The Quick Read: Yes, when the balances are large enough: through select programs, either your eligible assets cover the whole loan outright, or they are converted into monthly qualifying income, and the lender documents it all with account statements instead of traditional personal-income documentation, pay stubs or employment verification, subject to underwriting.
- Assets cover the loan: on the asset qualifier path, eligible balances must equal or exceed the entire loan amount.
- Assets become income: on the asset depletion path, usable assets divided by 60 months become qualifying income.
- Not no-doc: every file is fully underwritten, and the assets are proven with statements.
- Your accounts stay invested: the lender verifies them. You do not liquidate them to qualify.
Which Path Fits a Retiree?
Pick the path by asking one question: are your balances large enough to cover the whole loan, or do you need them to act like a paycheck? Lendmire is a broker. It arranges these loans through select lenders in its wholesale network, and Ohio is one of the states where its consumer mortgage lending is licensed.
The asset qualifier path drives lender review on assets alone. Eligible assets, after the credit percentages below, must equal or exceed the entire loan amount. No employment or income is documented.
The asset depletion path turns assets into a monthly qualifying income. The lender takes your usable assets and divides them by 60 months. That income must then carry the housing payment and your other debts through a debt-to-income test.
A borrower is qualified on one path at a time. Never blend them. Across the wholesale network Lendmire places files with, the choice usually comes down to the loan size relative to your balances. Retirees who could nearly pay cash often fit the first path. Retirees with a big portfolio and a larger loan often fit the second.
| Factor | Asset qualifier path | Asset depletion path |
|---|---|---|
| How you qualify | Assets cover the whole loan | Assets become monthly income |
| Income documented | None | Derived from assets |
| Loan amounts | Up to $4,000,000 | $125,000 to $3,500,000 |
| Credit | 600 minimum | The lender’s matrix |
| Statements | Two months per account | One 45 days old or newer, plus older ones (120+ days) |
How Assets Are Counted
Lenders do not give every account full credit. Each asset type gets a percentage of its balance, and what remains is your usable total. The two paths use different percentages, so read each column on its own.
| Asset | Qualifier path | Depletion path |
|---|---|---|
| Savings, money market, cash | 100% | Cash accounts 100% |
| Certificates of deposit | 100% | 100% |
| Brokerage accounts, securities | 100% | Securities 80% |
| Retirement accounts | 90% under 59½, 100% at 59½ or older | 70% at any age |
| Private stock | Not listed | 75% |
| Real-estate equity | Not listed | 60% |
Accounts combine on both paths. These figures apply through select programs, and the lender’s own calculation governs.
Some assets do not count on the depletion path at all: 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.
What about cryptocurrency, precious metals or collectibles? Neither path publishes them as eligible. The documented route is to convert them into a seasoned cash balance in a regulated account, with the lender reviewing the source. Pledged or borrowed funds don’t count either.
Path One: Assets Cover the Whole Loan
The qualifier path is the cleanest fit for a retiree with deep liquid balances. Leverage runs up to 80% on a purchase and 75% on a refinance, for a principal residence or second home. The lender sets whether cash-out proceeds are allowed on this path. Don’t assume they are.
Seasoning is simple: 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.
Here is an illustration. Say you want an $800,000 loan and hold $330,000 in brokerage accounts, $300,000 in a 401(k) and $200,000 in savings. You are under 59½. The brokerage counts at 100%, which is $330,000. The 401(k) counts at 90%, which is $270,000. The savings count at 100%, which is $200,000. Together that is $800,000 of usable assets, equal to the loan, so the file is reviewed on assets alone, subject to underwriting.
Change one thing and the picture shifts. At 59½ or older, the same 401(k) counts at 100%. That is $30,000 more credit. Age matters here, and it is easy to miss.
Path Two: Assets Become Income
The depletion path suits a retiree whose portfolio is big but whose loan is bigger than the balances. On a principal residence or second home, leverage runs up to 80% on a purchase or rate-and-term refinance and 60% on a cash-out refinance. Cash-out proceeds never count as qualifying assets.
