The Quick Read: It depends on the path, because no single asset number applies to every athlete. On the asset qualifier path, eligible assets must cover the entire loan amount, and no income is documented. On the asset depletion path, usable assets are divided by 60 months to create qualifying income. Both are available through select programs, subject to underwriting.
- Asset qualifier path: counted assets must equal or exceed the whole loan, with up to 80% loan-to-value on a purchase and 75% on a refinance (principal residence or second home).
- Asset depletion path: usable assets divided by 60 months become monthly income, which then runs through the debt-to-income test.
- Contract size is not the test: what counts is money sitting in documented, seasoned accounts, not what a contract says you will earn.
- Rentals are different: a rental purchase is usually underwritten on the property’s rent, not on your assets or your contract.
What Do You Actually Need to Qualify?
You need liquid, documented, seasoned money. That is the straight answer. A big contract does not count until it becomes cash in an account.
Across Lendmire’s wholesale network, there are two asset-based ways to buy a home. Each is a separate path, and you qualify on one at a time. Never mix the two.
The first is the asset qualifier path. Your eligible assets, after the percentages below, must equal or exceed the entire loan. The lender does not document your job or income on this path. The second is the asset depletion path. Your assets are trimmed by a haircut, divided by 60 months, and treated as monthly income. That income must carry the full housing payment and your other debts.
Both paths are consumer mortgages for principal residences and second homes. The depletion path also allows investment property, at lower leverage. Everything here is a ceiling or a floor, not an offer, and every file is underwritten individually.
Lendmire is a broker. It arranges these loans through select lenders in its network. Its consumer mortgage lending is licensed in 16 states, so availability depends on where the home sits.
Key Terms Defined
Asset qualifier path: a program that approves the loan on eligible assets alone, with no employment or income documented.
Asset depletion path: a program that converts usable assets into a monthly qualifying income by dividing them over 60 months.
Haircut: the share of an account’s balance a lender refuses to count, because the account can lose value or carry restrictions.
Seasoning: the time money has sat in your account, so the lender knows it is yours and not a recent loan.
Debt-to-income ratio (DTI): your monthly debts, including the new housing payment, divided by your monthly income.
Reserves: money left over after closing, held as a cushion for the payments.
How Much Does a Professional Athlete Need in Assets to Qualify on the Qualifier Path?
On this path the rule is simple: counted assets must equal or exceed the whole loan. A $2 million loan needs at least $2 million of counted assets. Loans run up to $4,000,000, subject to underwriting.
Different accounts count at different percentages. Here is how they stack up on the asset qualifier path.
| Asset | 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, 59½ or older | 100% |
Accounts combine. Here is an illustrative example, since the lender’s own calculation always governs. Say an athlete wants an $800,000 loan on a primary residence. He holds $330,000 in brokerage accounts (100% counts, so $330,000), $300,000 in a 401(k) while under 59½ (90% counts, so $270,000), and $200,000 in savings (100% counts, so $200,000). Together that is $800,000 of usable assets. He is reviewed on assets alone, subject to underwriting.
Leverage tops out at 80% loan-to-value on a purchase and 75% on a refinance, for a principal residence or second home. Cash-out terms on this path are set by the lender and are not published, so assume nothing there.
Credit still matters. The published floor is a 600 score. Housing history is reviewed too, and one 30-day late in the last twelve months is considered case by case.
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.
What If Your Assets Are Large but Your Documented Income Is Not?
Then the depletion path may fit. It does not ask whether assets cover the whole loan. It asks whether assets, converted into income, can carry the payment.
The haircuts are steeper here than on the qualifier path.
| Asset | Share that counts |
|---|---|
| Cash accounts | 100% |
| Certificates of deposit | 100% |
| Securities | 80% |
| Retirement accounts (any age) | 70% |
| Real-estate equity | 60% |
Privately held stock is not eligible on either path.
Run the math on an illustrative case. An athlete holds $1,500,000 in securities, which counts at 80% for $1,200,000. He also holds $300,000 in cash, which counts at 100% for $300,000. That is $1,500,000 usable. Divided by 60 months, it produces $25,000 of monthly qualifying income. That income then has to carry the housing payment and other debts through the debt-to-income test.
It is a paper calculation. You do not sell anything.
Leverage depends on the property:
- Principal residence or second home: up to 80% on a purchase or rate-and-term refinance, and 60% on a cash-out refinance.
- Investment property: up to 65% on a purchase or rate-and-term refinance, and 60% on a cash-out.
Cash-out proceeds never count as qualifying assets. Loans run from $125,000 to $3,500,000.
