Asset Depletion loan

Short answer

You have several viable Asset-Qualifier options today. Best immediate fits: HomeXpress CoreX (Asset Xpress/Asset Assist) and LoanStream Core NonQM (Asset Utilization). American Heritage Lending’s Rising Star also looks promising pending one FICO-floor confirmation. Others are ineligible at 638 FICO.

Best-fit programs

Lender	Program	Why it works	Key limits	Notes
HomeXpress	CoreX – Asset Xpress or Asset Assist	Min FICO 600 (you’re 638). Allows asset-qualifier; 75% LTV OK	OO purchase up to 90% LTV; reserves: none at ≤75% LTV; DTI handled by asset method	PrimeX needs 660 FICO, so CoreX is your lane [3] [2] [5]
LoanStream	Core NonQM using Alt Doc – Asset Utilization	Min FICO 600; max LTV 75% for 600–639 FICO (you’re 74.93%)	Often 0 months reserves at ≤75% LTV; assets seasoned 3 mo	Can qualify on residual-assets method (may not require DTI) [1] [69] [78]
American Heritage Lending	Rising Star Credit (Asset Qualifier)	Program permits Asset Qualifier and ~85% LTV	Need to confirm exact FICO floor for Rising Star at 75% LTV	All Star min 660 (not you); Rising Star likely works—confirm FICO floor [5] [40]

Your “500 months” of reserves is far beyond any requirement and is acceptable. Excess reserves typically strengthen approval and don’t hurt pricing ^[71].

Near-miss or ineligible (why)

• HomeXpress PrimeX: Min FICO 660; you’re 638 ^[3].
• Newrez: SmartEdge AQ needs 700 FICO (ineligible). Smart Series Platinum AQ might work at ~75% LTV, but we must confirm its FICO floor for AQ at 638—want me to pull that matrix? ^{[2] [33]}.
• Deephaven: Asset Utilization allowed only in Expanded Prime with 720 FICO (ineligible) ^{[86] [1]}.
• LendSure: Asset Qualifier and asset-depletion tiers generally require ≥700 FICO (ineligible) ^[1].
• The Loan Store: Asset Utilization requires 660 FICO (ineligible at 638) ^{[8] [19]}.
• Champions Funding: Super Jumbo requires 720+ and no pure Asset Qualifier; ITIN program needs ITIN and ≥640 FICO (ineligible) ^{[13] [1]}.
• Change Wholesale: Asset Depletion paths require higher FICO (typically 700), or programs that fit 638 don’t allow Asset Depletion (ineligible) ^[1].

What I need to lock one in

• Approximate total verifiable liquid/eligible assets and where they’re held (personal vs. retirement vs. business), and seasoning.
• Preference on interest-only vs. amortizing.
• Any potential subordinate financing planned (most AQ programs limit/condition this).

Want me to:

1. Size the exact asset amount needed for HomeXpress CoreX Asset Xpress vs. Asset Assist based on a quick PITI estimate, or
2. Confirm AHL Rising Star and Newrez Platinum FICO floors today and return with the precise grids?

Short answer

You qualify today with HomeXpress CoreX (Asset Xpress/Asset Assist) and LoanStream Core NonQM (Asset Utilization). All others are ineligible at 638 FICO.

Programs that work (Owner‑Occ, TX SFR, $1,000,000 loan, 58.82% LTV, FICO 638)

Lender	Program	Eligibility fit	Min FICO	Max LTV	Loan cap	Reserves	Asset seasoning	Notes
HomeXpress	CoreX – Asset Xpress / Asset Assist	Eligible	600	85% (Asset Xpress); 80% (Asset Assist)	$3,000,000 (Assist capped at $1,000,000)	0 mo ≤75% LTV	60 days	PrimeX needs 660 (not you). IO available. You’re right at the $1M cap for Asset Assist [5][2][3]
LoanStream	Core NonQM using Asset Utilization	Eligible	600	80% (for 600–639)	≤ $2,000,000 (AU)	0 mo ≤75% LTV; 3 mo >75%	3 months	Uses % of eligible assets; TX purchases OK [1][1][77]

