Check Your Asset Utilization Eligibility Today.
Mbanc NMLS #38232 | Equal Housing Opportunity Lender
Credit Score Requirements
Minimum credit score: 640across all asset utilization programs.
| Credit Score | Maximum LTV | Pricing Tier |
|---|---|---|
| 720+ | 85% | Best available |
| 700–719 | 85% | Near-best |
| 680–699 | 85% | Standard |
| 660–679 | 80% | Moderate premium |
| 640–659 | 75–80% | Higher premium |
For retired or asset-rich borrowers, credit scores are often excellent — these are typically people with long credit histories, no consumer debt, and decades of on-time payment records. 720+ credit is common in this population, and it produces the best available pricing.
Asset Requirements
Minimum eligible assets:No specific floor — the assets simply need to produce sufficient qualifying income at the target DTI.
Minimum qualifying income to buy example:Target: $1,200,000 primary residence at 8.25%, 80% LTV.
Loan: $960,000. P&I: $7,205/month. Taxes/insurance: $1,800. PITIA: $9,005/month.
Required qualifying income at 50% DTI: $18,010/month.
Required eligible assets: $18,010 × 84 = $1,512,840 minimum eligible assets.Always work backwards from the target PITIA to determine the minimum assets needed.
Post-close reserve requirements(separate from qualifying assets and separate from down payment):
| LTV | Reserves Required |
|---|---|
| ≤ 80% | 6 months PITIA |
| 80.01–85% | 12 months PITIA |
| Loan above $1.5M | 12 months PITIA |
| Loan above $2.5M | 18 months PITIA |
Important:Reserves are a third pool of capital — separate from (1) down payment and closing costs and (2) qualifying assets used for income calculation. All three pools must be documented simultaneously.
Down Payment Requirements
Primary residence:Minimum 15% down (85% LTV) at 660+ credit. No PMI at any LTV.
Standard: 20% down (80% LTV).
Second home:10–15% minimum down (85–90% LTV, credit dependent).
Investment property:Typically 20–25% down. DSCR (rental income qualification) is preferred for investment property — asset utilization for investment purchases is available but less common.
DTI (Debt-to-Income) Requirements
Maximum DTI: 50%.Standard for all asset utilization programs.
Up to 55% on primary residenceunder specific documented conditions: 660+ credit, ≤80% LTV, minimum 12 months post-close reserves, residual income ≥ $4,000/month, not first-time homebuyer, loan ≤ $1,500,000.
The DTI calculation uses the asset utilization qualifying income as the denominator. For borrowers with no other obligations beyond housing, the DTI is simply PITIA ÷ asset qualifying income. A borrower with $40,000/month in asset qualifying income and $16,000/month PITIA has 40% DTI — comfortable.
Documentation Requirements
What you submit:Government-issued photo IDMost recent 2 months of statements for all eligible accounts:All pages. Account holder name visible. Account number visible. Current balance shown.
For retirement accounts:Most recent quarterly statement showing vested balance. Plan name and account number. Beneficiary designation may be requested.
For trust-held assets:Complete trust document. Confirmation of borrower’s access rights.
What you do NOT submit:Federal tax return
W-2 or pay stubs
Employer verification letter
Social Security award letter (unless supplementing with SS income)
Business bank statements (unless supplementing with bank statement income)
CPA letter
This is the leanest documentation file of any mortgage program. Most asset utilization loan files are 15–30 pages of statements plus standard borrower documents. Compare to 60–100+ pages for conventional self-employed.
Loan Amount Requirements
Minimum loan:$150,000.
Maximum loan:$4,000,000.
State overlays:Florida, Illinois, New York, New Jersey, Connecticut: maximum $2,000,000 on primary residence. National parameters on investment property.
Loan Terms
30-year fixed, 40-year fixed, 5/6 ARM, 7/6 ARM, 10/6 ARM. Interest-only available on ARM products (660+ credit).
The ARM consideration for asset-rich borrowers:Asset-rich borrowers — particularly retirees and recent business sellers — often have specific timelines in mind. A 65-year-old buying a primary residence may plan to hold it 7–10 years before downsizing or passing it to family. The 7/6 ARM (50–75 bps below 30-year fixed) captures significant rate savings for the planned hold period.
The 40-year term is rarely needed for asset utilization borrowers because their qualifying income is typically very high relative to their target PITIA — DTI is not usually a binding constraint. The DTI optimization tools (40-year, IO ARM) are more valuable for bank statement and 1099 programs where income is tighter.
