Current asset-based guidelines, updated from one source.
One guideline source feeds every number here, and the page updates when the source does. The four cards carry the headline figures; the tables underneath show how each account type is credited on the asset qualifier path, how each is haircut on the asset depletion path, and what leverage each path and occupancy allows. The wholesale lender is not named.
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
Retirement accounts are the figure that moves most with the borrower. On the asset qualifier path a 401(k) or IRA counts at 90% of its balance while the owner is under 59½ and at 100% from 59½ on. On the asset depletion path retirement balances count at 70% of the balance at any age.
| 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 a Livonia 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 Michigan; for the age rule on retirement withdrawals, see the IRS.
Two paths, one program
The asset qualifier path and the asset depletion path share a premise and differ in arithmetic. Both qualify a Livonia buyer on eligible accounts rather than earnings. The first requires the usable assets to equal or exceed the entire loan and documents no employment or income; the second does not require the assets to cover the loan: it converts them into a monthly income and runs that income through the debt-to-income test with the new payment included.
The asset qualifier path
On the asset qualifier path the lender adds up the eligible accounts, credits each at its share, and compares the total with the loan. Brokerage accounts, certificates of deposit, money market accounts, and savings count in full; a 401(k) or IRA counts at a reduced share while the owner is under 59½ and in full from 59½ on. Accounts combine across types, so a Livonia buyer with a mixed balance sheet is read on the sum.
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.
Seasoning, statements, and what counts
The statements are read twice on a Livonia 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.
Enter the Livonia price and the loan wanted, then the balances. The first result is the asset qualifier verdict: the usable assets cover the loan or fall short by a stated margin. The second set of results is the asset depletion reading: the haircut assets, the monthly income they produce, and the housing payment at the benchmark against that income.
Livonia’s market in figures — and how asset-based lending fits.
A Livonia 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.
Data sources: U.S. Census Bureau — ACS 5-Year (2024) housing and population estimates, including tenure, home values, gross rents, and household income.
Distinct Livonia neighborhoods, distinct asset files.
Each card below is a Livonia 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
Value drives the leverage on a one-of-a-kind Livonia home; the accounts drive the rest. A loan officer runs the file at the contract price and at a lower appraised value so the buyer knows the margin on both before the offer. A margin above the loan is the usual protection. On a home in Livonia 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.
Newer luxury infill and new construction
Builder inventory and new infill in Livonia 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. Livonia is home to about 94K people and sits within the Detroit-Warren-Dearborn, MI area.
Two-to-four-unit homes
A Livonia two-to-four-unit home bought to live in one unit is an owner-occupied file and can sit on either path where the lender’s property rules allow; bought as a rental it is an investment occupancy on the depletion path at the investment ceiling. The occupancy is settled first because it decides which path and which leverage apply. Median household income in Livonia sits near $98,460 on the latest Census estimate.
High-rise and luxury condominiums
The downsizer’s file: the house is sold, the proceeds sit in the accounts, and the Livonia condominium is bought on the statements. Two months of statements season the proceeds on the asset qualifier path; the project review and the appraisal are the building’s questions, not the borrower’s. The median owner-occupied home value in Livonia runs near $281,100 on the latest Census estimate.
Estate properties
At the top of the Livonia 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 13% of Livonia’s households rent — roughly 4,924 renter households on the latest Census estimate.
Second homes and pied-à-terre purchases
Second homes are the program’s natural fit in Livonia: 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 33,424 Livonia households own their homes on the latest Census estimate — 87% of all households, the pool an asset-based purchase joins.
Submarkets change the appraisal and the price. They do not change the credit percentages, the haircuts, the divisor, the leverage ceilings, or the seasoning. A Livonia file is qualified on those rules wherever the home is.
Four ways Livonia buyers put their assets to work.
Four ways Livonia 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.
Turn a portfolio into qualifying income
When the balances will not cover the loan, the depletion path turns them into a monthly figure instead. For a Livonia buyer that means a longer seasoning, haircuts by account type, retirement balances counted at a flat share regardless of age, and a file that is read like any income file once the income is derived.
Buy a home on assets alone, with no income in the file
A Livonia buyer whose usable assets equal or exceed the loan buys a principal residence or a second home on the asset qualifier path: no employment verified, no tax returns, no income calculation. The down payment is at least the share of the price above the leverage ceiling, the statements cover two months, and the credit score sits at or above the published floor.
