Foreign National Asset Depletion Loans for High-Net-Worth Buyers
About the Foreign National Asset Depletion Loans
Qualify based on liquid assets, reserves, or asset depletion calculations rather than monthly employment income. Instead of relying on pay stubs, tax returns, or U.S. credit, the lender evaluates the borrower's verified wealth to determine the ability to repay.
With asset depletion, eligible assets are converted into a qualifying monthly income figure by spreading their value over a set period. Typical assets include bank and brokerage accounts, investment portfolios, and other liquid funds. Assets are generally verified with statements, which must be translated into English if they are not already, and the source and seasoning of funds may be reviewed.
This can be a strong fit for high-net-worth foreign investors, retirees, or buyers with substantial savings, investment accounts, or other verifiable assets who prefer a more wealth-based underwriting approach. It may also help borrowers whose income is irregular or difficult to document but whose financial position is strong.
How This Program Works
How assets become income
The lender totals your eligible liquid assets, subtracts the funds you will use for the down payment, closing costs, and required reserves, and divides the remainder by a set number of months defined by the program. The result is treated as your monthly qualifying income.
Example: $3,000,000 in eligible assets, minus $700,000 for down payment, costs, and reserves, leaves $2,300,000. Divided over a 120-month term, that imputes roughly $19,167 of monthly income. Depletion periods and calculations vary by lender.
Illustrative example only. Actual ratios, limits, and terms vary by lender and program.
Which assets count
Cash in checking and savings accounts generally counts at full value. Stocks, bonds, and mutual funds are often counted at a percentage of their value to allow for market fluctuation. Retirement accounts may be counted at a reduced percentage, depending on access and penalties. Real estate equity, private business interests, and illiquid holdings generally do not count.
Asset seasoning and source of funds
Seasoning means the assets have been in your accounts for a minimum period, commonly 60 days or longer, as shown on consecutive statements. Recently moved or newly deposited funds must be sourced with documentation showing where they came from. This protects against borrowed or temporary funds being used to qualify.
Do funds need to move to the U.S.?
Qualifying assets can often remain in foreign institutions if properly documented and translated. However, funds for the down payment and closing costs must ultimately be transferred to the U.S. closing agent, and some lenders require a portion of reserves to be held in a U.S. account. Plan wires early and keep the transfer records.
Strategic trade-offs
Asset depletion requires substantial liquidity, and haircuts on investment and retirement accounts can reduce qualifying income. For buyers with strong rental properties, DSCR may need less documentation; for buyers with verifiable income, full documentation may price better.
Key Benefits & Ideal Borrower
No employment income required
Retirees and investors can qualify on wealth alone.
Keep assets invested
Assets demonstrate capacity; they do not need to be liquidated for income.
Supports luxury purchases
Well suited to higher-value homes and resort properties.
Foreign accounts accepted
Properly documented and translated foreign accounts can count.
Combine with other income
Some programs allow assets to supplement documented income.
Eligibility & Documentation Checklist
Borrower & Financial Documentation
- Two to three consecutive months of statements for all qualifying accounts (or more for seasoning)
- Brokerage, investment, and retirement account statements with ownership details
- Source-of-funds documentation for recent large deposits or transfers
- Certified English translations and USD conversion of all statements
- Passport, plus international credit references where the program requires them
- Proof of wire transfer for down payment and closing funds
Property & Transaction Requirements
- Second home or investment property
- Eligible types: single-family, townhome, 2–4 unit, eligible condos
- Appraisal and title review
- Full PITIA used in debt-to-income ratio against imputed income
- Insurance including flood and windstorm where required
- HOA and condo project review where applicable
Asset Depletion FAQs
Program disclaimer: Final eligibility, documentation requirements, eligible asset types, and terms vary by program and are subject to lender review.
Disclaimer
Legal & Licensing Disclosure: All loans are subject to credit approval and property qualification. Foreign national programs are non-QM portfolio loans with lender-specific overlays; down payment, LTV, reserves, and documentation requirements vary by borrower category, program, and property. Government-backed loans (FHA, VA, USDA) are not available to true foreign nationals. Rates and programs subject to change without notice. Equal Housing Lender. © 2026 1st Florida Lending Corp. All rights reserved.