The Complete Capital Calculation
On a $1,800,000 primary residence purchase, asset utilization at 80% LTV (720+ credit):
| Item | Amount |
|---|---|
| Down payment (20%) | $360,000 |
| Estimated closing costs (2.5%) | $36,000 |
| Post-close reserves (6 months × $13,800 PITIA) | $82,800 |
| Total capital required | $478,800 |
Qualifying assets must be separate from this $478,800 in deployed/reserved capital:
If borrower has $3.5M total: $3,500,000 − $396,000 (down + closing) = $3,104,000 qualifying assets.
Monthly qualifying: $3,104,000 ÷ 84 = $36,952/month.
Post-close reserves confirmed separately: $82,800 remaining after the purchase.
Frequently Asked Questions
Can retired people with no income get a mortgage?
Yes — the asset utilization program specifically serves retirees with investment portfolios, IRAs, and retirement savings. No earned income required.
What minimum assets are needed for a $1M loan?
At 8.25%, a $1M loan produces approximately $7,538/month P&I plus taxes and insurance (approximately $1,500-$2,000/month). Total PITIA: $9,038–$9,538. At 50% DTI: qualifying income needed = $18,076–$19,076/month. Eligible assets required: $1,518,384–$1,602,384.
Does the asset utilization loan have PMI?
No. PMI is never required at any LTV for Non-QM asset utilization loans.
Not a commitment to lend. Mbanc NMLS #38232 | Equal Housing Opportunity Lender
Reserve Requirements: The Often-Missed Capital Need
Asset utilization borrowers have the third most complex capital requirement structure of any Non-QM program (behind DSCR multi-property investors), because three separate capital pools are required:
Pool 1 — Down payment and closing costs:Deployed funds that go toward the purchase. Excluded from qualifying assets.
Pool 2 — Qualifying assets:The portfolio that generates the monthly qualifying income calculation. Must be verified at the time of application, net of Pool 1 deployments.
Pool 3 — Post-close reserves:Liquid assets that must remain available AFTER the purchase closes. 6–12+ months PITIA depending on LTV and loan size. This is separate from the qualifying asset portfolio (Pool 2) — but for most asset utilization borrowers, the reserve requirement is easily satisfied by the remaining portfolio after the purchase.
Example showing all three pools:Total portfolio: $4,200,000.
Pool 1 (down payment + closing): $360,000 + $40,000 = $400,000 excluded.
Pool 3 (12 months reserves at 85% LTV, $14,000 PITIA): $168,000 must remain liquid post-close.
Pool 2 (qualifying assets): $4,200,000 − $400,000 (Pool 1) = $3,800,000 available.
Monthly qualifying income: $3,800,000 ÷ 84 = $45,238/month.
Note: Pool 3 reserves come from the broader portfolio, not a separate required account. The loan officer confirms post-close reserves will be maintained at the required level.
Not a commitment to lend. Mbanc NMLS #38232 | Equal Housing Opportunity LenderNot a commitment to lend. Mbanc NMLS #38232 | FL #MLD1287 | CA DBO #60DBO45280 | TX SML | NC #L-183446 | IL #MB.6761396 | GA #48090 | TN #178934 | Equal Housing Opportunity Lender | Asset utilization loan requires 640+ credit score | Eligible assets ÷ 84 = monthly qualifying income | Programs and rates subject to changeMbanc NMLS #38232 | Equal Housing Opportunity Lender | Asset utilization mortgage: eligible liquid assets ÷ 84 = monthly qualifying income | No W-2, no tax return, no active income required | Minimum 640 credit score | 15% minimum down payment | No PMI | Up to $4,000,000 | Programs, rates, and availability subject to change without notice
Asset Utilization Requirements: The Three-Question Check
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The asset utilization loan has fewer documentation requirements than almost any other mortgage program. No employer to verify. No pay stubs to produce. No Schedule C to explain. The requirements focus on what actually matters: the credit score that predicts payment behavior and the asset documentation that proves the financial capacity.
Check Your Asset Utilization Eligibility Today.
