Asset Depletion Mortgage: Qualify With Your Savings, Not a Paycheck
By Travis Penny, mortgage broker ·
Last updated October 14, 2026
If you want the program details in one place, start with my asset depletion loans page. Here's how it works and who it fits.
How does an asset based mortgage work?
The lender takes your eligible balances and spreads them over a set number of months to create a monthly income figure. Asset based, asset depletion and asset utilization are names for the same idea.
Who is it for?
Retirees, people who sold a business, people living off investments, and anyone whose tax returns don't show what they can really afford.
Which accounts count?
Checking, savings, brokerage and retirement accounts can all be eligible depending on the program. Each one has its own rules on how much of each account counts, so I go through your statements with you.
Is it a reverse mortgage?
No. It's a normal mortgage with a normal monthly payment. Your assets are counted to qualify you, not spent.
Where to go from here
My asset depletion loans page has the full rundown, and the qualify quiz tells you in two minutes if it's worth a call.
FAQ
Can I get a mortgage with no income but a lot of assets?
Yes, with an asset depletion mortgage in Maine or Florida. Not everyone will qualify.
What is an asset utilization loan?
Another name for an asset depletion or asset based mortgage.
Do I have to spend my assets?
No. They're used to show you can pay.
Can retirees use asset depletion?
Yes. It's one of the most common reasons people use it.
Ready for the next step? Take my 2 minute qualify quiz, send me your scenario through the contact form, or apply now. You can also text me at (207) 615-7770 or email Travis@travis.mortgage.
Travis Penny