Finance a second home or a rental on assets
A second home is reachable on either path at the same purchase leverage; an investment property is reachable on the asset depletion path only, at a lower ceiling. A Livonia buyer financing a rental on assets is qualified on the depletion income, the rental is underwritten as an investment occupancy, and a first-time investor needs a stronger score.
Buy after a liquidity event, before the next venture
After a sale, the question is documentation rather than qualification. The Livonia 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 Livonia 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 Livonia loan officer runs the lender’s own version before anything is written.
Livonia asset coverage estimate
A worked Livonia 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 Livonia 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 Livonia 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.
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 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.
Business or personal deposits over a run of statements, read as income with an expense factor, for the self-employed owner whose tax returns understate the business. Balances are not the point; cash flow is. Leverage and reserves follow that program’s own matrix. 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 Livonia 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 Livonia 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 Livonia 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.
The figures in the snapshot are the program’s; the details below are where a Livonia 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.
Use these checks to keep the Livonia file clean and fundable.
Three things to settle before a Livonia 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.
- Check the minimum: the pool is measured after the haircuts, not at face value.
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 Livonia 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 Livonia buyer timing a purchase after a liquidity event counts the months before the offer.
The minimum-assets rule on the depletion path
When depletion income is the only income in the file, the pool of qualified assets must meet a minimum: the lesser of a stated amount or a multiple of the loan balance, and never below a liquid floor. A Livonia buyer with a small loan clears it easily; a buyer with a large loan and a modest pool may not, and the minimum is read before the income is even calculated.
Reserves by path
The practical question for a Livonia 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.
Credit and housing history
Assets do not substitute for credit. A Livonia borrower with the balance sheet to cover the loan still needs the score at or above the floor; on the depletion path the housing history must be one the program accepts, and more than one bankruptcy is not eligible. The credit report is pulled once and read against the path chosen.
From a Livonia 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 a Livonia 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 a Livonia 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 Livonia 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
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 Livonia loan officer attends to the funds to close so the usable total is intact.
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 a Livonia 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
The comparison printed on this page is run for real on every Livonia 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.
The account rules explained before the offer
The age rule, the seasoning, and the eligible-account list are the three places an asset-based file surprises people. Lendmire walks a Livonia buyer through all three at the review, with the statements open, so the file that goes to underwriting is the file the buyer expected. The margin above the threshold is written down too.
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 Livonia 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.
Livonia asset-based mortgage FAQs
Plain answers to the questions Livonia 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 Livonia 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?
The age line is applied per owner and per account. A Livonia couple with accounts on both sides of 59½ sees each credited by its own owner’s age, and the sum counts against the loan. The accounts are not drawn on; the rule governs the credit, not the custody.
What credit score does an asset-based mortgage need?
A clean recent housing record and a score at or above the floor are the expectation. A Livonia buyer with a strong portfolio and a weak score is not repaired by the portfolio; the credit question is answered first, and the asset question second.
Can I take cash out?
The depletion path has a cash-out row in the leverage table, lower than the purchase and rate-and-term rows. The asset qualifier path publishes a refinance ceiling without a separate cash-out figure, so the lender’s rule governs. Either way the proceeds are not counted toward the usable total.
I just sold my business. Can I buy on the proceeds?
The work is documentation rather than qualification. The Livonia loan officer traces the proceeds with the purchase agreement and the closing statement, confirms the accounts they landed in, counts the months, and chooses the path the total supports. Inheritances and legal settlements are handled the same way.
How much can I borrow against the price or the value?
The ceilings are program parameters, not promises. A Livonia refinance on the asset qualifier path plans the new loan against the refinance figure; a cash-out on the depletion path against the cash-out figure; a rental against the investment row. The loan officer confirms the row for the 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.
How large can the loan be?
The ceilings differ by path because the paths prove ability to repay differently. A Livonia loan officer confirms the amount for the file after the usable total is calculated; the figures in the snapshot are the program’s limits, not an offer.
Keep the portfolio invested and finance the Livonia home on it.
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 Livonia — 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 · Farmington Hills · Dearborn · Detroit · Ann Arbor · Flint · Jackson · East Lansing
Related programs: Bank Statement Loans · Jumbo Loans · Super Jumbo Bank Statement Loans