Non-QM Purchase Financing
Buy a Home in Georgia Using the Assets You've Already Built
Your financial strength isn't always captured by a paycheck or a tax return. Asset depletion and asset qualifier options may allow eligible borrowers to use verified assets as part of mortgage qualification.
If you've been told your income doesn't support the home you want, that may be a documentation problem rather than a financial one. This page covers how the approach works, who it fits, and when another product deserves the first look.
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Based in Atlanta, serving buyers across Georgia
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Custom Pricing
See What Your Assets May Qualify You For
Strong assets, limited income on paper. If that's you, the useful next step isn't a generic rate table. It's a look at how your actual asset mix would be treated under the programs available right now.
Requesting a quote is not a loan application, an approval, a rate lock, or a commitment to lend. Pricing on non-QM asset based programs varies by borrower, property, structure, and lender, and changes with the market.
What to expect: a short conversation about your assets, the property, and your timeline.
What we'll ask: roughly what you hold and where, and whether there's income you'd still like counted.
What you'll see: current pricing across the wholesale programs your scenario supports, not one lender's single option.
What we won't do: steer you into an asset based structure when full documentation would qualify you on better terms.
Your Scenario, Reviewed Directly
Built around your real assets rather than a sample rate typed onto a web page. Because these are non-QM programs, expect a conversation rather than an instant number.
Prefer to talk it through first? Talk With A Loan Expert or call 404.919.5533.
The Basics
What is an asset depletion loan?
An asset depletion mortgage uses eligible verified assets to help establish qualifying income, or another qualifying basis, instead of relying only on salary or traditional employment income. It's sometimes called an asset qualifier mortgage, and the calculation depends on the program, the asset type, and the borrower.
Instead of asking what you earn each month, this approach starts with what you've already built. Eligible assets are verified under current program requirements, and the result can support an application that a standard income worksheet would understate. It's a documentation strategy for financially strong borrowers, not a shortcut around underwriting. Your file still gets read closely. It just gets read correctly.
Asset depletion or asset qualifier: what's the difference?
Your eligible assets, minus the down payment and out-of-pocket closing costs, are divided over 60 months to create qualifying monthly income. An 84-month option exists on some programs.
No income conversion at all. One current option qualifies you when your post-closing assets equal at least 125% of your total outstanding mortgage debt.
Closely related, often used interchangeably, but under current programs they're two distinct qualification paths:
What assets may count?
Programs look at cash and cash equivalents, brokerage accounts, stocks, bonds, mutual funds, retirement accounts, and trust accounts, and not every dollar is treated the same way. Under current programs, cash, money market, stock, bond, and mutual fund balances may be credited at 100%. Vested retirement accounts are typically credited at 70% before eligible retirement age, and up to 100% once you've reached it. Trust accounts may count in full with the right documentation.
Assets generally need only about 30 days of seasoning, and everyone listed on the accounts goes on the loan. Program rules determine the rest: which accounts are eligible, how ownership between spouses or entities is handled, and what documentation is required. We review your actual mix against current requirements rather than assuming a universal rule.
Who It May Fit
Borrowers Who Often Consider Asset Based Qualification
This strategy exists for people whose balance sheet tells a stronger story than their pay stub. Retirees are the clearest fit, and far from the only one.
Retirees
Substantial retirement and brokerage assets alongside limited pension or Social Security income. The most common reason borrowers explore this path.
Buyers approaching retirement
Still working, planning to stop soon, and reluctant to take on a mortgage underwritten against income that's about to change.
High net worth buyers
Significant verified assets where taxable income, after deductions and tax planning, doesn't reflect real financial strength.
Business owners between ventures
Strong liquidity following a sale or transition, before new income has shown up on two years of returns.
Investors living from their portfolio
Borrowers whose lifestyle is funded by holdings rather than paychecks, with distributions that vary year to year.
Executives leaving salary income
Professionals transitioning out of employment, taking a package, or moving to consulting, who remain financially strong throughout.
Buyers who'd rather not liquidate
People with the cash to buy outright who would prefer to keep long term positions invested and finance instead.
