The Quick Read: A Georgia business owner can buy a home by qualifying on documented savings and investments instead of traditional personal-income documentation, through select asset-based programs. Either your eligible assets cover the whole loan, or they are converted into a monthly qualifying income. The file is still fully underwritten, and your statements prove the assets.
- The asset qualifier path asks whether eligible assets equal or exceed the entire loan. It requires no traditional personal-income documentation, pay stubs or employment verification.
- The asset depletion path divides usable assets by 60 months to create qualifying income, which must then pass a debt-to-income test.
- Business accounts count only to the extent of your ownership share, so move funds into a regulated personal account early enough to season them.
- Money generally needs to sit in your account, with statements, before the lender will count it. Each path sets its own seasoning and statement rules.
- Georgia closings are generally handled by an attorney, so keep statements and source-of-funds explanations organized and consistent.
Georgia is one of the 16 states where Lendmire’s consumer mortgage lending is licensed. Lendmire is a broker, so it arranges these loans through select lenders in its network. The lender underwrites every file and makes the final decision.
Why Do Tax Returns Understate a Business Owner’s Real Position?
Traditional income documentation shows net profit after deductions, and a good accountant works hard to push that number down. That is smart tax planning, and it is also why a healthy owner can look thin on paper. Depreciation, owner perks, equipment purchases and money left in the company all reduce the income line a traditional lender reads.
Picture a Georgia contractor, restaurant owner or logistics operator whose company keeps growing. Profits go back into trucks, inventory and payroll. Personal savings pile up anyway, because the owner lives below the company’s means. A conventional underwriter looks at the return and sees modest income. The savings account tells a very different story.
Self-employed borrowers who cannot meet agency standards often end up outside the standard mortgage box. CFS Review’s commentary on self-employed borrower income notes that strict documentation rules have pushed many of them toward non-qualified mortgages. Asset-based lending is one of those alternatives.
Key Terms Defined
Asset qualifier path: a way to qualify where your eligible assets, after the program’s credit percentages, equal or exceed the whole loan amount.
Asset depletion path: a way to qualify where usable assets are divided by 60 months to create a monthly qualifying income.
Seasoning: the length of time money has sat in your account, shown by statements, before a lender will count it.
Debt-to-income (DTI): your monthly debts, including the new housing payment, compared with your qualifying monthly income.
Haircut: the share of an asset’s balance a lender does not count, usually because the asset can lose value or carries a penalty to cash out.
Non-QM: a mortgage that does not fit the standard agency documentation rules but is still underwritten to verify you can repay.
Two Paths: Assets Cover the Loan, or Assets Become Income
Both paths use your savings, but they ask different questions. Lendmire’s asset-based mortgage program is built around both, and a borrower is reviewed on one path at a time.
The asset qualifier path asks whether your eligible assets can cover the entire loan. If they can, the file does not document employment or income. The review rests on the assets. This path suits an owner with a large, clean cash and brokerage position and a loan smaller than that pile.
The asset depletion path treats your balances as if they paid you a salary. The lender takes usable assets, divides by 60 months, and gets a monthly qualifying income. That income must carry the full housing payment and your other debts through the DTI test. This path suits a borrower with large assets and a loan that is big relative to them.
Which one fits depends on the size of the loan compared with your assets. If your usable assets exceed the loan, the qualifier path is usually simpler, and it carries no DTI test. If they do not, the depletion path may still work, with lower leverage on some property types.
How the Asset Qualifier Path Counts Your Money
On the qualifier path, each account counts at a set percentage of its balance. Accounts combine to reach the loan amount.
| Asset type | Share that counts |
|---|---|
| Brokerage accounts | 100% |
| Certificates of deposit | 100% |
| Money market | 100% |
| Savings | 100% |
| 401(k) or IRA, under age 59½ | 90% |
| 401(k) or IRA, age 59½ or older | 100% |
Leverage on this path runs up to 80% loan-to-value on a purchase and 75% on a refinance, for a principal residence or second home. Loans run up to $4,000,000. The minimum credit score is 600, subject to underwriting. Seasoning is 60 days, with two months of statements for each qualifying account.
Reserves are not required at or below 75% loan-to-value. Above that, the lender sets them.
Illustrative example, qualifier path. Say you want an $800,000 loan. You hold $330,000 in brokerage accounts, which counts at 100%, or $330,000. You also hold $300,000 in a 401(k) while under 59½, which counts at 90%, or $270,000. Finally, you hold $200,000 in savings, which counts at 100%, or $200,000. Together that is $800,000 of usable assets against an $800,000 loan, so the file is reviewed on assets alone. The lender’s own calculation governs, and every file is subject to underwriting.