There are minimums. Qualified assets must be at least the lesser of $1,000,000 or 1.25 times the loan balance. When assets are your only income source, you also need at least $250,000 liquid. If you use asset income to supplement documented income, DTI can reach 45%, and the minimum-assets rule is waived.
Credit follows the lender’s score and loan-amount matrix. A first-time investor on this path needs a 700 score. A housing event needs 4 years of seasoning. Multiple bankruptcies are not eligible.
Statements must be at least 120 days old at application, plus the most recent statement within 45 days. Sale-of-business, inheritance and legal-settlement funds are excused from that seasoning. Assets are documented on both paths. “No income documentation” never means “no documentation.”
The lender reviews who owns the account and whether you can reach the funds. Only your own ownership share of a business account counts. Trust accounts are not listed as eligible on either path. If a trust holds the money, ask early whether it can be moved into an account in your own name, and give it time to season.
Which Path Fits Which Athlete?
Pick the path by looking at your balance sheet first, not your contract.
| Your situation | Likely fit | Trade-off |
|---|---|---|
| Counted assets cover the whole loan | Asset qualifier | Needs assets equal to the loan |
| Large portfolio, but counted assets fall short of the loan | Asset depletion | DTI test applies; converted income must carry the payment |
| Some documented income, plus assets | Depletion as a supplement | Up to 45% DTI; minimum-assets rule waived |
| Income runs through deposits | Bank statement program | Different documentation; separate program |
| Buying a rental | DSCR | Property rent drives the file |
The bank statement program is for borrowers who document income with deposits. It suits athletes whose money lands in business accounts. It does not use your assets the way the two paths above do.
Look at the qualifier path first if you are buying with a lot of cash. It carries no DTI test, so converted income never enters the file. Purchase leverage tops out at 80% on both paths for a principal residence or second home. The depletion path fits when your counted assets fall short of the whole loan, because the converted income can carry the payment through the DTI test instead.
Where Athletes Get Surprised
Paper wealth is not qualifying wealth. This is the most common shock. A contract, an equity package or a promised bonus can be worth millions, and still show almost nothing countable.
Signing bonuses. A bonus counts once it is deposited in a verifiable account. Before that, it is a promise. Plan for the 60-day seasoning on the qualifier path, and for the statement-age rules on the depletion path. A fresh deposit may need a written source. Tax treatment varies; consult a qualified professional.
Money the team still owes you. Deferred compensation is not eligible on the depletion path. Neither are stock options or non-vested restricted stock units. Contract money that has not been paid does not count, even when the team is obligated to pay it.
Entity money. Endorsement income often sits inside a company. Only the borrower’s ownership share of a business account is considered, and the lender reviews the source. Athletes who also hold company shares should read Lendmire’s piece How Much Does a Startup Founder Need in Assets to Qualify for a Mortgage?. Privately held stock is not eligible on either path, so the route there is documented liquid assets, such as seasoned cash from a sale or buyout.
Crypto, metals and collectibles. Neither path publishes these as eligible. The documented route is to convert them to cash in a regulated account and let the money season. The lender reviews where it came from. Pledged or borrowed funds do not count either.
Foreign funds and cash on hand. Neither is eligible on the depletion path. Move money into a regulated U.S. account and let it season.
Short earning windows. Careers are often just a few years. Statista’s widely cited NFL average is about 3.3 years, though career-length averages are debated. That is why asset-based files are useful. They do not lean on income you may not have in five years.
Think about how much liquidity you really have after you buy. A 401(k) counts, but at a haircut, and it is the money you may need in your forties. Qualifying on assets is not the same as being comfortable.
Why Can Lenders Review Your File on Assets at All?
The federal ability-to-repay rule asks lenders to make a reasonable, good-faith check that you can repay. The CFPB’s compliance guide lists eight factors, including verification of the income or assets the lender relies on. It does not mandate one underwriting model.
The NCUA’s supervisory letter adds that lenders may consider current or reasonably expected income or assets, verified with reliable third-party records. Assets verified by statements fit that framework. That is why each lender sets its own thresholds, and why they differ.
What About Rental Properties?
This is where many athletes should pivot. DSCR loans are designed for non-owner-occupied investment properties. Because they are business-purpose investor loans, they are reviewed differently from a standard owner-occupied mortgage.
A DSCR file qualifies primarily on property-level rental income covering the payment, subject to lender guidelines. Your contract, your traditional personal-income documentation and your signing bonus are mostly beside the point. Credit, reserves, down payment and experience still matter, and you still document your assets. Qualification is never automatic.