Near‑miss / Not eligible (why)

• American Heritage Lending: Owner‑occ Asset Qualifier shows 660 min FICO; you’re 638 ^[1].
• Angel Oak: AQ/Asset Depletion need 700 FICO ^[1].
• Change Wholesale: Asset Depletion paths require ≥660–700 depending on program; 638 ineligible ^[3].
• Deephaven: AQ only in Expanded Prime with ≥660 FICO ^[1].
• LendSure: Asset Qualifier/Depletion require 700 FICO ^[2].
• Newrez: SmartEdge AQ needs 700; non‑AQ ≥660. Smart Series/SmartVest need matrix check, but likely >638 for AQ ^[2].
• The Loan Store: Asset Utilization allowed, but min FICO 660 ^[8].
• Champions Funding: Super Jumbo needs 720; ITIN not applicable ^[13].

Next steps (fastest path)

• Share your asset breakdown (balances, account types, where held, and seasoning) so I can confirm Asset Xpress vs Asset Assist vs LoanStream AU calculations and show exact required assets.
• Preference on interest‑only vs fixed? (HomeXpress CoreX offers IO at your LTV ^[2].)

Want me to run the asset calculation for both options and estimate pricing?

Short answer

With a 667 FICO and 59% LTV on a $1,000,000 owner‑occupied TX purchase using Asset‑Qualifier/Asset‑Depletion, you’re eligible with HomeXpress (CoreX/PrimeX), Deephaven (Expanded Prime – Asset Utilization), and The Loan Store (Flex NQM/Bank Statement with AU). LoanStream AU is not eligible at 667 FICO; several others need matrix confirmation.

Programs that work now

Lender	Program	Why it fits	Key limits/notes
HomeXpress	CoreX – Asset Xpress / Asset Assist	Min FICO 600 (you’re 667); LTV well under caps; Asset Assist allowed and capped at $1,000,000 loan	Asset Xpress max LTV 85%; Asset Assist max LTV 80% and loan cap $1,000,000 (you’re at cap) [5][3]
HomeXpress	PrimeX – Asset Xpress	Min FICO 660 (met); LTV 59% within program	Max LTV for Asset Xpress effectively up to 85% [5][3]
Deephaven	Expanded Prime – Asset Utilization	AU allowed on OO purchase; 59% LTV and $1MM fit; FICO 667 OK	Max LTV 80%; typical reserves ~6 months; AU uses assets/84 with asset eligibility/seasoning rules [1][86]
The Loan Store	Bank Statement / Flex Income Non‑QM (AU)	AU allowed on OO purchase; FICO 660+ tier fits; 59% LTV within 80% AU cap	AU calc over 84 months; confirm exact reserves; primary purchase at $1MM with 660 FICO is eligible [8][20]

Possible/need confirmation

• American Heritage Lending (All Star/Rising Star – Asset Qualifier): OO Asset‑Qualifier is allowed; your 59% LTV should fit, but need exact FICO floor/tiers at $1MM. Bridge Star needs >680 FICO (you’re close) and is a bridge product, not needed here ^[1][101].
• Change Wholesale Alt Doc Express: Prime/Advantage require 700 FICO (ineligible); Express may fit at 667—need FICO/reserve confirmation ^[3].
• Newrez: SmartEdge AQ needs 700 (ineligible); Smart Series/SmartVest may allow assets at 667—need exact matrix pull ^[2].

Not eligible

• LoanStream Core NonQM – Asset Utilization: AU requires 700 FICO; at 667 it’s ineligible ^[1].
• LendSure Asset Qualifier: needs 700 FICO ^[1].
• Angel Oak Asset‑Qualifier/Depletion: needs 700 FICO ^[1].
• Champions Super Jumbo: needs 720 FICO; ITIN program not applicable ^[13].

Next steps

• Share your liquid/retirement/brokerage asset totals and seasoning so I can size required assets and recommend the best of HomeXpress vs Deephaven vs The Loan Store for pricing and ease.
• Want me to:
  1. Lock in with HomeXpress (CoreX/PrimeX) and show required assets, or
  2. Confirm AHL/Change/Newrez matrices to expand options further?