When savings do the work of a paycheck
When savings, retirement accounts or investments do the work a paycheck usually does, some loans can count them as income. Samantha checks which rule fits your accounts before you apply.
The short answer
Some loans turn eligible account balances into monthly qualifying income. Fannie Mae and Freddie Mac each have a rule for it: what is left after the cash you need to close is divided by a set number of months. Non-QM lenders offer their own version, often called asset depletion, on terms that vary by lender. Which of your accounts count is the first question.
How it works
Federal ability-to-repay rules let a lender weigh your income or your assets, verified with third-party records (12 CFR 1026.43(c)(2)(i) and (c)(4)).
The agency route. These are each agency's rules, not Align's terms.
The non-QM route. Asset depletion programs set their own math: which accounts count, how much of each balance they credit, and the divisor. Terms vary by lender.
| Agency route | Non-QM asset depletion | |
|---|---|---|
| Income counted | Eligible balances, less cash to close, divided by a number of months the agency sets | Eligible balances divided by a number of months the lender sets, sometimes crediting only part of a balance |
| Documents | Statements, proof of full access, Form 1099-R for lump sums | Statements and proof of ownership; varies by lender |
| Typical tradeoffs | Purchase or limited cash-out only; loan-to-value caps | Can be priced above agency loans and can need more cash down; more room on property and loan purpose |
Before you apply
Know the tradeoffs
Working with Align
"Talk to somebody. That's it. You don't need to apply for a mortgage because you talked to me. You don't have to buy a house. We're just figuring out where you are." Send me your statements and tell me what you're trying to do. I'll check which rule fits your accounts and compare options across multiple wholesale lenders. If waiting, or a different loan, makes more sense, I'll say so.
Official sources
Program rules change. These are the official pages this page was checked against.
If yours is not here, ask it on the call. There are no dumb questions.
Not under these rules. Fannie Mae requires no minimum income history for employment-related assets, and Freddie Mac allows a borrower to qualify on assets alone. You still list any work and income on the application, and a lender can generally count a paycheck or pension alongside your assets.
The lender subtracts what you need for the purchase, then divides. Fannie Mae also subtracts any withdrawal penalty and divides by the loan's amortization term in months. Freddie Mac uses its own set number of months, which changes for loans settling from February 3, 2027. Non-QM lenders choose their own divisor and may credit only part of some balances.
Neither agency rule cited here sets up a withdrawal schedule. The math measures whether the payment fits your resources; how you pay is your decision. Fannie Mae's version applies only when a regular distribution is not already set up or is not enough.
Under the agency rules, only for a purchase or a limited or no cash-out refinance. Fannie Mae's version covers principal residences and second homes, and Freddie Mac allows investment property only under Bulletin 2026-10. Some non-QM programs allow cash-out or rental property, so ask each lender for its rules in writing.
On the agency route it is a Fannie Mae or Freddie Mac loan, priced like one, with the limits above. Non-QM asset depletion loans can be priced above agency loans and can ask for more cash at closing. Align is paid by the lender, not by a fee you pay Align.
Samantha Shelton is amazing!! She helped me get into my first home in Ferndale. The closing process was easy I was able to take care of everything without taking a day off of work. Being a first time homebuyer was stressful but she provided clear communication and true experience guidance throughout the entire process
If I could recommend Sam a million times I would. She made the process of buying our first home effortless. I’m grateful to have had her as our broker and even recommended a wonderful realtor as well!
Samantha is a rockstar! She provided expert help and guided me through the loan process in terms that were easy to understand and made the whole experience painless!
Kevin was great! Very helpful, knowledgeable and communicative throughout my refinance.
Taylor is the best. She's so sweet and has great rates. If you need a skilled loan officer, she's the one to talk to.
Everyone at Align knows what they’re doing. Ryan took the time to answer every question I had, and overall made the process as a first time home buyer stress-free.
Individual experiences. Results vary.
Tell Samantha what you are trying to do, and she will tell you what actually matters in your situation. If the answer is that you should wait, she will say that too.
Not what product you want. What you are actually trying to accomplish.
A licensed Align loan officer works out what matters most for you specifically.
Your options, the tradeoffs, and your next step. No obligation to go further.
Align Lending LLC, NMLS #2041154, is a mortgage broker. Samantha Shelton, NMLS 1647301. Equal Housing Opportunity. Licensed in Michigan, Ohio, North Carolina, Florida, Louisiana and Texas. Program guidelines on this page are general and change over time, and terms vary by lender; they are not a credit decision, a preapproval, a commitment to lend, or an offer of credit. Approval depends on your full application, the property and the lender's current guidelines.
Plenty in the bank but no paycheck? I'll show you how a lender can count it.
Samantha Shelton · Broker Owner · NMLS 1647301
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Texts go to Samantha at (248) 506-5727. 7 days a week, evenings included.