A place to begin
Asset depletion, sometimes called asset utilization, is a way some lenders assess mortgage qualification using eligible assets. It may be useful if your savings or investments are substantial but your regular income does not tell the full story.
How the review works
The lender identifies which assets qualify, applies the program’s adjustments and calculates an amount that can support qualification. Account ownership, access to funds and the type of assets matter. Conventional and alternative lending programs have different rules.
Bring the full picture
Start with recent bank, investment and retirement account statements, along with your financing goal. We also review funds needed for the down payment, closing costs and reserves, plus any other income and debts.
Consider the tradeoffs
A large account balance is not automatically qualifying income. Money needed for closing or reserves may reduce the assets available for the calculation. Compare loan costs and monthly payments with the liquidity you want to retain.
A collaborative review
We review your accounts and financing goals, then compare the available ways to document qualification. The calculation depends on the lender and program. An initial conversation helps identify what is worth exploring before you make changes to your investments.
Do I have to sell my investments?
That depends on the program and the funds needed to complete the transaction. We review access to your assets and lender requirements before you make plans to sell or withdraw funds.
Does the inquiry tell me my approved loan amount?
No. The inquiry starts a review of your situation. A borrowing amount requires an assessment of your assets, debts, property and applicable lender requirements. It is not an approval or rate lock.
Programs, terms and eligibility are subject to change. No approval, rate, savings or availability is guaranteed.