Retirees and other Connecticut residents who live on savings rather than a salary often find that a standard mortgage application has nowhere to put their wealth. An asset depletion loan may let you qualify by turning eligible accounts into a monthly income figure, either on its own or added to a pension or Social Security. Programs vary by borrower, property and investor, and agency options may apply too. Start by listing each account you hold, who owns it and whether you can access the funds, since those details decide what counts.
Call to talk with a licensed loan officer. Programs vary by borrower, property and investor.
Mortgage lenders, brokers and loan originators serving Connecticut are licensed by the Connecticut Department of Banking, Consumer Credit Division. Non-QM loans are made by the same licensed lenders and brokers, so you can confirm any company's or loan officer's license on NMLS Consumer Access before you apply.
Where the numbers point in Connecticut
Counties with the most owner households headed by someone 65+:
| County | Owner households headed by someone 65+ |
|---|---|
| the Northwest Hills Planning Region | 35.6% |
| the Southeastern Connecticut Planning Region | 35.2% |
| the Lower Connecticut River Valley Planning Region | 34.5% |
| the South Central Connecticut Planning Region | 34.1% |
| the Naugatuck Valley Planning Region | 32.6% |
| the Greater Bridgeport Planning Region | 32.1% |
| the Western Connecticut Planning Region | 32.1% |
| the Capitol Planning Region | 32.0% |
Start your application in a few minutes. A licensed loan officer reviews it and follows up with your options.
- Takes a few minutes
- Reviewed by a licensed loan officer
- No obligation to proceed
Prefer to talk first? Call (888) 508-8976. Applying is not a loan approval or commitment to lend; programs vary by borrower, property and investor. ClearPoint Mortgage Advisors, NMLS #173855. Properties in FL, NY, NJ, PA, CT and VA only.
Local pages in Connecticut
- Non-QM lenders in Bridgeport
- Non-QM lenders in Hartford
- Non-QM lenders in New Haven
- Non-QM lenders in Norwich
- Non-QM lenders in Waterbury
- Non-QM lenders in Danbury
- Non-QM lenders in Stamford
- Non-QM lenders in Norwalk
- Non-QM lenders in New Britain
- Non-QM lenders in Bristol
- Non-QM lenders in Meriden
- Non-QM lenders in West Haven
- Non-QM lenders in Milford
- Non-QM lenders in Milford city
- Non-QM lenders in Middletown
- Non-QM lenders in Shelton
- Non-QM lenders in Torrington
- Non-QM lenders in Naugatuck
- Non-QM lenders in New London
- Non-QM lenders in Ansonia
- Non-QM lenders in Wallingford Center
- Non-QM lenders in Willimantic
- Non-QM lenders in Storrs
- Non-QM lenders in Derby
- Non-QM lenders in Conning Towers Nautilus Park
- Non-QM lenders in Jewett City
- Non-QM lenders in Oakville
- Non-QM lenders in Thompsonville
- Non-QM lenders in Riverside
- Non-QM lenders in Kensington
Common questions
What is an asset depletion loan?
An asset depletion loan is a mortgage that qualifies you based on your savings and investments rather than employment income. The lender verifies eligible assets, subtracts what you need to close, and divides the rest by a number of months the program sets to create a monthly income figure. You may qualify even with little or no regular income, subject to credit approval.
Do Fannie Mae and Freddie Mac allow asset depletion?
Both have their own asset-based qualifying guidance. Fannie Mae allows certain employment-related assets, such as retirement accounts and severance, to be used as qualifying income. Freddie Mac allows certain retirement, bank and securities accounts to be used as a basis for repayment. Both carry conditions on property, transaction and assets, and they tend to be narrower than non-QM programs.
Do I have to withdraw money every month?
No. The calculation measures your capacity to pay from assets; it does not require you to draw down your accounts on a schedule. You can pay the mortgage from any source, including investment returns, a pension or Social Security. The lender simply wants confidence that your assets are large enough to support the payment over time.
Other non-QM options in Connecticut
Bank statement loansNon-QM lendersSelf-employed1099 loansP&L loansNo-doc / stated incomeNew self-employedITIN loansForeign nationalNon-warrantable condoBank statement HELOCInterest-only
Related guides
- Asset Depletion Loans Explained: Qualifying With Savings and Investments
- What Is a Non-QM Loan?
- How to Compare Non-QM Loan Offers: Loan Estimates, Features and Fit
Asset Depletion Mortgages overview · Connecticut non-QM overview
- Census ACS 2020-2024, table B25007