DSCR coverage is generally monthly rent divided by the full monthly obligation. Definitions vary by lender. Programs below 1.00 coverage are available through select lenders in the network, but leverage and terms adjust.
Compare that with the depletion path on an investment property, which caps at 65% on a purchase or rate-and-term refinance and 60% on a cash-out. Because DSCR leans on the property’s rent and not your converted asset income, it often scales better for athletes adding rentals.
One caution. Contract-secured loans exist, but they are a separate private product. They are not DSCR financing and not a mortgage.
Who May Not Fit?
Be honest with yourself before you apply. These profiles tend to struggle:
- Mostly paper wealth. If your net worth is unvested equity and unpaid deferred pay, little may count.
- Thin credit. A score below the lender’s matrix, or a recent housing event, can end the file.
- Money that has not seasoned. A bonus that landed last week may not meet the statement rules.
- Borrowed funds. Pledged or borrowed money does not count.
- A loan above the program range. The qualifier path stops at $4,000,000, and the depletion path at $3,500,000.
- Assets in the wrong place. Foreign funds and custodial accounts are not eligible on the depletion path.
Many athletes also find that a large purchase lands in jumbo territory. That is a loan-size question, not an earnings question, and conforming limits depend on the county. Agency programs set their own rules, and those rules are not this program’s.
What Documents Should You Gather?
Start with the documents that prove the money is yours and has been yours.
- Statements: two months for each qualifying account on the qualifier path. On the depletion path, statements at least 120 days old, plus the most recent within 45 days.
- Source of funds: a written explanation for large deposits, such as a signing bonus.
- Identity and credit: government ID and a credit review.
- Property documents: the contract, plus the lease or rent analysis on a rental.
- Entity documents: if funds sit in a business or the loan closes in an LLC, entity documents may be requested, subject to lender program eligibility.
Every file is underwritten individually. Programs change.
Frequently Asked Questions
Can a rookie qualify on assets?
Yes, if the money is already in documented accounts and has seasoned. Work history does not drive the asset qualifier path, because no employment is documented there. A rookie with a bonus still sitting in escrow or unpaid has nothing to count yet. Credit and leverage rules still apply, subject to underwriting.
Do retirement funds count?
Yes, at a discount. On the asset qualifier path, 401(k) and IRA balances count at 90% under age 59½ and 100% at 59½ or older. On the asset depletion path, retirement accounts count at 70% at any age. You do not have to withdraw the money, subject to underwriting.
Does contract money count before it is paid?
No. Unpaid or deferred contract money is not an asset until it sits in a documented account. Deferred compensation, stock options and non-vested restricted stock units are not eligible on the depletion path. Once a payment is deposited and seasoned, it counts like any other cash.
Can I qualify with no income?
On the asset qualifier path, no employment or income is documented, and the review rests on your assets. That does not mean no documentation. Statements, credit and the source of funds are all reviewed. Approval is never promised.
Do assets work for a rental?
Only on the depletion path, and at lower leverage: up to 65% on an investment-property purchase or rate-and-term refinance, and 60% on a cash-out. The qualifier path covers principal residences and second homes. Most rental purchases move to DSCR, which looks at the property’s rent.
Next Step
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.
For current guidelines and terms, see Lendmire’s asset-based mortgage programs page.
Careers are short and balances are lumpy, so the athletes who plan around seasoned, documented cash tend to have the most options when they are ready to buy.
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. Statista: NFL career length
2. CFPB ATR/QM Compliance Guide
3. NCUA Supervisory Letter 14-01
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 Tennessee Widow Qualify for a Mortgage on Life Insurance and Retirement Assets? · Can an Ohio Buyer Qualify for a Mortgage on IRA Assets Without Withdrawals? · How Much Does a Pennsylvania Retiree Need in Assets to Buy a Home Without Income?
Brandon Miller
Founder & CEO, Mortgage Loan Originator, Lendmire LLC
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Legal disclosures. Lendmire (NMLS# 2371349) is a state-licensed mortgage brokerage that arranges financing through wholesale lender relationships. Lendmire is not a direct lender, depository institution, or registered financial advisor. The discussion above is general informational content about real estate financing — it is not financial, legal, or tax advice, and readers should consult licensed professionals for guidance on their individual circumstances. Loan inquiries are subject to lender underwriting; this article does not represent a commitment to lend. Loan terms, rates, and qualification standards vary by borrower, property, and state, and are subject to change at any time. Equal Housing Opportunity. NMLS Consumer Access: nmlsconsumeraccess.org.