Asset Depletion Mortgages in Nashville
Can you qualify for a mortgage on assets instead of income? Yes. If you're retired, post-exit, or sitting on sale proceeds, your assets are your income.
An asset depletion loan — some lenders call it asset utilization — converts your liquid assets into a monthly qualifying income figure. A borrower with no job, no W-2, and no business income can be approved, because the program treats the money itself as the income source. Nothing is liquidated, moved, or pledged; your statements do the talking.
Here's the absurdity this program exists to fix. Someone sells a company, or retires with real savings, and walks into a bank with more liquidity than most branches see in a month — and gets told "insufficient income." They could buy the house in cash. The standard box doesn't have a field for that. I've watched people conclude from one of those conversations that homeownership is behind them. It isn't.
How the math works. The program takes your eligible liquid assets and spreads them across a set schedule to produce a monthly income figure, and the file is underwritten on that number like any other income. Checking, savings, money market, and brokerage accounts generally count in full; retirement accounts often count too, sometimes at a reduced weighting depending on the program and your age. Your money stays exactly where it is, still invested, still yours.
Who this fits. Retirees whose wealth is in accounts instead of paychecks. Founders and owners in the year or two after an exit — the stretch where the tax return says almost nothing and the bank balance says everything. Anyone living on a portfolio rather than a salary.
The honest trade. Pricing runs somewhat higher than a comparable conventional loan — that's the cost of the different measurement, and I'll walk you through the exact numbers for your scenario before you commit to anything. Underwriting happens in-house, so I can tell you early and honestly whether your file works instead of discovering the answer in week six.
Michael DiLucchio (NMLS #1638482) is a mortgage lender with Guild Mortgage in Nashville, Tennessee, specializing in bank statement, asset depletion, and P&L mortgage programs for self-employed borrowers, retirees, and post-exit business owners.
Can I qualify for a mortgage based on my assets instead of income?
Yes. Asset depletion converts your liquid assets into a monthly qualifying income figure, so a borrower with no employment income can still be approved.
Can I get a mortgage after selling my business, with no W-2?
Yes. Sale proceeds sitting in your accounts can be converted into qualifying income — this is the exact situation the program was built for.
Do I have to move, liquidate, or pledge my assets?
No. Your money stays in your accounts and stays invested. The program uses your statements to calculate an income figure; it doesn't take custody of anything.
Which assets count?
Checking, savings, money market, and brokerage accounts generally count. Retirement accounts often count too, sometimes at a reduced weighting depending on the program and your age.
Is this the same as a reverse mortgage?
No. It's a standard forward mortgage — you're buying or refinancing and making regular payments. Only the way income is calculated is different.
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