No income mortgage
Qualify on your assets or the property, not your paycheck
Two programs that do not rely on traditional income verification: Asset Depletion for buying your primary residence, and DSCR for real estate investors.
- Primary residence
- Asset Depletion
- Investors
- DSCR
- Income docs
- Not required
- Entity
- LLC allowed (DSCR)
Primary residence purchases
Asset Depletion loans
An Asset Depletion loan is for buying the home you will live in. Instead of verifying paychecks, the lender looks at your eligible assets, such as savings, investment accounts and retirement funds, and converts them into qualifying monthly income.
It can be a strong fit for retirees, business owners, and anyone with substantial assets but little or irregular income.
Key benefits
- Buy your primary residence without pay stubs, W-2s or tax returns
- Use savings, investments and retirement assets to qualify
- A good fit for retirees and borrowers with irregular income
- Purchase and refinance options on eligible homes
- Fixed and adjustable rate options
What you need to qualify for an Asset Depletion loan
- The home must be your primary residence
- Substantial verified liquid assets, which depend on the program
- A down payment, often 10% to 20% or more
- Credit score requirements that vary by program
- Cash reserves after closing
Investment properties
DSCR loans for investors
A debt service coverage ratio (DSCR) loan is built for real estate investors. It looks at whether the property's rent covers its mortgage payment, taxes and insurance, so your personal income is not part of the approval.
That means no pay stubs, W-2s or tax returns for personal income, and no debt-to-income limit holding back your next purchase.
Key benefits
- No personal income verification
- Close in an LLC or other entity
- Scale your portfolio without a debt-to-income limit
- Purchase and refinance, including cash-out
- Single-family, condos, townhomes and small multifamily
- Faster, simpler documentation
What you need to qualify for a DSCR loan
- The property must be an investment or rental property
- Rental income that covers the payment (DSCR typically 1.0 or higher)
- A down payment, often 20% to 25%
- Credit score requirements that vary by program
- Cash reserves after closing
Rates, terms and guidelines vary by program and are subject to change.
Who this loan is best for
Want to know more? I would be honored to assist you in achieving your goals.
ConnectOrder CreditApply NowThe process, step by step
- 1
Tell me your goal
Primary residence or investment property, and what you want to buy.
- 2
Choose a program
Asset Depletion or DSCR, whichever fits.
- 3
Share your documents
Asset statements, or the property and expected rent.
- 4
Appraisal and review
The property is appraised and your file is reviewed.
- 5
Close
Sign personally or, for DSCR, in your LLC.