How To Obtain A Conventional Home Loan – If You Have Assets But Not Income

Assets As Income

If you want to obtain a conventional home loan, but have limited or no income, but do have a large amount of assets, you may be able to qualify via an asset depletion loan.

This program makes sense for someone who may be retired and living off a small pension or social security or other benefit, but that has a large sum of assets. Here is how it works.

Through the asset depletion program, you can use 70% of the balance of an asset, divide that number by 360 and use the end result may be used as a monthly income.

The other stipulations to the program are:

  • It only applies to the purchase or rate and term refinance of a primary home or second home
  • The program requires either a 30% down payment on a purchase or 30% equity on a refinance

If you fit the above guidelines and have not been able to obtain a home loan, due to lack of income, this program may be a good option.

For example, if someone who is of retirement age or on a fixed income and cannot qualify for a home loan, based on that income alone, but has a large some of assets in a retirement or investment account. They can use those assets, through this program as qualifying income.

This is another tool that is rarely discussed, but is an option to help someone qualify to purchase a home or refinance an existing home loan.

As always everyone’s individual situation is unique and it is always best to speak with a licensed lender, such as Strategic Mortgage and explore all available home loan options, for your specific situation.

For more information on  current home loan programs and options for existing and potential home owners, please contact Bill Kamboukos of Strategic Mortgage at (480) 703-5844 or by emailing: or online at 

Strategic Mortgage, LLC – NMLS#158804- Equal Housing Lender – AZBK#0909514

Vasilios Bill Kamboukos Jr – NMLS#160440

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