Best Asset Depletion Lenders for Self-Employed Borrowers (2026)
Asset depletion loans (also called asset-utilization or asset-qualifier loans) let you qualify by converting your liquid assets into a hypothetical monthly income stream. Ideal for retirees, business owners between exits, and high-net-worth borrowers with large savings but little documented monthly income.
Typical Rates
7.25%–9.5% (approx.)
Max LTV
Up to 80%–85% (purchase)
Typical Terms
30-year fixed or ARM
Min Credit
620–680
What Are Asset Depletion Loans?
Asset depletion loans answer a common problem: you have plenty of money, but not in the form of a paycheck. The lender takes your eligible liquid assets — checking, savings, brokerage, and a discounted share of retirement accounts — and divides the total by a set number of months to produce a qualifying monthly income. You never actually spend the assets; the math simply demonstrates your ability to repay. It is a favorite of retirees and recently-exited business owners.
Who Are Asset Depletion Loans Best For?
- Retirees living off savings and investments
- Business owners between liquidity events
- High-net-worth borrowers with limited monthly income
- Borrowers with large brokerage or retirement balances
Pros & Cons
Pros
- +No employment or monthly income required to qualify
- +Uses liquid assets you already hold — no need to liquidate
- +Can be combined with other documented income
- +Works for owner-occupied purchase and refinance
Cons
- –Requires substantial verified liquid assets
- –Only a portion of retirement assets typically counts (often 70%)
- –Lower LTVs than bank statement loans on some programs
- –Calculation method varies by lender (60–120 month divisor)
Best Asset Depletion Lenders (11)
These lenders offer asset depletion loans, ranked by our editor rating. Click any lender for a full review with detailed terms and expert analysis.
| Lender | Rates | Max LTV | Min Credit | Speed | Best For | Rating |
|---|---|---|---|---|---|---|
| Griffin Funding | 7.25%–9.75% | 90% | 620 | 21–35 days | Self-employed borrowers, Apply direct (no broker) | 4.5 |
| Angel Oak Mortgage Solutions | 7%–9.75% | 90% | 620 | 25–40 days | Broadest non-QM menu, Via broker only | 4.5 |
| New American Funding | 7%–9.5% | 90% | 620 | 21–40 days | Apply direct (no broker), Full product menu | 4.0 |
| Newfi Lending | 7.25%–9.75% | 90% | 620 | 21–35 days | Apply direct (no broker), Non-QM specialist | 4.0 |
| Northpointe Bank | 7%–9.5% | 85% | 640 | 25–40 days | FDIC-insured bank, Apply direct (no broker) | 4.0 |
| Carrington Mortgage Services | 7.25%–10% | 85% | 600 | 25–45 days | Lower credit scores, Apply direct or via broker | 4.0 |
| Deephaven Mortgage | 7%–9.75% | 90% | 620 | 25–40 days | Non-QM pioneer, Via broker only | 4.0 |
| A&D Mortgage | 7.25%–9.99% | 90% | 620 | 25–45 days | Full non-QM menu, Via broker only | 4.0 |
| Newrez | 7%–9.75% | 90% | 620 | 25–40 days | Apply direct or via broker, Smart Series non-QM | 3.5 |
| LoanStream Mortgage | 7.25%–9.99% | 90% | 620 | 25–45 days | NanQ non-QM line, Via broker only | 3.5 |
| Champions Funding | 7.25%–10% | 90% | 600 | 25–45 days | CDFI lender, Via broker only | 3.5 |
Griffin Funding
4.5Griffin Funding is a consumer-direct lender that has built much of its brand around non-QM lending for the self-employed. Borrowers can apply directly online — no broker required — across bank statement, asset-based, 1099, and P&L programs in addition to conventional and VA loans.
7.25%–9.75%
90%
620
21–35 days
$100K–$5M
No experience required
Angel Oak Mortgage Solutions
4.5Angel Oak Mortgage Solutions is one of the largest and most established non-QM lenders in the country, with the broadest self-employed menu in the market. Important for consumers: Angel Oak Mortgage Solutions is a wholesale lender — you cannot apply directly and must work through a mortgage broker.
