MBReviewed by Mike Basti, Mortgage Broker & Founder · NMLS #377740
Quick Answer
To qualify in 2026 you generally need: ~$500K–$1M+ in eligible liquid assets (after down & closing), a 640–700 FICO, 20%+ down, and reserves — with no income documentation. Qualifying income = (eligible assets − down − closing − reserves) ÷ depletion period. See Eligibility.
The core requirements (2026)
| Requirement | Typical |
|---|---|
| Eligible assets | ~$500K–$1M+ (after down & closing) |
| Credit score | 640–700 FICO minimum |
| Down payment | 20%+ (non-QM) |
| Income docs | None required |
| Reserves | 6–12 mo housing (often met by same assets) |
| Occupancy | Primary, second, or investment |
| Asset statements | 2–3 months, all pages |
Illustrative for 2026; asset depletion is non-QM, set by individual specialty lenders. Not an offer. See how rates price →
The formula — and the divisor that changes everything
The divisor is the single most important variable: Every asset depletion program runs the same math — (eligible assets − down payment − closing costs − reserves) ÷ depletion period = monthly qualifying income — but the depletion period (the divisor) swings the result dramatically. A non-QM program dividing by 60–120 months produces far more qualifying income than an agency-style program dividing by 360. Example: $1.5M in eligible assets ÷ 120 = $12,500/mo; the same $1.5M ÷ 360 = $4,167/mo. Same portfolio, three very different loan sizes. Choosing the right program at this step matters more than anything you could negotiate later — so we run your numbers under every divisor you fit. Find my best divisor →
| Divisor | $100K of assets = | Type |
|---|---|---|
| 60 months | ~$1,667/mo | Aggressive non-QM |
| 84 months | ~$1,190/mo | Non-QM |
| 120 months | ~$833/mo | Common non-QM |
| 360 months | ~$278/mo | Agency-style |
Which assets count — and their haircuts
| Asset | Counted at |
|---|---|
| Cash, checking, savings, CDs, money market | ~100% |
| Stocks, bonds, mutual funds | ~70% |
| Retirement (59½+) | 70–80% |
| Retirement (under 59½) | 60–70% (penalty haircut) |
| Roth IRA | Often ~100% (tax-free) |
| Real estate equity, business assets, crypto | Generally excluded |
Model your own pool in the calculator.
Documents checklist
| Document | Purpose |
|---|---|
| 2–3 months statements, all eligible accounts (every page) | Verify balances |
| Proof of account ownership | Accounts in borrower's name |
| Retirement statements w/ distribution status | Age & access haircut |
| ID & credit | Standard |
| Property/transaction docs | Appraisal, contract |
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.