Whether you are downsizing, buying a second home or moving to Virginia after selling a business, your balance sheet may say more about your ability to pay than your tax return does. Asset-based mortgages look at liquid savings and investments rather than monthly earnings. A loan officer can compare a non-QM asset depletion scenario with any agency asset-based option you might fit for your Virginia purchase. Accounts that are pledged or hard to sell usually will not count, so set those aside when you add things up.
Call to talk with a licensed loan officer. Programs vary by borrower, property and investor.
Mortgage lenders, brokers and loan originators serving Virginia are licensed by the Virginia State Corporation Commission, Bureau of Financial Institutions. 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 Virginia
Counties with the most owner households headed by someone 65+:
| County | Owner households headed by someone 65+ |
|---|---|
| the City of Lexington | 61.6% |
| the City of Williamsburg | 51.7% |
| the City of Emporia | 47.4% |
| the City of Danville | 45.7% |
| Halifax County | 44.7% |
| Washington County | 44.0% |
| Franklin County | 44.0% |
| Henry County | 43.3% |
| the City of Bristol | 43.3% |
| Tazewell County | 42.6% |
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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 Virginia
- Non-QM lenders in Virginia Beach
- Non-QM lenders in Richmond
- Non-QM lenders in Chesapeake
- Non-QM lenders in Norfolk
- Non-QM lenders in Arlington
- Non-QM lenders in Roanoke
- Non-QM lenders in Newport News
- Non-QM lenders in Fredericksburg
- Non-QM lenders in Alexandria
- Non-QM lenders in Hampton
- Non-QM lenders in Lynchburg
- Non-QM lenders in Charlottesville
- Non-QM lenders in Portsmouth
- Non-QM lenders in Suffolk
- Non-QM lenders in Blacksburg
- Non-QM lenders in Williamsburg
- Non-QM lenders in Winchester
- Non-QM lenders in Centreville
- Non-QM lenders in Dale City
- Non-QM lenders in Harrisonburg
- Non-QM lenders in Reston
- Non-QM lenders in Staunton
- Non-QM lenders in Leesburg
- Non-QM lenders in Ashburn
- Non-QM lenders in Tuckahoe
- Non-QM lenders in McLean
- Non-QM lenders in Danville
- Non-QM lenders in Lake Ridge
- Non-QM lenders in Annandale
- Non-QM lenders in Burke
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 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.
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.
Other non-QM options in Virginia
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 · Virginia non-QM overview
- Census ACS 2020-2024, table B25007