Asset rich, income light borrowers generally
Anyone with substantial verified assets but limited, irregular, or hard to document reported income.
Recognizing yourself in one of these profiles doesn't mean you qualify. Eligibility depends on verified assets, credit, the property, complete program requirements, and underwriting approval.
The Honest Part
When an Asset Depletion Loan May Not Be the Right Fit
We'd rather point you to the right product than talk you into this one. A different path deserves the first look when any of these describe you.
- You have documentable income that supports the purchase. Full documentation financing is simpler and usually prices better.
- Your assets are mostly illiquid, such as real estate equity, a private business interest, or restricted stock. Programs generally count liquid and near liquid assets.
- Your self employed income just doesn't show well on returns. A bank statement program often qualifies the same borrower on ongoing cash flow, regardless of asset size.
- You're buying to rent the property out. A DSCR loan is evaluated on the property's cash flow rather than on you, and is usually the more direct fit.
- Your balances swing widely month to month. Programs verify assets at a point in time under specific seasoning rules, and volatility complicates that review.
- You'd need to draw the assets down right after closing. The math assumes they're there, and spending them down creates real payment pressure later.
- You want the lowest available rate above all else. Non-QM pricing reflects the flexibility, and full documentation usually costs less when it's available to you.
- Credit, not income, is the actual obstacle. Assets don't substitute for credit, and that's worth addressing on its own terms first.
Options worth comparing instead
None of these are consolation prizes. Part of our job is telling you which tool the situation calls for.
- Conventional loans, when income documents cleanly and the amount fits conforming limits.
- Self employed and bank statement options, when ongoing cash flow is the real story.
- Jumbo loans, when loan size is the constraint and income documents traditionally.
- DSCR investor loans, when the property is an income producing investment.
- Home equity options, when you already own and want to access equity instead.
- UHome's No Income No Employment Loan, when you'd rather not document income or employment at all.
The Full Picture
Potential Benefits, Weighed Against Real
Considerations
Asset based qualification buys recognition of financial strength that standard underwriting misses. It costs you the simplicity and pricing of a conventional loan. Whether that trade is worth making depends on your situation.
Credit scores as low as
For primary and second homes. Investment options exist with scores as low as 600 at reduced LTVs.
Down payments from
LTV up to 85% on eligible purchases with stronger credit. Lower scores mean larger down payments.
Loan amounts up to
Starting at $100,000, depending on the program.
Qualifying assets from
The lesser of $500,000 or the loan amount on some programs. Others set it at $1 million.
POTENTIAL BENEFITS
- Verified assets may establish a qualifying basis when monthly income is limited, irregular, or unrepresentative.
- Qualifying asset minimums start as low as the lesser of $500,000 or the loan amount on some programs.
- Reserves may not be required on some asset depletion options. The qualifying assets themselves can be enough.
- Assets need only about 30 days of seasoning, and gift funds can cover 100% of the down payment on some options.
- A No DTI option may be available alongside the traditional path, and DTI can run to 50%, or 55% with conditions.
- No minimum age requirement on some programs, so this isn't limited to retirees.
- Primary, second home, and investment purchases may all be eligible. Investment options reach credit scores as low as 600 at reduced LTVs.
- As a broker, we compare structures across wholesale programs rather than fitting you to one lender's box.
IMPORTANT CONSIDERATION
- This is non-QM financing. Pricing and terms reflect the added flexibility and usually differ from conventional pricing.
- Not every dollar counts. Retirement assets before retirement age are typically credited at 70%, and program rules decide which accounts are eligible at all.
- Documentation is extensive. Statements, sourcing, seasoning, and ownership all get verified. That's real paperwork.
- The best leverage needs stronger credit. LTVs up to 85% generally require scores around 700 or higher, and at the lowest scores expect roughly 25% to 30% down.
- No DTI does not mean no underwriting, no asset verification, or guaranteed approval. Every file is fully documented and reviewed.
- Occupancy, property type, and loan amount eligibility vary by program, and investment property options can carry prepayment penalties.
