Get the loan you need from the assets you own.
An asset depletion mortgage, also known as an asset dissipation mortgage, is a type of non-QM loan that allows borrowers to use their substantial assets to qualify for a mortgage loan instead of employment income. Your assets are used as collateral for paying back the loan instead of your income. Different forms of assets that can be used include money market accounts, checking or savings accounts, certificates of deposits, retirement accounts (such as 401K or IRA) or investment accounts such as stocks, bonds, and mutual funds. Borrowers that can benefit from an asset depletion mortgage include those that are self-employed with insufficient traditional, verifiable income, retirees with insufficient verifiable fixed income or individuals with a large number of assets in the U.S.