Mbanc NMLS #38232 | Equal Housing Opportunity Lender
Credit Score Requirements
Minimum credit score: 640across all asset utilization programs.
| Credit Score | Maximum LTV | Pricing Tier |
|---|---|---|
| 720+ | 85% | Best available |
| 700–719 | 85% | Near-best |
| 680–699 | 85% | Standard |
| 660–679 | 80% | Moderate premium |
| 640–659 | 75–80% | Higher premium |
For retired or asset-rich borrowers, credit scores are often excellent — these are typically people with long credit histories, no consumer debt, and decades of on-time payment records. 720+ credit is common in this population, and it produces the best available pricing.
Asset Requirements
Minimum eligible assets:No specific floor — the assets simply need to produce sufficient qualifying income at the target DTI.
Minimum qualifying income to buy example:Target: $1,200,000 primary residence at 8.25%, 80% LTV.
Loan: $960,000. P&I: $7,205/month. Taxes/insurance: $1,800. PITIA: $9,005/month.
Required qualifying income at 50% DTI: $18,010/month.
Required eligible assets: $18,010 × 84 = $1,512,840 minimum eligible assets.Always work backwards from the target PITIA to determine the minimum assets needed.
Post-close reserve requirements(separate from qualifying assets and separate from down payment):
| LTV | Reserves Required |
|---|---|
| ≤ 80% | 6 months PITIA |
| 80.01–85% | 12 months PITIA |
| Loan above $1.5M | 12 months PITIA |
| Loan above $2.5M | 18 months PITIA |
Important:Reserves are a third pool of capital — separate from (1) down payment and closing costs and (2) qualifying assets used for income calculation. All three pools must be documented simultaneously.
Down Payment Requirements
Primary residence:Minimum 15% down (85% LTV) at 660+ credit. No PMI at any LTV.
Standard: 20% down (80% LTV).
Second home:10–15% minimum down (85–90% LTV, credit dependent).
Investment property:Typically 20–25% down. DSCR (rental income qualification) is preferred for investment property — asset utilization for investment purchases is available but less common.
DTI (Debt-to-Income) Requirements
Maximum DTI: 50%.Standard for all asset utilization programs.
Up to 55% on primary residenceunder specific documented conditions: 660+ credit, ≤80% LTV, minimum 12 months post-close reserves, residual income ≥ $4,000/month, not first-time homebuyer, loan ≤ $1,500,000.
The DTI calculation uses the asset utilization qualifying income as the denominator. For borrowers with no other obligations beyond housing, the DTI is simply PITIA ÷ asset qualifying income. A borrower with $40,000/month in asset qualifying income and $16,000/month PITIA has 40% DTI — comfortable.
Documentation Requirements
What you submit:Government-issued photo IDMost recent 2 months of statements for all eligible accounts:All pages. Account holder name visible. Account number visible. Current balance shown.
For retirement accounts:Most recent quarterly statement showing vested balance. Plan name and account number. Beneficiary designation may be requested.
For trust-held assets:Complete trust document. Confirmation of borrower’s access rights.
What you do NOT submit:Federal tax return
W-2 or pay stubs
Employer verification letter
Social Security award letter (unless supplementing with SS income)
Business bank statements (unless supplementing with bank statement income)
CPA letter
This is the leanest documentation file of any mortgage program. Most asset utilization loan files are 15–30 pages of statements plus standard borrower documents. Compare to 60–100+ pages for conventional self-employed.
Loan Amount Requirements
Minimum loan:$150,000.
Maximum loan:$4,000,000.
State overlays:Florida, Illinois, New York, New Jersey, Connecticut: maximum $2,000,000 on primary residence. National parameters on investment property.
Loan Terms
30-year fixed, 40-year fixed, 5/6 ARM, 7/6 ARM, 10/6 ARM. Interest-only available on ARM products (660+ credit).
The ARM consideration for asset-rich borrowers:Asset-rich borrowers — particularly retirees and recent business sellers — often have specific timelines in mind. A 65-year-old buying a primary residence may plan to hold it 7–10 years before downsizing or passing it to family. The 7/6 ARM (50–75 bps below 30-year fixed) captures significant rate savings for the planned hold period.
The 40-year term is rarely needed for asset utilization borrowers because their qualifying income is typically very high relative to their target PITIA — DTI is not usually a binding constraint. The DTI optimization tools (40-year, IO ARM) are more valuable for bank statement and 1099 programs where income is tighter.
