Can I Get a Mortgage With Savings and Investments but No Job Income?
Money in the bank is real. Here is how lenders can count it as income when you have no pay stub.
Imagine you have built real wealth. A healthy savings account, a brokerage portfolio, maybe a retirement account you have been growing for decades. Then you apply for a mortgage and the first question is, “Where is your paycheck?”
There is none. You sold a business, you retired early, you took a career break, or your income arrives in ways a pay stub cannot capture. You are not broke. You are asset-rich and income-poor on paper, and a standard mortgage treats that like a problem.
It is not a dead end. There is a loan built for exactly this picture, and it counts the money you already have. Let me show you how it works and how to estimate your own number.
Can I get a mortgage with no job if I have savings and investments?
- Yes, through asset depletion or asset utilization programs.
- The lender converts eligible assets into a monthly qualifying income.
- These are usually non-QM loans, so expect a higher rate and a bigger down payment than conventional.
What is an asset depletion loan? It is a mortgage that qualifies you on what you own instead of what you earn. The lender looks at your liquid assets, subtracts what you need for the purchase, and spreads the rest across a set number of months to create a qualifying income.
The benefit is obvious: you can buy with no pay stub. The feature that makes it work is a lender willing to treat your balance sheet as proof of repayment ability.
| Feature | What it means for you |
|---|---|
| Income comes from assets | No pay stubs or tax returns needed |
| Cash and savings usually count in full | Your simplest dollars carry the most weight |
| Other assets are discounted | Stocks, retirement, and crypto count for less |
| Larger reserves required | You keep a cushion after closing |
How do lenders calculate income from my assets?
- Eligible assets minus down payment, closing costs, and reserves.
- Divide the result over a set number of months, such as 60 on many non-QM programs.
- A longer divisor gives a lower income, so the program you choose matters.
Here is the recipe. Start with your eligible assets, apply each lender’s credit for each type of asset, subtract the cash you will use for the down payment, closing costs, and required reserves, and divide what remains by the program’s divisor.
Say you have $650,000 left after those subtractions and the program divides over 60 months. That is roughly $10,800 per month of qualifying income. Over a much longer period the same assets would produce far less, which is why the program you pick changes the answer so much. The calculator below lets you test your own mix and divisor.
Asset Depletion Income Estimator
An educational estimate, not an approval. Credit given per asset and the divisor vary by lender, so adjust the fields.
Which assets count, and which do not?
- Cash and savings usually count at full value.
- Stocks, bonds, retirement accounts, and crypto are often counted at a discount.
- Business accounts, home equity, and private stock generally do not count.
Not every dollar is equal in a lender’s eyes. Cash is king. Publicly traded investments are usually counted at a reduced value because prices move. Retirement accounts can count if you can reach the money without penalty, which usually means at or near age 59 and a half. Crypto, where allowed, is often counted at roughly half.
What does not count: money that belongs to a business, equity in your home, and holdings the lender cannot easily turn into cash. If you want a deeper look at retirement-age borrowers, see my retirement mortgage guide.
- Benefit: your savings become usable income. Feature behind it: a depletion formula.
- Benefit: no need to sell investments or drain retirement accounts. Feature behind it: assets stay in place as qualifying proof.
Wondering what your assets could qualify you for?
Send me a rough list of your accounts. I will tell you how a lender would count each one.
Start My Scenario ReviewBook a Free CallYour Asset-Based Loan Readiness Checklist
- Document each account you want counted.
- Know which assets will not count.
- Plan for a larger down payment and reserves.
Document Checklist
Tap each item as you gather it.
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Frequently Asked Questions
Can I get a mortgage with no job if I have savings and investments?
Yes, with the right program. Asset depletion and asset utilization loans convert your liquid assets into a monthly qualifying income, so you can qualify without pay stubs or tax returns. They usually reward strong credit and substantial assets.
What is an asset depletion mortgage?
An asset depletion mortgage is a loan that calculates qualifying income from your assets instead of employment income. The lender takes eligible assets left after your down payment, closing costs, and reserves, then divides that figure over a set number of months.
How is income calculated from assets?
A common formula is eligible assets, minus down payment, closing costs, and required reserves, divided by a set number of months, such as 60 on some non-QM programs. Some conventional approaches divide over a much longer period, which produces a lower income figure.
Which assets count toward asset depletion?
Checking and savings are usually counted in full. Stocks, bonds, and mutual funds are often counted at a discount, retirement accounts are counted if you can access them without penalty, and crypto, where allowed, is often counted at roughly half. Business accounts, home equity, and private stock generally do not count.
Can I use my retirement account for asset depletion?
Often yes, if it is vested and you can withdraw without penalty, which usually means being at or near age 59 and a half. Lenders typically want recent statements and may apply a haircut to the balance.
Does crypto count as an asset?
Some programs count crypto at a reduced value, often around half, and may limit which coins or ETFs qualify. Programs vary, so ask before you plan around it.
Who is asset depletion best for?
Retirees, high-net-worth buyers whose taxable income understates their wealth, self-employed owners with heavy write-offs, and borrowers paid in stock or irregular income. If your tax returns or pay stubs qualify you cleanly, conventional is usually cheaper.
What credit score and down payment do I need?
Requirements vary by lender. Many asset-based programs look for strong credit, often in the 700s, and a larger down payment, commonly 15 to 25 percent, along with several months of reserves. Your broker can check current guidelines for your profile.
Is the rate higher than a conventional loan?
Often yes, because these are non-QM loans. If you can qualify conventionally, compare it first.
You have built something real. Let a lender see it.
No pay stub does not mean no path. Let’s look at what your assets can do for you, with no pressure and no jargon.
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