Program

Asset Utilization & Asset Depletion Loans

Asset-Based

For borrowers whose wealth is in their accounts rather than their paycheck. Liquid assets are converted into a monthly qualifying income figure — no employment, no income documents, no tax returns.

Stocks · Bonds · CashNo Employment NeededNo Income Docs

At a glance

Loan amounts
To $5M
Max LTV
80%
Min FICO
600
Assets counted
Cash · stocks · bonds · retirement
Eligible assets are converted into monthly qualifying income based on the applicable program. The assets remain in the account — no actual depletion required.

What Is an Asset Utilization Loan?

An asset utilization loan (also called asset depletion) is a Non-QM mortgage that converts a borrower's liquid assets into a monthly qualifying income figure — no employment, income documents, or tax returns required. The assets stay invested; they are used for the calculation only.

Who Are Asset Utilization Loans For?

Retirees and early retirees living on investments
Business owners between ventures or after a sale
Borrowers with significant inheritances, settlements, or stock-option liquidity
High-net-worth buyers who would rather not document income at all
“You don't need a paycheck to qualify. Your balance sheet is the income.”
How to pitch it to your borrower

How Does an Asset Utilization Loan Work?

What the file needs — and how we get to a number.

01Eligible assets

Checking, savings, money market, stocks, bonds and eligible retirement assets. Other eligible assets may vary by program.

02The calculation

Total eligible assets, less funds to close, divided by the program term = monthly income. The assets stay invested.

03Documentation

Asset statements document eligible funds, with the required history varying by program.

04Property

Available for primary homes, second homes and investment properties, with options varying by program.

Asset Utilization Loan Requirements

Eligible assets may include checking, savings, money market, stocks, bonds and vested retirement accounts
Asset documentation requirements vary by program
Eligible assets are converted into monthly qualifying income based on the applicable program
FICO from 600, depending on program; loan amounts up to $5M through Starry Super Jumbo
Available for primary homes, second homes and investment properties

Requirements follow the current Sky TPO matrices and guidelines; see the matrix for each suite below.

Sky TPO Asset Utilization Loan Programs

Each suite sets the occupancy, loan amounts, and matrix — pick the one that fits the property.

Sunny

Primary & Second Homes · Full/Alt-DocAlt doc asset qualifying — primary & second homes.
Alternative Documentation — Bank Statement, P&L, 1099, WVOE & Asset UtilizationMatrixGuidelines
ITIN — Full & Alternative DocumentationMatrixGuidelines

Breezy

Investment · DSCR & Full/Alt DocAlt doc asset qualifying for investment properties.
Alternative Documentation — Bank Statement, P&L, 1099, WVOE & Asset UtilizationMatrixGuidelines

Sky Plus

Closed-End SecondsAn extra boost of equity: standalone seconds, first-lien rate untouched.
Full & Alternative Documentation — Closed-End SecondsMatrixGuidelines

Passport

Foreign NationalForeign national asset qualifying — second homes & investment.
Full & Alternative Documentation — Foreign NationalMatrixGuidelines

Starry

Super JumboSuper jumbo asset utilization on primary homes — to $5M.
Full & Alternative Documentation — Super JumboMatrixGuidelines

Real-World Asset Utilization Scenarios

Scenario 01

Retired couple downsizing

$2.4M in brokerage and IRA accounts, no employment income. Eligible assets are converted to qualifying monthly income to support a $900K purchase at 70% LTV.
Scenario 02

Founder after an exit

Sold his company, $6M liquid, no current income. Super jumbo purchase at $3.2M through Starry.

Frequently Asked Questions About Asset Utilization Loans

What is an asset utilization loan?

A mortgage that qualifies on liquid assets converted to income — no employment or income documents.

What minimum assets are needed?

Enough eligible assets, after funds to close, to produce a qualifying payment over the program term; your account executive can size it from the statements.

Do I have to sell investments?

No. The assets are used for the calculation only; they stay invested.

Do retirement accounts count?

Yes. Eligible vested retirement assets may be used, subject to program requirements.

Can assets be combined with other income?

Yes — asset-based income can supplement W-2, 1099, or bank-statement income on the same file.

Have an Asset Utilization scenario?

Price it in Sky Port in minutes or send it to the Scenario Desk.