A high net worth buyer often has real wealth but an income picture that standard underwriting reads poorly. The money sits in concentrated stock, business distributions, or investment accounts that never appear on a W-2. Underwriting software sees a low or lumpy paycheck and a large loan, and it can say no to someone who could pay cash for half the house.
A mortgage for high net worth individuals is rarely a single product. It is a match between how you document your finances and which program reads that documentation well. I’m writing this as Duane Buziak, a licensed mortgage broker in Virginia, Florida, Tennessee, and Georgia. Up Lending by Duane Buziak is a broker, not a single-shelf direct lender, so I can compare programs from 500+ wholesale lenders instead of quoting you one rate sheet. Wealth does not guarantee approval, but the right structure makes it much more likely that your profile is read correctly.
By Duane Buziak, NMLS #1110647
1. Asset Depletion Qualification
Asset depletion, sometimes called asset utilization, converts eligible liquid assets into a monthly qualifying income figure. It is a Non-QM approach: Non-QM loans fall outside the standard “qualified mortgage” box and are underwritten on alternative documentation. Investors take your eligible balance, divide it by a set number of months, and treat the result as income. That lets a retiree or a recently exited founder qualify on a portfolio instead of a paycheck.
Here is a hypothetical illustration, not a quote. A retiree has $2,400,000 in eligible assets. Using an illustrative 360-month divisor, that is about $6,667 per month ($2,400,000 / 360). Divisors differ by investor, and some use shorter periods, so this must be confirmed program by program. Now suppose $900,000 of those assets sit in retirement accounts and one investor counts them at 70%. Eligible assets become $1,500,000 plus $630,000, or $2,130,000, which yields about $5,917 per month. Same borrower, roughly $750 less monthly income, purely from haircut rules.
The common mistake is assuming every dollar counts at full value. Retirement accounts, restricted stock, and assets with penalties or vesting schedules are often discounted or excluded, and gift funds or business accounts may not qualify at all.
- Gather two months of brokerage and bank statements.
- Sort accounts into eligible, discounted, and excluded.
- Have me run the scenario across several Non-QM investors.
- Compare haircut rules and divisors, not just the rate.
What to measure: the qualifying monthly income each investor produces against the payment you need, and the resulting debt-to-income ratio (DTI). If two investors differ by $750 of income, one of them may fit your target payment and the other will not.
2. Jumbo Mortgage Selection
A jumbo mortgage is a loan above the conforming loan limit set by the Federal Housing Finance Agency. As of 2026, the baseline one-unit limit is $832,750, and it is higher in designated high-cost counties. Check your county on the FHFA conforming loan limit page. The CFPB explains jumbo loans in plain terms, and one misconception is worth clearing up: jumbo does not mean private bank only. Many wholesale investors offer jumbo programs, and pricing and reserve rules differ meaningfully among them.
The main decision is structure. Take a $1,350,000 loan for a buyer who expects to sell in about seven years. At an illustrative 6.50%, a 30-year fixed payment of principal and interest is about $8,533. At an illustrative 6.00% on a 7/6 ARM (fixed for seven years, then adjusting every six months), it is about $8,094. That is roughly $439 less per month, and about $47,000 less interest over the first 84 months, assuming the ARM holds its rate through the fixed period. Those rates are placeholders, not offers.
The common mistake is choosing the ARM without modeling the adjustment caps if the sale slips past year seven. Ask for the initial, periodic, and lifetime caps, and calculate the payment at the lifetime cap.
- Confirm the county limit so you know whether the loan is truly jumbo.
- Get quotes from multiple wholesale investors for both structures.
- Compare reserve requirements and DTI limits, which vary widely at this loan size.
- Decide your hold period honestly, then add two years of cushion.
What to measure: total interest and total payments over your expected hold period, the payment at worst-case caps, and the months of reserves required.
3. Bank Statement Loans for Business Owners
Tax returns for business owners often understate cash flow, because deductions that are smart for taxes shrink the net income that standard underwriting sees. A bank statement loan qualifies you on deposits instead. The investor totals business deposits over 12 or 24 months, applies an expense factor, and uses the result as income.
