Why Florida Borrowers Use Asset Depletion Mortgages
Florida is a top destination for retirees, entrepreneurs, and real estate investors—many of whom are asset-rich but income-light. Whether you're buying a waterfront condo in Miami or a rental in Tampa, a Florida asset depletion mortgage lets you leverage your savings, not your paycheck, to qualify for financing.
This is especially powerful in a state with no personal income tax and a booming housing market.
What Is a Florida Asset Depletion Mortgage?
An asset depletion mortgage allows you to qualify for a loan based on your liquid assets—checking, savings, investment accounts, or retirement funds—instead of traditional income like W-2s or tax returns.
Lenders "deplete" or amortize your assets over a set period (usually 60 to 120 months) and treat the result as your monthly qualifying income.
For example:
- $960,000 in assets / 120 months = $8,000/month of qualifying income
This figure is then used in standard mortgage underwriting calculations.
