MBReviewed by Mike Basti, Mortgage Broker & Founder · NMLS #377740
Quick Answer
You're generally eligible if you have substantial eligible liquid assets (~$500K–$1M+), good credit (640–700), and a down payment — no income documentation needed. Ideal for retirees, business sellers, self-employed with write-offs, and high-net-worth buyers. See Requirements.
Who qualifies
✓ Ideal borrowers
- Retirees living off a portfolio, not a paycheck
- Recent business sellers sitting on sale proceeds
- Self-employed with large write-offs / low taxable income
- High-net-worth individuals, income-light by design
- Investors who keep capital deployed, not as income
- Those with concentrated stock / RSU proceeds (common in CA)
✗ Better served elsewhere
- Strong W-2 income → conventional (lower cost)
- Profitable business w/ documented income → bank statement / P&L
- Assets below ~$500K after down & closing
- Wealth mostly in real estate / business (excluded)
You may qualify on assets you're not even touching: The insight that surprises most borrowers is that asset depletion doesn't require you to withdraw, spend, or liquidate anything. The lender reads your balances as evidence of capacity — proof you could make the payment — and converts them to a qualifying-income figure on paper. Your portfolio stays invested, keeps compounding, and keeps generating whatever dividends or gains it already does. If the market drops after you close, your loan doesn't change; it's already set. So the question isn't "do I want to spend my savings on a house" — it's "can my existing balance sheet, left completely intact, qualify me." For asset-rich borrowers, the answer is usually yes. Let's confirm →
Eligible vs excluded assets
| Eligible (counts) | Excluded (doesn't) |
|---|---|
| Cash, checking, savings, CDs, money market | Real estate equity |
| Stocks, bonds, mutual funds | Business-owned assets |
| Retirement (401k, IRA, Roth) | Foreign assets |
| Brokerage / investment accounts | Cars, jewelry, personal property |
| Revocable trust (with docs) | Crypto, private equity |
Accounts must be in the borrower's name. Irrevocable trusts get more scrutiny.
The age rules
- Under 59½: retirement accounts discounted more (60–70%) for early-withdrawal penalty exposure.
- 59½+: retirement counts higher (70–80%), sometimes near full at 65+.
- Age 62 (agency programs): up to 80% LTV vs 70% for under-62 borrowers.
Property & occupancy
| Property | Eligible? |
|---|---|
| Primary residence | Yes |
| Second / vacation home | Yes |
| Investment property | Often (non-QM); limited on agency |
Reviewed by the licensing team at Save Financial, a California-licensed mortgage brokerage (NMLS #377740, DRE #01875766) founded in 2009 and serving all 58 counties from offices in Newport Beach and Marina del Rey.