- Program availability changes. A structure offered today may not be later, which is why we verify before we promise.
Educational only. This is not a statement that asset based qualification is better or worse than any other option, and not a determination of what you qualify for. Figures reflect program availability at the review date and are not universal industry rules.
Compare Your Options
How FHA Compares With Other Purchase Programs
A qualitative, side by side look. No program is best for everyone. The right answer comes from your complete situation.
| Criteria | FHA Loan | Conventional Loan | VA Loan | USDA Loan |
|---|---|---|---|---|
| Best suited for | Buyers seeking flexible credit and down payment considerations | Buyers with stronger credit or larger down payments | Eligible veterans, service members, and certain surviving spouses | Buyers purchasing in eligible rural and some suburban areas |
| Primary purpose | Primary residence purchase with government insured backing | Broad purchase financing without government insurance | Primary residence purchase with a VA guaranty | Primary residence purchase in designated eligible areas |
| Occupancy | Generally a primary residence | Primary residence, second homes, and investment properties | Generally a primary residence | Generally a primary residence |
| Down payment | Often lower; eligible gift funds may help | Varies widely with the full profile | Little or no down payment may be possible for eligible borrowers | Little or no down payment may be possible for eligible borrowers |
| Credit considerations | More flexible; the full history is reviewed | Generally less flexible than FHA | Flexible for eligible borrowers | Program specific review applies |
| Mortgage insurance | Upfront and monthly mortgage insurance generally apply | May be reduced or removed depending on the structure | No monthly mortgage insurance; a funding fee may apply | Program guarantee fees may apply |
| Property considerations | Property must meet FHA standards | Standard appraisal and property review | Property must meet VA requirements | Property and location must meet USDA requirements |
| Primary advantage | Accessibility for a wide range of borrower profiles | Potentially lower long term cost for strong profiles | Powerful benefits for eligible veterans | Affordability in eligible areas |
| Potential tradeoff | Mortgage insurance and property standards | Less flexibility for challenged credit | Limited to eligible borrowers | Limited to eligible locations and income ranges |
| When another option may fit better | Strong credit with a larger down payment, or VA eligibility | Limited savings or recovering credit | No VA eligibility | The property sits outside eligible areas |
| Check My FHA Options | Explore Conventional Loans | Explore VA Loans | Explore USDA Loans |
Not sure which program fits? Talk With A Loan Expert
Your Path
How the Asset Depletion Loan Process Works
Six steps from first conversation to funding. The work specific to asset based files happens early, which is why we'd rather talk before you're under contract than after.
1
Discuss Your Goals
What you want to buy, roughly what you hold and where, and how much of it you'd rather keep invested. That conversation shapes everything after it.
2
Review Your Options
We compare the program paths your profile supports, including whether an asset qualifier, asset depletion, or entirely different documentation strategy fits better.
3
Verify your eligible assets
Cash, investment, and retirement accounts are documented and verified under current program requirements, including ownership, sourcing, and roughly 30 days of seasoning.
4
Establish the qualifying basis and get preapproved
Each asset type is credited according to the program's rules and converted into a qualifying figure, or used as the qualification basis itself, so you can make an offer.
5
Appraisal, underwriting, and verification
The property is valued while your full file is reviewed: credit, assets, obligations, and program requirements. Answering document requests quickly is the biggest thing you control.
6
Clear to close and fund
Once conditions are cleared you'll receive your Closing Disclosure, review the final terms, and sign. We walk through those numbers with you rather than emailing them and hoping.
Be Prepared
Documents You May Need
Not every borrower needs every item. Your loan expert will confirm exactly what applies to you.