Run the numbers on a hypothetical portfolio: $1,500,000 in securities and $300,000 in cash. The securities count at 80%, which is $1,200,000. The cash counts at 100%, which is $300,000. Usable assets total $1,500,000. Divide by 60 months and you get $25,000 of monthly qualifying income. That figure then carries the housing payment and other debts through the debt-to-income test.
The minimums are real. 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 fall below $250,000.
Statements need to 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. Credit follows the lender’s matrix, and the housing history is 0x30x12. One 30-day late in the last twelve months is considered case by case. A housing event needs four years of seasoning on this path.
Savings Alone Versus Savings Plus Social Security
Reading “alone” literally, the depletion path can be your sole income. That is the strictest version, and it triggers the $250,000 liquid floor above.
Most retirees have something else, such as Social Security, a pension or annuity payments. That helps. Asset-derived income may supplement documented income, up to a 45% debt-to-income ratio. When it supplements, the minimum-assets rule is waived. A smaller portfolio can then work alongside a pension, where it would fall short as the only income source.
How This Differs From Agency Rules
Agency programs are narrower. Fannie Mae’s policy on employment-related assets as qualifying income covers principal residences and second homes only. It applies to purchases and limited cash-out refinances only, and never to investment properties. Many retirees with ordinary taxable brokerage balances find it does not fit.
That gap is why asset-based programs exist. They are not agency loans, so each program sets its own terms. Terms differ between lenders, which is where a broker earns the fee: the same portfolio can read differently depending on who reviews it.
Federal consumer rules still frame the home-loan side. A lender must make a reasonable repayment determination and verify the income or assets it relies on with third-party records. A borrower saying “I can pay” is not enough. A loan on your home is a consumer mortgage with the usual consumer disclosures.
What If the Property Is a Rental?
Buying a rental changes the product. A loan to buy a non-owner-occupied rental is generally treated as a business-purpose loan and reviewed differently from an owner-occupied mortgage. The exemption turns on occupancy, purpose and unit count, per Compliance Alliance’s summary. It isn’t automatic.
On the depletion path, an investment property runs up to 65% on a purchase or rate-and-term refinance and 60% on a cash-out refinance. A first-time investor needs a 700 score on that path. The same asset haircuts and 60-month divisor apply.
For a pure rental purchase, though, many investors skip this route. A DSCR loan is reviewed primarily on property-level rental income covering the payment, subject to lender guidelines. Your savings then do different work: down payment, closing costs and reserves. Retirement income isn’t the qualifying factor. Keep the two products apart. Asset depletion suits a home. DSCR suits a rental. Deals with sub-1.00 coverage can be available through select lenders, but leverage and terms adjust.
Borrow or Sell?
Selling investments to pay cash feels clean. It also ends the growth and can force you to realize gains. Borrowing keeps the portfolio invested, but it adds a payment and ties your housing to market values.
Picture a retiree with a large brokerage account who could pay cash for a downsized home. Paying cash leaves less liquidity for health costs or surprises. Borrowing preserves it, though a market drop after closing can leave the portfolio smaller while the payment stays the same. This one is a genuine judgment call. The answer depends on your cushion, your other income and how long you expect to live in the home.
Tax treatment varies; consult a qualified professional before choosing between selling and borrowing.
What Ohio Retirees Should Know
The program figures don’t change by state. An Ohio borrower sees the same percentages, seasoning rules and leverage ceilings as anyone else in a licensed state. Local factors are context: home prices across Ohio’s metros and smaller towns differ widely, and that changes how large a loan you need relative to your balances.
For the full program overview, see Lendmire’s asset-based mortgage program.
When This Is the Wrong Move
Skip it if the payment would force you to draw heavily on a shrinking portfolio. Skip it if most of your wealth is in assets that don’t count, such as crypto or collectibles you haven’t converted. Skip it if you can’t season the funds. And talk to a financial advisor first if the loan would be a large share of your net worth.