The Complete Capital Calculation
On a $1,800,000 primary residence purchase, asset utilization at 80% LTV (720+ credit):
| Item | Amount |
|---|---|
| Down payment (20%) | $360,000 |
| Estimated closing costs (2.5%) | $36,000 |
| Post-close reserves (6 months × $13,800 PITIA) | $82,800 |
| Total capital required | $478,800 |
Qualifying assets must be separate from this $478,800 in deployed/reserved capital:
If borrower has $3.5M total: $3,500,000 − $396,000 (down + closing) = $3,104,000 qualifying assets.
Monthly qualifying: $3,104,000 ÷ 84 = $36,952/month.
Post-close reserves confirmed separately: $82,800 remaining after the purchase.
Frequently Asked Questions
Can retired people with no income get a mortgage?
Yes — the asset utilization program specifically serves retirees with investment portfolios, IRAs, and retirement savings. No earned income required.
What minimum assets are needed for a $1M loan?
At 8.25%, a $1M loan produces approximately $7,538/month P&I plus taxes and insurance (approximately $1,500-$2,000/month). Total PITIA: $9,038–$9,538. At 50% DTI: qualifying income needed = $18,076–$19,076/month. Eligible assets required: $1,518,384–$1,602,384.
Does the asset utilization loan have PMI?
No. PMI is never required at any LTV for Non-QM asset utilization loans.
Not a commitment to lend. Mbanc NMLS #38232 | Equal Housing Opportunity Lender
Reserve Requirements: The Often-Missed Capital Need
Asset utilization borrowers have the third most complex capital requirement structure of any Non-QM program (behind DSCR multi-property investors), because three separate capital pools are required:
Pool 1 — Down payment and closing costs:Deployed funds that go toward the purchase. Excluded from qualifying assets.
Pool 2 — Qualifying assets:The portfolio that generates the monthly qualifying income calculation. Must be verified at the time of application, net of Pool 1 deployments.
Pool 3 — Post-close reserves:Liquid assets that must remain available AFTER the purchase closes. 6–12+ months PITIA depending on LTV and loan size. This is separate from the qualifying asset portfolio (Pool 2) — but for most asset utilization borrowers, the reserve requirement is easily satisfied by the remaining portfolio after the purchase.
Example showing all three pools:Total portfolio: $4,200,000.
Pool 1 (down payment + closing): $360,000 + $40,000 = $400,000 excluded.
Pool 3 (12 months reserves at 85% LTV, $14,000 PITIA): $168,000 must remain liquid post-close.
Pool 2 (qualifying assets): $4,200,000 − $400,000 (Pool 1) = $3,800,000 available.
Monthly qualifying income: $3,800,000 ÷ 84 = $45,238/month.
Note: Pool 3 reserves come from the broader portfolio, not a separate required account. The loan officer confirms post-close reserves will be maintained at the required level.
Not a commitment to lend. Mbanc NMLS #38232 | Equal Housing Opportunity LenderNot a commitment to lend. Mbanc NMLS #38232 | FL #MLD1287 | CA DBO #60DBO45280 | TX SML | NC #L-183446 | IL #MB.6761396 | GA #48090 | TN #178934 | Equal Housing Opportunity Lender | Asset utilization loan requires 640+ credit score | Eligible assets ÷ 84 = monthly qualifying income | Programs and rates subject to changeMbanc NMLS #38232 | Equal Housing Opportunity Lender | Asset utilization mortgage: eligible liquid assets ÷ 84 = monthly qualifying income | No W-2, no tax return, no active income required | Minimum 640 credit score | 15% minimum down payment | No PMI | Up to $4,000,000 | Programs, rates, and availability subject to change without notice
Asset Utilization Requirements: The Three-Question Check
1. Credit:Do I have 640+ (660+ for 85% LTV)? If yes, proceed.
2. Assets:Do I have sufficient eligible assets after subtracting down payment/closing costs? (Minimum: target PITIA × 2 × 84)
3. Capital:Do I have down payment + closing costs + reserves as a separate pool?
If yes to all three: pre-qualify today. The asset utilization loan has the simplest documentation of any mortgage program. 15 minutes, no documents for pre-qualification.The asset utilization loan has fewer documentation requirements than almost any other mortgage program. No employer to verify. No pay stubs to produce. No Schedule C to explain. The requirements focus on what actually matters: the credit score that predicts payment behavior and the asset documentation that proves the financial capacity.
Check Your Asset Utilization Eligibility Today.