A hypothetical illustration: an owner averages $40,000 in monthly business deposits. With a 50% expense factor, qualifying income is $20,000 per month. If that same owner’s tax returns show only $9,000 per month of net income after write-offs, the bank statement path more than doubles the income used for qualifying. Investor factors vary, and some accept a CPA letter that supports a lower expense factor.
The common mistake is commingling. When personal transfers, loan proceeds, or reimbursements land in the business account, they either inflate the deposit total, which an underwriter will remove, or muddy the analysis enough to cause conditions and delays. A clean separation of accounts is the single best preparation.
- Choose 12 or 24 months of statements. Twenty-four months smooths a strong year after a weak one, while 12 captures recent growth.
- Separate business and personal accounts, and document large or unusual deposits.
- Obtain a CPA letter or expense-factor documentation if the program requires one.
- Run scenarios across several investors, since factors and seasoning rules differ.
What to measure: qualifying income under bank statements versus tax returns, and the rate premium you pay for the flexibility. Non-QM pricing typically runs above conventional pricing, so the question is whether the extra income unlocks a loan you could not otherwise get, or a better home, at a cost you accept.
4. Soft Pull Pre-Approval Comparison
Many wealthy borrowers avoid shopping because they believe it always hurts their credit. That is a misconception, and it is avoidable. NoTouch Credit Pull is my term for a soft-inquiry credit review, which lets me look at your credit profile and match programs without placing a hard inquiry on your report. Using a soft credit pull mortgage review first, you can see which programs are viable before anything touches your score. Please confirm with me what is possible at each stage for your specific scenario.
Contrast that with the typical process at large direct companies such as Rocket and Movement, where a quote generally starts with a full application and a hard pull. Here is how the two paths compare in general terms:
| Factor | Up Lending by Duane Buziak (broker) | Rocket / Movement (single-shelf direct) |
|---|---|---|
| Loan sources | 500+ wholesale lenders, compared side by side | One company’s own rate sheet and programs |
| Credit check to explore options | Soft pull via NoTouch Credit Pull; hard pull only when ready to lock | Typically a full application and hard pull to quote |
| Non-QM options (asset depletion, bank statement, DSCR) | Compared across multiple investors, each with its own guidelines | Limited to what that company offers in-house; confirm availability |
| Credibility signal | Scotsman Guide Top Originator #114; VA Broker of the Year 2024 to 2025 | Large national brand recognition and scale |
| Where it falls short | Licensed only in Virginia, Florida, Tennessee, and Georgia | Single rate sheet means less room to shop; broader state footprint |
The common mistake is assuming a soft review replaces underwriting. A hard credit pull is still typically needed before closing. The soft step simply lets you compare first and commit later, which matters when you are weighing five structures and not one.
- Contact Duane Buziak and share a basic profile: income type, assets, target price, and timeline.
- Review the program options from multiple wholesale lenders.
- Authorize the hard pull only when you are ready to lock.
What to measure: the number of viable programs identified and the rate and fee range for each, before any hard inquiry has been placed.
5. Down Payment and Reserve Structuring
Loan-to-value (LTV) is the loan amount divided by the property value, and pricing moves in tiers. Crossing from 75% to 70% LTV can improve your rate, reduce or remove mortgage insurance where it applies, and loosen reserve rules. Reserves are the liquid assets left after closing, measured in months of your full housing payment. At jumbo sizes, investors often require several months, and sometimes more than a year on larger loans.
Consider this worked example on an $1,800,000 purchase. At 25% down ($450,000), the loan is $1,350,000. At 30% down ($540,000), the loan is $1,260,000, which is $90,000 less. At an illustrative 6.50% on a 30-year fixed, the payments are about $8,533 and $7,964, a difference of roughly $569 per month. If the higher down payment also earned an illustrative 0.125-point rate improvement to 6.375%, the lower payment would be about $7,861, a gap of roughly $672. In both cases you pay $90,000 in cash today to save about $6,800 to $8,000 per year.
The common mistake is draining liquidity for the bigger down payment and then falling short on required reserves, or simply being cash-poor in a year when you need flexibility. Cash you put into the house is hard to get back out without a refinance or a line of credit.
- Request pricing at several LTV tiers, not only the one you assume.
