Your Savings Can Be Your Income
No job or paycheck needed. Here is every document an asset depletion loan asks for.
An asset depletion loan turns the money in your accounts into monthly income for the loan.
This asset depletion checklist is for retirees, people between jobs, and anyone with more savings than paychecks. The JD.Mortgage Team at PRMG is a direct lender. 25+ years, 3,100+ closed loans, Scotsman Guide Top Originator 2026. Lending in 49 states. New York excluded.
What Documents Do You Need for an Asset Depletion Loan? The Short Answer
You need a photo ID and statements for every account you want to use, showing the money has been there at least 6 months. We divide what is left after your down payment, closing costs and reserves by 84 months. You need at least $500,000 or 1.5 times the loan left over, whichever is less, and a 660 score.
Who Needs What, at a Glance
| Account type | How much counts |
|---|---|
| Checking, savings, money market | 100% |
| Stocks, bonds, mutual funds | 80% |
| Retirement accounts (vested) | 70% |
| Trust (you are the only beneficiary) | 100% |
| Business accounts | Not allowed |
Your Asset Depletion Checklist
Everyone
- ☐ Photo ID
- ☐ Statements for every account you want to count, all pages, showing the money has been there at least 6 months
- ☐ Your most recent statements, no more than 30 days old at closing
If it applies to you
- ☐ Trust documents, if the money is in a trust
- ☐ Divorce decree
- ☐ Child support or alimony orders
Want to know what your accounts are worth as income? Start the application and we will run the math.
Run My NumbersHow the Math Works
- Step 1: add up your accounts at the rates in the table above.
- Step 2: take out your down payment, closing costs and reserves.
- Step 3: divide what is left by 84 months. That is your monthly income.
- Example: $840,000 left over ÷ 84 = $10,000 a month.
- Minimum score: 660
- Up to 80% LTV
- No cash-out refinance
- No investment properties
See the asset depletion loans page for more detail.
How to Apply, Step by Step
Start the application
It takes about 2 minutes. No SSN and no credit pull on the first step.
We run your assets
We add up your accounts and show you the monthly income they create.
Upload your statements
Every account you want to count, with 6 months of history.
Get your pre-approval
A real underwriter reads your file.
Asset Depletion Loan Application FAQ
What documents do I need for an asset depletion loan?
You need a photo ID and statements for every account you want to use, showing the money has been there at least 6 months. Your most recent statements cannot be more than 30 days old at closing. Trust documents are needed if the money is in a trust.
How is income calculated on an asset depletion loan?
We add up your qualified assets, take out the down payment, closing costs and reserves, and divide what is left by 84 months. For example, $840,000 left over becomes $10,000 a month in qualifying income.
How much money do I need for an asset depletion loan?
After your down payment, closing costs and reserves, you need at least $500,000 or 1.5 times the loan amount, whichever is less. There is also a second method that needs enough to cover the loan and 5 years of your monthly debts.
Do retirement accounts count?
Yes. Vested retirement accounts count at 70% of their value. Stocks, bonds and mutual funds count at 80%, and checking, savings and money market accounts count at 100%. Business accounts cannot be used.
What credit score do I need?
The minimum is 660. Loans go up to 80% of the home’s value. Asset depletion cannot be used for a cash-out refinance or an investment property.
How long does the first step take?
About 2 minutes. There is no SSN and no credit pull on the first step. After that, we run your assets and send you the exact statements your file needs.
Related Pages
About the Author
J.D. Peck is an Area Manager and Mortgage Loan Originator (NMLS #314883) with the JD.Mortgage Team at Paramount Residential Mortgage Group, Inc. (NMLS #75243), based in Colorado Springs. 25+ years, 3,100+ closed loans, Scotsman Guide Top Originator 2026. Lending in 49 states. New York excluded.
Last updated: September 25, 2026. Program facts sourced from the PRMG Income Qualifying Product Profile (09/17/2026).
Start Your Asset Depletion Loan
It takes about 2 minutes. We run your accounts and show you the monthly income they create.
What are you looking to do?
No SSN required. No credit pull. Takes about 2 minutes.