How the Asset Depletion Path Turns Savings Into Income
The depletion path applies haircuts, because some assets can drop in value or cost you to cash out.
| Asset type | Share that counts |
|---|---|
| Cash accounts | 100% |
| Certificates of deposit | 100% |
| Securities | 80% |
| Private stock | 75% |
| Retirement accounts, any age | 70% |
| Real-estate equity | 60% |
Several things do not count on this path. These are custodial accounts, deferred compensation, escrow accounts, foreign funds, cash on hand, stock options, non-vested restricted stock units, and funds from non-regulated financial companies. Cash-out proceeds from a refinance never count as qualifying assets either.
Leverage on a principal residence or second home runs up to 80% on a purchase or rate-and-term refinance and up to 60% on a cash-out refinance. On an investment property, the ceilings are 65% on a purchase or rate-and-term refinance and 60% on a cash-out. An investment-property loan on this path is business-purpose. Loan amounts run from $125,000 to $3,500,000.
The credit floor follows the lender’s score and loan-amount matrix. A first-time investor needs a 700 score. Housing history is generally 0x30x12, and one 30-day late in the last twelve months is considered case by case. Multiple bankruptcies are not eligible, and a housing event needs four years of seasoning.
Illustrative example, depletion path. Suppose you hold $1,500,000 in securities, which counts at 80%, or $1,200,000. You also hold $300,000 in cash, which counts at 100%, or $300,000. That makes $1,500,000 usable, and dividing by 60 months gives $25,000 of monthly qualifying income. That income then has to carry the housing payment and your other debts through the DTI test. Again, the lender’s own calculation governs.
The depletion path has minimums. Qualified assets must be at least the lesser of $1,000,000 or 1.25 times the loan balance. When asset depletion is your only income source, liquid assets can never be below $250,000. If you have documented income as well, asset-derived income can supplement it up to a 45% DTI, and the minimum-assets rule is waived in that case.
Business Money vs. Personal Money
This is where owners trip. Your company account is not your personal account, even if you own the company outright.
Business accounts count only to the extent of your ownership share, and anything beyond it is not published as eligible. Cryptocurrency, precious metals, collectibles, pledged funds and borrowed funds are also not published as eligible on either path. The documented route for these is converting them to a seasoned cash balance in a regulated account, with the lender reviewing the source.
Think about the practical side before you move money. A down payment or the balance you want counted can drain working capital your company needs. Pull too much and payroll gets tight. Leave too little in your personal name and the file may not reach the loan amount.
Two habits keep the file clean:
- Move business funds to your personal account early enough to season them, and keep the paper trail from the company account to yours.
- Avoid unexplained deposits and transfers between accounts shortly before you apply. Each one can generate a written question from the underwriter.
A withdrawal from your company can carry tax consequences. Tax treatment varies, so consult a qualified professional before moving funds.
What Documents Do You Need, and What About Seasoning?
Even though no conventional personal-income paperwork, pay stubs or employment verification are involved on the qualifier path, the assets are documented. The lender wants statements for every account it counts.
On the qualifier path, you need two months of statements for each qualifying account, and the money needs 60 days of seasoning. On the depletion path, statements must be at least 120 days old at application, plus the most recent statement within 45 days. Funds from the sale of a business, an inheritance or a legal settlement are excused from that seasoning.
A practical checklist before you apply:
1. List every account you want counted, and note its type and owner.
2. Pull full statements, with every page, for each of those accounts.
3. Move any business or non-eligible funds into a regulated personal account well ahead of time.
4. Write a short explanation of any large deposit, such as a sale of business interest.
5. Check your credit report and your housing payment history.
The Legal Frame: Why This Is Still a Full Mortgage
Asset-based lending is not a loophole. Federal rules require a lender to make a reasonable, good-faith decision that you can repay the loan. The CFPB’s ability-to-repay compliance guide lists the factors a lender must weigh, and the first is current or reasonably expected income or assets, not counting the home itself.
So the rule expressly allows assets to carry a file. Nolo’s plain-English explainer describes the same duty: a lender looks at income, employment status, credit history and other relevant factors. Because this is a consumer mortgage on your home, standard consumer loan disclosures apply as well.
Which Path Fits You?
The right choice depends on what you can document and what you are buying. This table describes how each program type treats the file.
| Program | What gets underwritten | Typical fit |
|---|---|---|
| Asset qualifier | Assets cover the whole loan | Large balances, smaller loan |
| Asset depletion | Assets converted to income, then DTI | Large balances, bigger loan |
| Bank statement program | Deposits as income | Owners with steady business deposits |
| Conventional or agency | Tax-return income | Returns that show strong net profit |
| DSCR | Property rent vs. its payment | Business-purpose rentals |
If your deposits are steady and strong, a bank statement program may fit better than spending down savings. Lendmire’s piece Can You Buy a Home With 1099 Income and No Tax Returns? covers that deposit-based route. For a rental purchase, DSCR is the usual route. The depletion path allows investment property, but at the lower leverage shown above.
Owners can also mix approaches across properties.