Mbanc NMLS #38232 | Equal Housing Opportunity Lender
Credit Score Requirements
Minimum credit score: 640across all asset utilization programs.
| Credit Score | Maximum LTV | Pricing Tier |
|---|---|---|
| 720+ | 85% | Best available |
| 700–719 | 85% | Near-best |
| 680–699 | 85% | Standard |
| 660–679 | 80% | Moderate premium |
| 640–659 | 75–80% | Higher premium |
For retired or asset-rich borrowers, credit scores are often excellent — these are typically people with long credit histories, no consumer debt, and decades of on-time payment records. 720+ credit is common in this population, and it produces the best available pricing.
Asset Requirements
Minimum eligible assets:No specific floor — the assets simply need to produce sufficient qualifying income at the target DTI.
Minimum qualifying income to buy example:Target: $1,200,000 primary residence at 8.25%, 80% LTV.
Loan: $960,000. P&I: $7,205/month. Taxes/insurance: $1,800. PITIA: $9,005/month.
Required qualifying income at 50% DTI: $18,010/month.
Required eligible assets: $18,010 × 84 = $1,512,840 minimum eligible assets.Always work backwards from the target PITIA to determine the minimum assets needed.
Post-close reserve requirements(separate from qualifying assets and separate from down payment):
| LTV | Reserves Required |
|---|---|
| ≤ 80% | 6 months PITIA |
| 80.01–85% | 12 months PITIA |
| Loan above $1.5M | 12 months PITIA |
| Loan above $2.5M | 18 months PITIA |
Important:Reserves are a third pool of capital — separate from (1) down payment and closing costs and (2) qualifying assets used for income calculation. All three pools must be documented simultaneously.
Down Payment Requirements
Primary residence:Minimum 15% down (85% LTV) at 660+ credit. No PMI at any LTV.
Standard: 20% down (80% LTV).
Second home:10–15% minimum down (85–90% LTV, credit dependent).
Investment property:Typically 20–25% down. DSCR (rental income qualification) is preferred for investment property — asset utilization for investment purchases is available but less common.
DTI (Debt-to-Income) Requirements
Maximum DTI: 50%.Standard for all asset utilization programs.
Up to 55% on primary residenceunder specific documented conditions: 660+ credit, ≤80% LTV, minimum 12 months post-close reserves, residual income ≥ $4,000/month, not first-time homebuyer, loan ≤ $1,500,000.
The DTI calculation uses the asset utilization qualifying income as the denominator. For borrowers with no other obligations beyond housing, the DTI is simply PITIA ÷ asset qualifying income. A borrower with $40,000/month in asset qualifying income and $16,000/month PITIA has 40% DTI — comfortable.
Documentation Requirements
What you submit:Government-issued photo IDMost recent 2 months of statements for all eligible accounts:All pages. Account holder name visible. Account number visible. Current balance shown.
For retirement accounts:Most recent quarterly statement showing vested balance. Plan name and account number. Beneficiary designation may be requested.
For trust-held assets:Complete trust document. Confirmation of borrower’s access rights.
What you do NOT submit:Federal tax return
W-2 or pay stubs
Employer verification letter
Social Security award letter (unless supplementing with SS income)
Business bank statements (unless supplementing with bank statement income)
CPA letter
This is the leanest documentation file of any mortgage program. Most asset utilization loan files are 15–30 pages of statements plus standard borrower documents. Compare to 60–100+ pages for conventional self-employed.
Loan Amount Requirements
Minimum loan:$150,000.
Maximum loan:$4,000,000.
State overlays:Florida, Illinois, New York, New Jersey, Connecticut: maximum $2,000,000 on primary residence. National parameters on investment property.
Loan Terms
30-year fixed, 40-year fixed, 5/6 ARM, 7/6 ARM, 10/6 ARM. Interest-only available on ARM products (660+ credit).
The ARM consideration for asset-rich borrowers:Asset-rich borrowers — particularly retirees and recent business sellers — often have specific timelines in mind. A 65-year-old buying a primary residence may plan to hold it 7–10 years before downsizing or passing it to family. The 7/6 ARM (50–75 bps below 30-year fixed) captures significant rate savings for the planned hold period.
The 40-year term is rarely needed for asset utilization borrowers because their qualifying income is typically very high relative to their target PITIA — DTI is not usually a binding constraint. The DTI optimization tools (40-year, IO ARM) are more valuable for bank statement and 1099 programs where income is tighter.
