Asset Depletion Mortgage

NASB’s Asset Depletion Mortgage (also called an asset dissipation loan) is a Non‑QM home loan that allows you to qualify based on eligible assets rather than employment income. Generally, asset depletion loans convert verifiable liquid assets into a monthly qualifying income figure for underwriting.

NASB’s Asset Depletion Mortgage is designed for borrowers with substantial assets—such as retirees, high‑net‑worth individuals, and self‑employed borrowers with limited verifiable income. This option typically works best when assets can cover the monthly payment even if taxable income is low.

NASB calculates asset depletion by verifying eligible funds and dividing the qualifying balance by 84 months to determine a monthly income figure for underwriting. Generally, asset depletion programs divide eligible assets over a set number of months to create an income-equivalent used for qualification.

NASB can consider cash-like assets, such as checking, savings, and money market accounts, as qualifying assets when they are documented and eligible. Generally, cash accounts are among the most straightforward assets to use because they are liquid and stable.

NASB can consider asset depletion alongside other qualifying income sources to strengthen the application. Generally, combining income sources can improve DTI and provide additional underwriting support.

NASB typically uses 70% of the value of stocks, stock options, and mutual funds when determining qualifying assets. Lenders generally apply a haircut to market-based assets to account for volatility.

NASB generally requires a minimum credit score of 700 for its Asset Depletion Loan program. Stronger credit profiles can improve pricing and available terms.

The NASB Asset Depletion Loan typically requires at least 20% down payment, depending on credit profile and overall file strength. Generally, Non‑QM loans require larger down payments than conventional mortgages to manage risk.

NASB requires a minimum loan amount of $175,000 for Asset Depletion Mortgages, with exceptions for specific properties in the Greater Kansas City metro area and surrounding areas. In general, many Non‑QM programs set minimums to align with portfolio guidelines and operational costs.

The NASB Asset Depletion Mortgage allows qualified borrowers to borrow up to $1,000,000, subject to underwriting and eligibility. Generally, maximum loan amounts vary by program, credit profile, and collateral risk.

NASB typically requires asset statements, standard identification, credit documentation, and property/transaction documents to approve an Asset Depletion Mortgage. The exact documentation varies by loan purpose, property type, and the assets used.