Credit still matters. Multiple bankruptcies are not eligible. Approval is never promised. Every file is underwritten individually.
Documents to Gather
Pull these together before you apply:
- Two months of statements for every account you plan to use (qualifier path).
- Statements at least 120 days old, plus a recent one within 45 days (depletion path).
- Proof of where large deposits came from. A sale, inheritance or settlement should be documented.
- A credit report and housing history.
- Property details and a purchase contract.
Stalled files usually come from large unexplained deposits or accounts with too little seasoning. Moving money between accounts right before you apply is a common cause.
Key Terms Defined
Asset qualifier path: A path where eligible assets, after credit percentages, must equal or exceed the whole loan.
Asset depletion path: A path where usable assets divided by 60 months become monthly qualifying income.
Haircut: The share of an account’s balance a lender does not count.
Seasoning: How long funds have sat in your account before the lender will count them.
Debt-to-income ratio: Your monthly debts divided by your monthly income, including derived income.
Non-QM: A loan that doesn’t follow the standard agency box, so each program sets its own terms.
Frequently Asked Questions
Can I get a mortgage with no income at all?
Yes, on the asset qualifier path, where no employment or income is documented and your assets cover the full loan. The file is still underwritten. Statements prove the assets, and credit and the property are reviewed, subject to lender guidelines.
Does my 401(k) or IRA count?
Yes, on both paths, at different percentages. On the qualifier path, retirement balances count at 90% under age 59½ and 100% at 59½ or older. On the depletion path, they count at 70% at any age.
Do I have to sell investments or withdraw money?
No. The lender verifies the balances with statements. You keep the accounts invested. The funds must stay available and seasoned through the process.
Can a lender turn me down for being retired?
Retirement alone is not the issue. Credit, the size of your assets, seasoning and the property decide the outcome. Every file is individually underwritten, and approval is never guaranteed.
Can I use this to downsize?
Yes, for a principal residence or second home, within the leverage ceilings above. Purchases run up to 80% on both paths for those occupancies. Your balances must still meet the path’s requirements.
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. Reach the team at 828-256-2183 or request a quote through the quote form.
Ohio retirees with large balances and little reportable income aren’t shut out of the mortgage market, but the right product depends on whether the property is a home or a rental.
About Lendmire
Lendmire, NMLS# 2371349, is a mortgage brokerage with consumer lending licenses in 16 states. Bank statement, P&L-only, 1099-only and asset-based mortgages are arranged through wholesale lending partners for borrowers whose traditional personal-income documentation understates their income, and each application is reviewed individually by the lender. Scotsman Guide named Lendmire a Top Mortgage Workplace in both 2025 and 2026.
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References
1. Fannie Mae Selling Guide B3-3.4-06
3. Compliance Alliance, Regulation Z and Investment Properties
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 a North Carolina Retiree Get a Mortgage on Savings and Investments Alone? · How Much Does a Retiree Need in Assets to Qualify for a Mortgage? · Can a Tennessee Snowbird Buy a Winter Home on Savings Alone?
Guides: Asset-Based Mortgage in Ohio
Brandon Miller
Founder & CEO, Mortgage Loan Originator, Lendmire LLC
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- North Carolina Insurance Producer · License# 19053198 · Property, Casualty, Life, Health · Verify on NAIC SBS
- Lendmire LLC · Firm NMLS# 2371349 · Verify firm licensure
Important disclosures. Lendmire (NMLS# 2371349) is a licensed mortgage brokerage. Lendmire is not a direct lender, depository institution, or financial advisor. All loan inquiries are subject to lender underwriting; this article does not constitute a commitment to lend. Rates, terms, and program guidelines are subject to change without notice and vary by borrower profile, property type, and state. Information in this article is general in nature and is not financial, legal, or tax advice. Equal Housing Opportunity. NMLS Consumer Access: nmlsconsumeraccess.org.