The Complete Capital Calculation
On a $1,800,000 primary residence purchase, asset utilization at 80% LTV (720+ credit):
| Item | Amount |
|---|---|
| Down payment (20%) | $360,000 |
| Estimated closing costs (2.5%) | $36,000 |
| Post-close reserves (6 months × $13,800 PITIA) | $82,800 |
| Total capital required | $478,800 |
Qualifying assets must be separate from this $478,800 in deployed/reserved capital:
If borrower has $3.5M total: $3,500,000 − $396,000 (down + closing) = $3,104,000 qualifying assets.
Monthly qualifying: $3,104,000 ÷ 84 = $36,952/month.
Post-close reserves confirmed separately: $82,800 remaining after the purchase.
Frequently Asked Questions
Can retired people with no income get a mortgage?
Yes — the asset utilization program specifically serves retirees with investment portfolios, IRAs, and retirement savings. No earned income required.
What minimum assets are needed for a $1M loan?
At 8.25%, a $1M loan produces approximately $7,538/month P&I plus taxes and insurance (approximately $1,500-$2,000/month). Total PITIA: $9,038–$9,538. At 50% DTI: qualifying income needed = $18,076–$19,076/month. Eligible assets required: $1,518,384–$1,602,384.
Does the asset utilization loan have PMI?
No. PMI is never required at any LTV for Non-QM asset utilization loans.
Not a commitment to lend. Mbanc NMLS #38232 | Equal Housing Opportunity Lender
Reserve Requirements: The Often-Missed Capital Need
Asset utilization borrowers have the third most complex capital requirement structure of any Non-QM program (behind DSCR multi-property investors), because three separate capital pools are required:
Pool 1 — Down payment and closing costs:Deployed funds that go toward the purchase. Excluded from qualifying assets.
Pool 2 — Qualifying assets:The portfolio that generates the monthly qualifying income calculation. Must be verified at the time of application, net of Pool 1 deployments.
Pool 3 — Post-close reserves:Liquid assets that must remain available AFTER the purchase closes. 6–12+ months PITIA depending on LTV and loan size. This is separate from the qualifying asset portfolio (Pool 2) — but for most asset utilization borrowers, the reserve requirement is easily satisfied by the remaining portfolio after the purchase.
Example showing all three pools:Total portfolio: $4,200,000.
Pool 1 (down payment + closing): $360,000 + $40,000 = $400,000 excluded.
Pool 3 (12 months reserves at 85% LTV, $14,000 PITIA): $168,000 must remain liquid post-close.
Pool 2 (qualifying assets): $4,200,000 − $400,000 (Pool 1) = $3,800,000 available.
Monthly qualifying income: $3,800,000 ÷ 84 = $45,238/month.
Note: Pool 3 reserves come from the broader portfolio, not a separate required account. The loan officer confirms post-close reserves will be maintained at the required level.
Not a commitment to lend. Mbanc NMLS #38232 | Equal Housing Opportunity LenderNot a commitment to lend. Mbanc NMLS #38232 | FL #MLD1287 | CA DBO #60DBO45280 | TX SML | NC #L-183446 | IL #MB.6761396 | GA #48090 | TN #178934 | Equal Housing Opportunity Lender | Asset utilization loan requires 640+ credit score | Eligible assets ÷ 84 = monthly qualifying income | Programs and rates subject to changeMbanc NMLS #38232 | Equal Housing Opportunity Lender | Asset utilization mortgage: eligible liquid assets ÷ 84 = monthly qualifying income | No W-2, no tax return, no active income required | Minimum 640 credit score | 15% minimum down payment | No PMI | Up to $4,000,000 | Programs, rates, and availability subject to change without notice
Asset Utilization Requirements: The Three-Question Check
1. Credit:Do I have 640+ (660+ for 85% LTV)? If yes, proceed.
2. Assets:Do I have sufficient eligible assets after subtracting down payment/closing costs? (Minimum: target PITIA × 2 × 84)
3. Capital:Do I have down payment + closing costs + reserves as a separate pool?
If yes to all three: pre-qualify today. The asset utilization loan has the simplest documentation of any mortgage program. 15 minutes, no documents for pre-qualification.The asset utilization loan has fewer documentation requirements than almost any other mortgage program. No employer to verify. No pay stubs to produce. No Schedule C to explain. The requirements focus on what actually matters: the credit score that predicts payment behavior and the asset documentation that proves the financial capacity.
Check Your Asset Utilization Eligibility Today.