7%–9.75%
90%
620
25–40 days
$100K–$4M
No experience required
New American Funding
4.0New American Funding (NAF) is one of the largest privately held mortgage lenders in the country, offering a full retail menu that includes non-QM options for self-employed borrowers alongside conventional, FHA, VA, and jumbo loans. Borrowers apply directly through NAF.
7%–9.5%
90%
620
21–40 days
$100K–$5M
No experience required
Newfi Lending
4.0Newfi Lending is a non-QM specialist that operates a genuine consumer-direct retail channel in addition to wholesale. Self-employed borrowers can apply directly for bank statement, asset-utilization, 1099, and ITIN programs without going through a broker.
7.25%–9.75%
90%
620
21–35 days
$100K–$4M
No experience required
Northpointe Bank
4.0Northpointe Bank is an FDIC-insured chartered bank that portfolios select non-QM products, letting self-employed borrowers apply directly for bank statement, asset-depletion, and P&L programs. As a depository institution, it underwrites and holds some of these loans itself.
7%–9.5%
85%
640
25–40 days
$100K–$3M
No experience required
Carrington Mortgage Services
4.0Carrington Mortgage Services is a vertically integrated lender and servicer with a deep non-prime and non-QM focus. Its "Flexible Advantage" series targets self-employed and credit-challenged borrowers, and consumers can apply directly through Carrington's retail channel.
7.25%–10%
85%
600
25–45 days
$100K–$4M
No experience required
Deephaven Mortgage
4.0Deephaven Mortgage is a pure non-QM lender (owned by Pretium) that has focused exclusively on alternative-documentation loans since 2012. For consumers, the key point is that Deephaven is wholesale and correspondent only — you reach its programs through a mortgage broker, not directly.
7%–9.75%
90%
620
25–40 days
$100K–$4M
No experience required
A&D Mortgage
4.0A&D Mortgage is a Florida-rooted, nationwide non-QM specialist serving thousands of broker partners and an active issuer of non-QM securitizations. It is a wholesale and correspondent lender — borrowers reach its full self-employed menu through a mortgage broker.
7.25%–9.99%
90%
620
25–45 days
$100K–$5M
No experience required
Newrez
3.5Newrez is a large national lender and servicer (part of Rithm Capital) offering its "Smart Series" of non-QM products. It operates both retail and wholesale channels — consumers can apply directly, though the broadest non-QM guidelines often live on the broker side.
7%–9.75%
90%
620
25–40 days
$100K–$4M
No experience required
LoanStream Mortgage
3.5LoanStream Mortgage offers a well-known non-QM line branded "NanQ," covering bank statement, 1099, P&L, asset, and ITIN programs. The NanQ line is a wholesale staple — consumers reach it through a mortgage broker rather than applying directly.
7.25%–9.99%
90%
620
25–45 days
$100K–$4M
No experience required
Champions Funding
3.5Champions Funding is a 100% non-QM lender and a Treasury-designated Community Development Financial Institution (CDFI), a status that supports more flexible, exception-based underwriting for underserved borrowers. It is a wholesale lender — consumers apply through a mortgage broker.
7.25%–10%
90%
600
25–45 days
$100K–$5M
No experience required
Frequently Asked Questions About Asset Depletion Loans
How is asset depletion income calculated?
Lenders total your eligible liquid assets, often discount retirement accounts (commonly to 70%), subtract funds needed for down payment and reserves, then divide the remainder by a divisor — frequently 60, 84, or 120 months. The result is your qualifying monthly income. A larger divisor produces a smaller monthly figure, so the program you choose matters.
Do I have to liquidate my investments?
No. Asset depletion is a qualification method, not a requirement to spend down your accounts. Your assets stay invested; the lender only uses their value on paper to confirm you have the resources to cover the payments.
Can I combine asset depletion with other income?
Yes. Many lenders let you add asset-derived income to Social Security, pension, part-time W-2, or self-employment income to qualify for a larger loan. This blended approach is common for semi-retired borrowers.
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