Income
- Recent pay stubs covering the period your lender requests
- W-2 forms for the most recent years required by your program
- Federal tax returns if you're self employed, commissioned, or have other income types
- Year to date profit and loss if you own a business
- Documentation for retirement, Social Security, pension, or disability income
- Award letters or agreements for child support or alimony you want counted
Assets and funds to close
- Recent statements for checking, savings, and investment accounts
- Retirement account statements if funds are being used or counted as reserves
- Documentation and a gift letter for any gift funds
- Explanation and sourcing for large or unusual deposits
- Proof of earnest money and its source
Identity and credit
- Government issued photo identification
- Social Security number for the credit report authorization
- Written explanation for credit items your underwriter asks about
- Bankruptcy, foreclosure, or short sale documentation if applicable
- Divorce decree or separation agreement if it affects income or obligations
Property and transaction
- Fully executed purchase contract and any amendments
- Homeowners insurance quote or binder
- Contact information for your closing attorney and real estate agent
- HOA or condo documentation when the property has an association
- Flood zone documentation if the property requires it
If you currently own property
- Mortgage statements for properties you own
- Property tax and homeowners insurance documentation
- Lease agreements if a property is rented
- Settlement statement if you're selling a home before or at closing
Program specific items
- Certificate of Eligibility and DD-214 for VA financing
- Residency or visa documentation when applicable
- Documentation required by any down payment assistance you're using
- Anything your underwriter requests after reviewing your file
Documentation requirements come from the underlying loan program, applicable lending standards, and the underwriting of your specific file. This list is a preparation guide, not a complete or final list of conditions for any loan.
Down payment and funds to close: your program sets the numbers, not the ARM label
An adjustable rate mortgage is a rate structure, not a separate down payment rulebook. Your minimum down payment, closing costs, mortgage insurance, and reserve expectations all come from the underlying loan program you qualify for and your overall borrower profile.
That's why we don't print a universal ARM down payment figure here. Two buyers choosing the same ARM structure can face different requirements because their programs and profiles differ. When we price your scenario, we lay out the full cash to close picture next to the rate structure so you can judge both at once.
Real World Context
Three Common Borrower Scenarios
Educational examples only. They show how the thinking works, not how any specific loan will be decided.
Educational Example 01
First Time Buyer With Limited Savings
The situation
A renter with steady income has been saving, but a large conventional down payment still feels years away.
Why FHA may be considered
Lower down payment possibilities and eligible gift funds can shorten the runway to a realistic purchase.
What still needs review
Income stability, monthly obligations, housing history, and funds for closing all shape the final answer.
When another program could fit better
If a down payment assistance program or a conventional option pencils out stronger, we say so.
Educational Example 02
Buyer Rebuilding After a Credit Challenge
The situation
A past financial setback dented the borrower's credit, but recent history shows consistent, on time payments.
Why FHA may be considered
FHA's flexible credit considerations allow the full recovery story to be part of the review.
Why the full history matters
Approval cannot be determined from a credit score alone. Patterns, explanations, and recent behavior all count.
What documentation may be needed
Letters of explanation, proof of resolved accounts, and consistent housing payment records may support the file.
Educational Example 03
Repeat Buyer Comparing FHA and Conventional
The situation
A homeowner selling and buying again wants to know which program actually costs less for their next chapter.
Why both programs should be compared
Each structure treats credit, down payment, and insurance differently, so the winner changes case by case.
How mortgage insurance may affect the decision
FHA insurance works differently from conventional insurance, and that difference can shift the long term math.
What drives the recommendation
Down payment, credit, income, and how long the buyer plans to keep the home all factor into the comparison.
Your situation is its own scenario. Let us look at it together.
Local Guidance
FHA Loan Guidance for Georgia and Atlanta Metro Homebuyers
Buying in Georgia
[CMS: Georgia introduction] Editable area for a genuine Georgia overview written by UHome, covering how FHA financing tends to be used across the state and what buyers here should know first.
Atlanta Metro Considerations
[CMS: Atlanta Metro content] Editable area for real market context, such as how competitive offers, property condition, and neighborhood variety across the metro can interact with FHA appraisals and timelines.
County Level Notes
[CMS: County references] County loan limits and local considerations vary. UHome will publish meaningful notes for the counties it serves, starting with the Atlanta Metro area.
Down Payment Assistance in Georgia
[CMS: Assistance references] Editable area referencing Georgia homebuyer assistance resources that may pair with FHA financing when eligibility requirements are met.