Mbanc NMLS #38232 | Equal Housing Opportunity Lender
Credit Score Requirements
Minimum credit score: 640across all asset utilization programs.
| Credit Score | Maximum LTV | Pricing Tier |
|---|---|---|
| 720+ | 85% | Best available |
| 700–719 | 85% | Near-best |
| 680–699 | 85% | Standard |
| 660–679 | 80% | Moderate premium |
| 640–659 | 75–80% | Higher premium |
For retired or asset-rich borrowers, credit scores are often excellent — these are typically people with long credit histories, no consumer debt, and decades of on-time payment records. 720+ credit is common in this population, and it produces the best available pricing.
Asset Requirements
Minimum eligible assets:No specific floor — the assets simply need to produce sufficient qualifying income at the target DTI.
Minimum qualifying income to buy example:Target: $1,200,000 primary residence at 8.25%, 80% LTV.
Loan: $960,000. P&I: $7,205/month. Taxes/insurance: $1,800. PITIA: $9,005/month.
Required qualifying income at 50% DTI: $18,010/month.
Required eligible assets: $18,010 × 84 = $1,512,840 minimum eligible assets.Always work backwards from the target PITIA to determine the minimum assets needed.
Post-close reserve requirements(separate from qualifying assets and separate from down payment):
| LTV | Reserves Required |
|---|---|
| ≤ 80% | 6 months PITIA |
| 80.01–85% | 12 months PITIA |
| Loan above $1.5M | 12 months PITIA |
| Loan above $2.5M | 18 months PITIA |
Important:Reserves are a third pool of capital — separate from (1) down payment and closing costs and (2) qualifying assets used for income calculation. All three pools must be documented simultaneously.
Down Payment Requirements
Primary residence:Minimum 15% down (85% LTV) at 660+ credit. No PMI at any LTV.
Standard: 20% down (80% LTV).
Second home:10–15% minimum down (85–90% LTV, credit dependent).
Investment property:Typically 20–25% down. DSCR (rental income qualification) is preferred for investment property — asset utilization for investment purchases is available but less common.
DTI (Debt-to-Income) Requirements
Maximum DTI: 50%.Standard for all asset utilization programs.
Up to 55% on primary residenceunder specific documented conditions: 660+ credit, ≤80% LTV, minimum 12 months post-close reserves, residual income ≥ $4,000/month, not first-time homebuyer, loan ≤ $1,500,000.
The DTI calculation uses the asset utilization qualifying income as the denominator. For borrowers with no other obligations beyond housing, the DTI is simply PITIA ÷ asset qualifying income. A borrower with $40,000/month in asset qualifying income and $16,000/month PITIA has 40% DTI — comfortable.
Documentation Requirements
What you submit:Government-issued photo IDMost recent 2 months of statements for all eligible accounts:All pages. Account holder name visible. Account number visible. Current balance shown.
For retirement accounts:Most recent quarterly statement showing vested balance. Plan name and account number. Beneficiary designation may be requested.
For trust-held assets:Complete trust document. Confirmation of borrower’s access rights.
What you do NOT submit:Federal tax return
W-2 or pay stubs
Employer verification letter
Social Security award letter (unless supplementing with SS income)
Business bank statements (unless supplementing with bank statement income)
CPA letter
This is the leanest documentation file of any mortgage program. Most asset utilization loan files are 15–30 pages of statements plus standard borrower documents. Compare to 60–100+ pages for conventional self-employed.
Loan Amount Requirements
Minimum loan:$150,000.
Maximum loan:$4,000,000.
State overlays:Florida, Illinois, New York, New Jersey, Connecticut: maximum $2,000,000 on primary residence. National parameters on investment property.
Loan Terms
30-year fixed, 40-year fixed, 5/6 ARM, 7/6 ARM, 10/6 ARM. Interest-only available on ARM products (660+ credit).
The ARM consideration for asset-rich borrowers:Asset-rich borrowers — particularly retirees and recent business sellers — often have specific timelines in mind. A 65-year-old buying a primary residence may plan to hold it 7–10 years before downsizing or passing it to family. The 7/6 ARM (50–75 bps below 30-year fixed) captures significant rate savings for the planned hold period.
The 40-year term is rarely needed for asset utilization borrowers because their qualifying income is typically very high relative to their target PITIA — DTI is not usually a binding constraint. The DTI optimization tools (40-year, IO ARM) are more valuable for bank statement and 1099 programs where income is tighter.
