Fontenot MortgageOdette Fontenot · Mortgage broker
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The loans

The maths

Odette

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Savings converted into income

Asset depletion

You have the money but not the paperwork. A depletion loan turns liquid assets into a monthly income figure.

A small set of keys lying on a wooden table.
01Who this is for
  • Someone who has just sold a business and has not yet started the next one
  • Retired or semi-retired buyers with large brokerage balances and small taxable income
  • Sellers between houses with a large amount of cash sitting still
02What it needs from you
  • Two to three months of statements for every account being counted
  • Proof the assets are yours, unencumbered, and available without penalty
  • Retirement accounts are usually discounted, and sometimes only counted after 59½
  • No employment income needed — that is the point of the product
03What it costs you — the honest part
  • Only a fraction of the balance counts. A haircut on retirement and market-exposed accounts is normal.
  • The divisor is programme-set — the same balance can produce different monthly income at two lenders.
  • Money used for the down payment is spent, and cannot also be depleted as income.
04How a file like this moves

  1. Total the eligible accounts

    Cash, brokerage, and sometimes retirement. Each gets its own treatment.

  2. Subtract what you are spending

    The down payment, closing costs and required reserves come out before anything is divided.

  3. Divide, and compare divisors

    The gap between a 60-month and a 120-month divisor is the difference between qualifying and not.

Ask Odette

Tell me what you are working with

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One of email or telephone is enough.

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The next step

One person reads this. That person is me.

Tell me roughly how you get paid and what you are trying to buy. No documents, no application, no credit pull to have the first conversation.

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