Retired Surgeon Qualifies Using Investment Portfolio

Dr. Richard had sold his practice two years earlier. He had $6.2M in a Schwab brokerage account, a paid-off condo in Westwood, and zero interest in going back to work.

He found a property in Pacific Palisades. $3.4M. He wanted 30% down and to finance the rest.

His financial advisor sent him to three banks. All three got the same answer: retired, no W-2, no pension, just investments. All three passed.

One banker actually told him to consider a smaller purchase.

Asset depletion is designed for exactly this person. We took $6.2M in eligible assets, divided by 360 months, and arrived at a deemed monthly income of $17,222. Combined with dividend income, total qualifying was over $20,000 a month.

On a $2.38M loan, that qualified comfortably. He closed in 31 days. Nobody asked him to go back to work.

If you have spent 30 years building wealth, your assets should be able to buy you a home.