The Complete Capital Calculation
On a $1,800,000 primary residence purchase, asset utilization at 80% LTV (720+ credit):
| Item | Amount |
|---|---|
| Down payment (20%) | $360,000 |
| Estimated closing costs (2.5%) | $36,000 |
| Post-close reserves (6 months × $13,800 PITIA) | $82,800 |
| Total capital required | $478,800 |
Qualifying assets must be separate from this $478,800 in deployed/reserved capital:
If borrower has $3.5M total: $3,500,000 − $396,000 (down + closing) = $3,104,000 qualifying assets.
Monthly qualifying: $3,104,000 ÷ 84 = $36,952/month.
Post-close reserves confirmed separately: $82,800 remaining after the purchase.
Frequently Asked Questions
Can retired people with no income get a mortgage?
Yes — the asset utilization program specifically serves retirees with investment portfolios, IRAs, and retirement savings. No earned income required.
What minimum assets are needed for a $1M loan?
At 8.25%, a $1M loan produces approximately $7,538/month P&I plus taxes and insurance (approximately $1,500-$2,000/month). Total PITIA: $9,038–$9,538. At 50% DTI: qualifying income needed = $18,076–$19,076/month. Eligible assets required: $1,518,384–$1,602,384.
Does the asset utilization loan have PMI?
No. PMI is never required at any LTV for Non-QM asset utilization loans.
Not a commitment to lend. Mbanc NMLS #38232 | Equal Housing Opportunity Lender
Reserve Requirements: The Often-Missed Capital Need
Asset utilization borrowers have the third most complex capital requirement structure of any Non-QM program (behind DSCR multi-property investors), because three separate capital pools are required:
Pool 1 — Down payment and closing costs:Deployed funds that go toward the purchase. Excluded from qualifying assets.
Pool 2 — Qualifying assets:The portfolio that generates the monthly qualifying income calculation. Must be verified at the time of application, net of Pool 1 deployments.
Pool 3 — Post-close reserves:Liquid assets that must remain available AFTER the purchase closes. 6–12+ months PITIA depending on LTV and loan size. This is separate from the qualifying asset portfolio (Pool 2) — but for most asset utilization borrowers, the reserve requirement is easily satisfied by the remaining portfolio after the purchase.
Example showing all three pools:Total portfolio: $4,200,000.
Pool 1 (down payment + closing): $360,000 + $40,000 = $400,000 excluded.
Pool 3 (12 months reserves at 85% LTV, $14,000 PITIA): $168,000 must remain liquid post-close.
Pool 2 (qualifying assets): $4,200,000 − $400,000 (Pool 1) = $3,800,000 available.
Monthly qualifying income: $3,800,000 ÷ 84 = $45,238/month.
Note: Pool 3 reserves come from the broader portfolio, not a separate required account. The loan officer confirms post-close reserves will be maintained at the required level.
Not a commitment to lend. Mbanc NMLS #38232 | Equal Housing Opportunity LenderNot a commitment to lend. Mbanc NMLS #38232 | FL #MLD1287 | CA DBO #60DBO45280 | TX SML | NC #L-183446 | IL #MB.6761396 | GA #48090 | TN #178934 | Equal Housing Opportunity Lender | Asset utilization loan requires 640+ credit score | Eligible assets ÷ 84 = monthly qualifying income | Programs and rates subject to changeMbanc NMLS #38232 | Equal Housing Opportunity Lender | Asset utilization mortgage: eligible liquid assets ÷ 84 = monthly qualifying income | No W-2, no tax return, no active income required | Minimum 640 credit score | 15% minimum down payment | No PMI | Up to $4,000,000 | Programs, rates, and availability subject to change without notice
Asset Utilization Requirements: The Three-Question Check
1. Credit:Do I have 640+ (660+ for 85% LTV)? If yes, proceed.
2. Assets:Do I have sufficient eligible assets after subtracting down payment/closing costs? (Minimum: target PITIA × 2 × 84)
3. Capital:Do I have down payment + closing costs + reserves as a separate pool?
If yes to all three: pre-qualify today. The asset utilization loan has the simplest documentation of any mortgage program. 15 minutes, no documents for pre-qualification.
If yes to all three: pre-qualify today. The asset utilization loan has the simplest documentation of any mortgage program. 15 minutes, no documents for pre-qualification.