In today’s lending environment, many qualified borrowers get turned away simply because they can’t show traditional income on paper. As a broker, you’ve likely encountered clients who have strong financial positions (significant savings, investment accounts, or retirement funds) but don’t meet standard documentation requirements.
At Dominion Financial Wholesale, we offer a powerful solution: Asset Depletion Loans, designed to help you close more deals by qualifying your clients based on their liquid assets instead of their income.
What Is Asset Depletion?
Rather than relying on employment income, asset depletion lets your clients qualify by dividing their verified liquid assets over 60 months to create an “income” figure for underwriting.
For example, a borrower with $300,000 in qualified assets can count $5,000 per month toward qualifying income. This approach is ideal for:
– Retirees with substantial reserves
– High-net-worth individuals between jobs or careers
– Self-employed clients who minimize taxable income
Key Program Features
Our asset depletion offering is built with flexibility and borrower diversity in mind. Here’s what brokers should know:
– Up to 90% LTV on purchases
– Up to 80% LTV on cash-out refinances
– Available for primary residences, second homes, and investment properties
– Minimum FICO of 660
– Assets must be seasoned for at least three months
Clients can qualify using assets alone or in combination with full documentation, bank statements, 1099s, or WVOE – whichever approach strengthens their profile.
Eligible Assets
Assets used for qualification must be liquid and verifiable. These include:
– Cash in checking or savings accounts
– Stocks, bonds, and mutual funds
– Money market accounts
– Vested amounts in retirement accounts
The total of these assets is divided over 60 months to determine monthly qualifying income.
Why This Matters for Brokers
Asset Depletion Loans give you the ability to serve a broader range of clients, especially those underserved by traditional guidelines. By expanding your qualifying criteria, you gain a valuable competitive edge and the tools to deliver real solutions to high-potential borrowers.
This program is especially effective in today’s market, where many well-qualified buyers or investors are looking for creative, responsible ways to finance property.
Let’s Close More Together
At Dominion Financial Wholesale, we specialize in helping brokers succeed with alternative lending solutions that don’t sacrifice reliability or service. Our Asset Depletion Loan is another way we back your business and your borrowers.
Want to run a scenario or see if your borrower qualifies? Contact us or log in to the Broker Portal to get started.
