and the alternatives on the same statements. The terms come in writing from a licensed loan officer.
This guide covers Indianapolis — for the statewide guidelines, markets, and scenarios, see Asset-Based Mortgage in Indiana, part of Lendmire’s asset-based mortgage program.
Nearby markets in Indiana: Greenwood · Carmel · Fishers · Anderson · Columbus · Bloomington · French Lick · Fort Wayne
Related programs: Bank Statement Loans · Jumbo Loans · Super Jumbo Bank Statement Loans