Georgia Homebuyer Resources
- Georgia First Time Homebuyer Guide
- Down Payment Assistance Programs
- Atlanta Metro Buying Guide
- Credit Preparation Guide
- Check your options as a Georgia homebuyer
CMS: Service area statement — UHome Mortgage serves homebuyers across Georgia, with additional licensing in Alabama and Texas.
GOOD QUESTIONS
FHA Loan Questions, Answered Plainly
What is an FHA loan?
An FHA loan is a mortgage insured by the Federal Housing Administration. The government insurance allows lenders to offer more flexible credit and down payment considerations than some conventional programs, generally for buyers purchasing a primary residence.
Do I have to be a first time buyer?
No. FHA loans are available to both first time and repeat buyers who meet program requirements and plan to occupy the home as a primary residence.
Can an FHA loan be used for an investment property?
Generally no. FHA purchase financing is intended for a primary residence. Certain eligible properties with two to four units may work when the borrower occupies one of the units and requirements are met. Purely investment purchases usually point to other programs, and we can walk you through those options.
What types of homes may qualify for FHA financing?
Common examples include single family homes, certain townhomes, FHA approved condominiums, certain properties with two to four units, and manufactured homes when program requirements are met. Eligibility depends on the specific property and current program guidelines.
Can gift funds be used?
In many cases, yes. Eligible gift funds from an acceptable source may be used toward the down payment and closing funds when they are documented according to program requirements. Your loan expert will explain what documentation is needed.
How does FHA mortgage insurance work?
FHA loans generally include an upfront mortgage insurance premium and a monthly mortgage insurance premium. This insurance is part of what makes the program's flexibility possible. How long the monthly portion lasts depends on the loan structure, and we will walk you through what it means for your specific situation.
What happens during an FHA appraisal?
An FHA appraisal does two jobs. It estimates the home's value, and it reviews the property against FHA standards for safety, soundness, and security. If the appraiser notes items that need attention, some repairs may need to be addressed before closing.
Should I choose FHA or conventional financing?
It depends on your complete situation, including credit, down payment, income, and how long you plan to keep the home. Some buyers do better with FHA, others with conventional. As a broker, UHome compares both across multiple lenders and shows you the tradeoffs before you decide.
Still have a question? Call 404.919.5533 Open now until 9:00pm ET
Sources
Guideline Sensitive Information on This Page Is Checked Against These Sources
Sources and References
- U.S. Department of Housing and Urban Development, Let FHA Loans Help You
- HUD, The Federal Housing Administration
- HUD, FHA Resource Center
- Consumer Financial Protection Bureau, What Is an FHA Loan
- Consumer Financial Protection Bureau, FHA Loans Overview
Reviewed by Coby Pegues, Founder and President, UHome Mortgage LLC, NMLS 2556341. Last reviewed August 2026.
Keep Learning
Explore Related Resources
Your Next Step
Let's Find Out Whether an FHA Loan Fits Your Situation
Answer a few questions about your goals, finances, and property plans. UHome will help you compare FHA financing with other available mortgage options.
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Disclosures
General mortgage disclosure
[CMS: General disclosure] This page is for educational purposes and is not a commitment to lend. Program requirements may vary. Eligibility depends on the complete borrower profile. Subject to lender and FHA guidelines. Additional requirements may apply.
FHA program disclosure
[CMS: Program disclosure] UHome Mortgage LLC is not acting on behalf of or at the direction of HUD or FHA. Property eligibility must be reviewed. The appropriate loan program depends on the borrower's full financial situation.
Licensing information
Coby Pegues, NMLS #2556341 · UHome Mortgage LLC, Company NMLS #2559453
[CMS: State licensing] Licensed in Georgia, Alabama, and Texas. State licensing details placeholder.
Equal Housing Opportunity
[CMS: EHO statement] Equal Housing Opportunity. Placeholder for the Equal Housing statement and logo placement.
Additional program disclosures
[CMS: Additional disclosures] Repeatable disclosure blocks may be added per loan program without editing the template.