The Georgia Angle
The program figures do not change by state. What changes is context. In Georgia, closings are generally handled by an attorney. That means your statements, source-of-funds explanations and wire details will go to more than one party, so keep your documents organized and consistent. The lender decides what it needs, and each file is underwritten individually.
Trade-offs and Who This Is Not For
The trade-offs here are real, and an honest broker should lay them out.
- Liquidity gets tied up. Assets that qualify you must stay seasoned and documented. If you spend them, the file can shrink.
- Leverage can be lower. On the depletion path, cash-out is capped at 60%, and investment property is capped at 65% on a purchase.
- The depletion path needs scale. Qualified assets must reach the lesser of $1,000,000 or 1.25 times the loan, with a $250,000 liquid floor when assets are your only income.
- It may not beat a conventional loan. If your returns show strong income, a conventional file may be simpler. Terms differ across programs, so compare them side by side.
This route is probably not for you if most of your wealth is tied up in your business, if your balances are modest, or if your assets are mostly in categories that are not published as eligible. In those cases, a deposit-based program may work better.
Frequently Asked Questions
Can I really buy a home without standard personal-income documentation?
Yes, through select asset-based programs, subject to underwriting. The file does not use conventional income documentation, pay stubs or employment verification on the qualifier path. The lender still verifies your assets with statements and reviews credit and the property. It is a full mortgage review, built on a different kind of proof.
Does my business account count as an asset?
Only to the extent of your ownership share, and anything beyond it is not published as eligible. The documented route is moving funds into a seasoned cash balance in your own regulated account. The lender reviews where the money came from. Keep the transfer trail clear and give the money time to season.
Do I have to sell my investments to qualify?
No. Your assets are counted and documented, not liquidated. Whether you later use some of them for the down payment is your decision, but spending them can reduce the balance the lender counts. Plan the down payment and the qualifying balance together.
How is this different from a reverse mortgage?
A reverse mortgage is a separate product that borrows against the equity in a home you already own. An asset-based mortgage is a regular purchase or refinance loan. You make the payments, and the lender reviews your file on your assets.
Can I use this to buy a rental property?
On the depletion path, yes, with investment-property ceilings of 65% on a purchase and 60% on a cash-out refinance, subject to underwriting. The loan is business-purpose, and a first-time investor needs a 700 score. The qualifier path covers principal residences and second homes. DSCR remains the usual route for pure rental purchases.
Next Steps
If you are qualifying on assets rather than income and want to see how the numbers work, Lendmire can help you compare asset-based mortgage options based on your statements, the property, credit profile, leverage, and your goals. Start by listing your accounts and their balances. That list tells you which path is realistic before you talk to anyone.
Lendmire’s asset-based mortgage in Georgia page presents the program for Georgia borrowers.
About Lendmire
Lendmire (NMLS# 2371349) is a mortgage broker licensed for consumer lending in 16 states. Bank statement, P&L-only, 1099-only and asset-based mortgages for self-employed and high-net-worth borrowers are arranged through wholesale lenders on primary residences, second homes and investment properties; every file is underwritten by the lender under its program guidelines. Scotsman Guide named Lendmire a Top Mortgage Workplace in both 2025 and 2026.
Get Started
Ready to find the right loan for you?
In about 30 seconds you can review financing options available for your home or investment property. No commitment required.
Informational only. Not a Loan Estimate, approval, or commitment to lend. Program availability and eligibility are subject to lender guidelines, credit approval, property review, and underwriting.
References
1. CFS Review, self-employed borrowers and income
2. CFPB ability-to-repay and qualified mortgage compliance guide
3. Nolo, new mortgage rules and ability to pay
This article is part of Lendmire’s asset-based mortgage program — full qualification details, guidelines, and scenarios live on the program page.
Related reading: Can You Buy a Home on Savings While Your Business Is Still Ramping Up? · Can a Pennsylvania Snowbird Buy a Winter Home on Savings Alone? · Can a Michigan Snowbird Buy a Winter Home on Savings Alone?
Guides: Asset-Based Mortgage in Georgia
Brandon Miller
Founder & CEO, Mortgage Loan Originator, Lendmire LLC
- Mortgage Loan Originator · NMLS# 1129696 · Verify on NMLS Consumer Access
- North Carolina Real Estate Broker · License# 343312 · Verify on NCREC
- North Carolina Insurance Producer · License# 19053198 · Property, Casualty, Life, Health · Verify on NAIC SBS
- Lendmire LLC · Firm NMLS# 2371349 · Verify firm licensure
Disclosures. The information presented in this article is general market commentary, not financial, legal, or tax advice. Lendmire is a mortgage brokerage (NMLS# 2371349) — not a direct lender or depository institution — and loan placement is subject to lender underwriting. Nothing in this content represents a commitment to lend. Loan terms, pricing, and program availability vary based on borrower qualifications, property characteristics, and state of subject property, and are subject to change at any time. Lendmire complies with Equal Housing Opportunity requirements. Consumer access: nmlsconsumeraccess.org.