- Document the source of funds for every large deposit.
- Season deposits where an investor requires it, so transfers made late do not trigger conditions.
- Weigh the liquidity you keep against the lower payment you gain.
What to measure: the rate and monthly payment at each LTV tier, and the months of reserves remaining after closing. If the extra down payment pushes reserves below the investor’s minimum, the tier has cost you the loan.
6. DSCR Loans for Investment Property
A debt service coverage ratio (DSCR) loan qualifies a rental property on its own income, not your personal income. The investor divides the property’s monthly rent by its monthly housing payment, known as PITIA (principal, interest, taxes, insurance, and association dues). Real estate investors with complex returns or multiple properties often find this cleaner than conventional investment financing, which leans heavily on personal DTI.
A hypothetical illustration: a rental earns $7,500 per month and carries a $6,000 PITIA. DSCR is 1.25 ($7,500 / $6,000). Investor minimums vary; some accept ratios near 1.0 and others want 1.20 or higher, and the ratio can affect pricing and required down payment.
The common mistake is leaving taxes, insurance, and HOA dues out of the payment. Suppose the true $6,000 PITIA includes $900 of those items, and you calculate against only $5,100. Your ratio looks like 1.47 instead of 1.25, and a loan that appeared safely qualified comes back short. Always build the ratio from the full PITIA.
- Get a signed lease or a market rent appraisal, since investors usually rely on one or the other.
- Calculate PITIA with real tax and insurance quotes.
- Confirm each investor’s minimum DSCR, minimum down payment, and any prepayment penalty.
- Compare several investors, because DSCR pricing spreads can be wide.
What to measure: the DSCR itself, your cash-on-cash return after the payment, and the rate premium versus conventional investment financing. If the premium is small and you save on documentation and portfolio limits, the trade usually makes sense. If it is large and you qualify conventionally, the DSCR path may not be worth it.
7. HELOC for Liquidity Without Selling Assets
A home equity line of credit (HELOC) lets you borrow against equity you already own, and draw only what you need. For a wealthy homeowner, the appeal is access to cash without selling appreciated investments and triggering a taxable event. The CFPB’s HELOC booklet is a useful read on how draw periods, variable rates, and repayment phases work.
A hypothetical illustration: a homeowner has a $1,200,000 home and a $500,000 mortgage. At an 80% combined LTV cap, maximum combined debt is $960,000 ($1,200,000 x 0.80), leaving about $460,000 of potential line. Investor limits vary. Suppose they draw $200,000. Interest-only at an illustrative 8.0% is about $1,333 per month, and at 9.5% about $1,583. Compare that with selling $200,000 of investments holding $40,000 of gains. At an assumed 23.8% combined federal rate, the tax is about $9,520. Which is cheaper depends on how long the balance stays outstanding, your return on the investments, and your tax picture, so run both.
The common mistake is treating the line as permanent cash. When the draw period ends, the payment typically resets to include principal, and a rate that floats with an index plus a margin can rise. Plan a repayment path before the first draw.
- Order an estimate of value so the combined LTV is based on a realistic number.
- Confirm the combined LTV limit and the minimum and maximum line size.
- Review the draw period, the index, the margin, and any rate caps.
- Write down how and when you will repay.
What to measure: the effective interest cost against the tax and return impact of selling investments, and the payment under a higher-rate scenario.
Where to Start: Documentation First, Then a Soft Pull, Then the Down Payment
Begin with the documentation path, because it determines everything else. Decide whether asset depletion (strategy 1) or bank statements (strategy 3) describes your finances best, and gather the statements. Next, use a soft pull mortgage broker review (strategy 4) to compare programs before any hard inquiry. Only then size your down payment and reserves (strategy 5), since the right LTV tier depends on which program you land in. Jumbo, DSCR, and HELOC choices follow from those answers. The one to skip is any strategy that does not match your actual profile, such as DSCR for a primary residence.
Ready to experience a fast, simple, and stress-free path to homeownership or refinancing? Connect with our trusted mortgage experts today and discover the right loan solution tailored to your unique financial situation, whether you’re a first-time buyer, seasoned investor, or anywhere in between. You can also call Duane Buziak directly at 804-212-8663.