Non-QM financing that turns liquid net worth into qualifying income — built for Indiana retirees and high-net-worth buyers when pay stubs and tax returns do not tell the full story.
Instead of proving income with W-2s, pay stubs, or two years of tax returns, asset depletion underwriting asks a different question: what monthly income can your liquid net worth support over the life of the loan?
Lenders identify eligible cash, brokerage, and retirement accounts, apply program haircuts to reflect liquidity and market risk, subtract required reserves and down payment, then divide the usable balance by the loan term in months. That figure becomes monthly qualifying income for DTI — without requiring you to sell everything at closing.
Ryan & Steve match your file to the right Non-QM investor — some programs count retirement at 70%, others weight brokerage differently, and reserve rules vary by loan size and occupancy.
Guidelines vary by investor, credit, and loan amount. This overview is educational — your file is reviewed against current product rules.
See how asset-based underwriting compares to traditional employment income and agency qualifying paths.
| Feature | Asset Depletion Non-QM | W-2 Conventional | Retirement Income Conventional |
|---|---|---|---|
| Primary qualifier | Liquid net worth ÷ loan term | W-2 + tax returns | Pension, SS, distributions |
| Employment | Usually not required | Typically required | Retired OK with documented income |
| Best fit | Retirees, HNW, low reported income | Salaried employees | Steady retirement cash flow |
| Income docs | Account statements + asset list | Pay stubs, W-2, VOE | Award letters, 1099-R, SS statements |
Asset depletion financing shines when your portfolio tells a stronger story than your tax return or paycheck.
Related asset depletion guides and Non-QM resources from Ryan & Steve.
Credit, down payment, reserves, and liquid asset size that typically fit Non-QM asset depletion programs.
Eligible assets, haircuts, divide-by-term math, and monthly DTI income explained step by step.
Cash, brokerage, retirement at reduced percentages — and common exclusions.
Full program hub, eligibility snapshot, and how we structure retiree and HNW files.
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An asset depletion loan is a Non-QM mortgage that converts eligible liquid net worth into monthly qualifying income for DTI. Instead of W-2 pay stubs or tax-return AGI, lenders apply a haircut to your portfolio, divide the usable balance by the loan term, and treat the result as income.
Conventional underwriting relies on W-2s, pay stubs, and two years of tax returns. Asset depletion Non-QM programs qualify on liquid assets — a better fit when you have strong net worth but low reported income, no current employment, or retirement distributions that do not meet agency DTI rules.
Retirees, high-net-worth buyers, and borrowers with substantial liquid assets but minimal W-2 or self-employment income. Primary, second home, and investment occupancy are often possible — guidelines vary by investor.
No — asset depletion is an income calculation method, not a requirement to liquidate your portfolio at closing. Lenders document eligible accounts and apply program haircuts; you typically keep assets invested while using the calculated monthly income for DTI.
Ryan & Steve will review your portfolio and credit profile against current asset depletion guidelines before you apply.
Ryan Minick and Steve DeLon — Branch Managers & Senior Loan Officers at Luminate Bank. Based in Kokomo, Indiana. Lending nationwide since 2005.
Contact
Ryan Minick NMLS# 203249
Steve DeLon NMLS# 202876
Luminate Bank NMLS# 1281698
Kokomo's Mortgage Team. Lending Nationwide.
1221 Appletree Lane, Kokomo, IN 46902
Luminate Bank NMLS 1281698 Bank Headquarters 2523 S. Wayzata Blvd., Suite 100 Minneapolis, MN 55405 (952) 939-7200. This is not an offer to enter into an agreement. Information provided is outlining the minimum down payment requirements as allowed by specific loan program and product guidelines and any information, rates and programs are subject to change without prior notice and may not be available in all states. All loans are subject to credit and property approval. Luminate Bank is not affiliated with any government agency. All rights reserved.
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