Block 1

Asset Depletion Income Qualification

Designed for borrowers that need to supplement their income with seasoned assets in order to make their income adequate to qualify for a mortgage

 Asset Depletion Flyer

Asset Depletion Highlights

  • Supplement your earned income with seasoned assets
  • 12 month income history
  • Calculate income by beginning with the asset account balance:
    • Subtract penalties (if applicable)
    • Subtract taxes
    • Divide by 84 to get your supplemental income

Asset Depletion Documentation Requirements

  • 2 most recent consecutive asset statements
    • Assets must be seasoned 60 days prior to close
    • Unusual or uncharacteristic deposits must be sourced 
  • Current income documentation
    • Previous year’s W2 and 2 most recent, consecutive pay stubs or
    • Recent tax returns, SSN reward letter or VOE

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Mike Tiraboschi
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Andrew Stachak
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Nick Davis
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