/PROGRAM
Jumbo and asset-depletion mortgages
An automated pre-approval hits the conforming ceiling and tells you to bring more cash to the table. Income-only underwriting never asks about the balance sheet, so the assets sitting right there never get counted.
- Scope
- Available as a business-purpose loan in any state; the consumer version I originate in select states. Outside those states I can introduce you to a licensed colleague at NEXA Mortgage, LLC.
- Best if
- the price or the balance sheet outruns a conforming file.
- Not for
- a conforming-size loan a standard full-doc file already covers.
- First step
- Send the purchase price, the market, and a picture of the income or assets you would want considered.
Two things in one lane: loans above the conforming limit, and loans that qualify on liquid assets instead of tax-return income. For buyers whose purchase price or balance sheet outruns a standard conforming file.
Who a jumbo or asset-depletion loan is for
Move-up buyer in a high-cost pocket
Good credit and solid income, bidding above the conforming limit for the county.
Asset-rich investor, income-light on paper
Depreciation and write-offs suppress taxable income, but the brokerage and retirement balances are real.
Retiree on a portfolio, not a paycheck
Substantial accounts, little ongoing W-2 or 1099 income, and no pay stubs to hand anyone.
Self-employed jumbo buyer
Strong cash flow and a healthy business, with a return that reads small after deductions.
New-to-practice physician or attorney
Strong future income, thin savings, often heavy student debt, and a closing date tied to a start date.
How a jumbo or asset-depletion loan works
- 01
Send the purchase price, the market, and a picture of the income or assets you would want considered.
- 02
Above the conforming limit the file moves to a jumbo investor with its own guidelines, not automatically worse ones.
- 03
On an asset-depletion file, qualifying is calculated on documented liquid assets. Qualifying on a balance is not the same as withdrawing from it.
- 04
You document only what is actually used to qualify.
Questions about a jumbo or asset-depletion loan
My bank’s app said I don’t qualify for that much.
That’s usually an automated conforming calculator hitting its limit, not a real underwriting answer. I’d run the full picture, including the jumbo lane, before you treat that number as final.
I don’t want to touch my retirement accounts.
Qualifying on the balance is not the same as withdrawing from it. Nothing is liquidated to make the file work. I can show you how the arithmetic runs, and it varies by lender and program.
My CPA said my income is too low to qualify.
That’s true for a standard doc type. Alternative-documentation jumbo options read your cash flow differently. Worth checking eligibility before assuming you’re out.
I don’t have two years of tax returns at this income level yet.
That’s exactly what professional and physician-focused jumbo programs are built to handle. Eligibility varies by lender and specialty.
I don’t want to disclose all my accounts.
You’d only need statements for whatever we’d actually use to qualify, not your whole financial life. Happy to walk through what’s needed before you share anything.
Related reading
All guides →Freddie Mac rewrites how assets convert into qualifying income
Bulletin 2026-10 reworks Guide Section 5307.1. The same balance now supports more qualifying income, and investment properties become eligible.
Industry updateHow asset depletion turns a portfolio into qualifying income
Qualifying on a balance is not the same as spending it. That distinction is the whole product.
Myth: self-employed borrowers need two years of tax returns to qualify
For one lane of lending that is broadly true. It is not the only lane, and the returns are often the worst evidence of what a business actually earns.
Send this scenario
Tell me the property and the plan and I’ll come back with what’s eligible. Eligibility and terms vary by scenario.