The Right Home For This Chapter.
Loans from $150,000 to $3.5 Million, qualified using documented retirement and investment assets or standard income documentation, for the purchase of your next primary residence.
Quick answer
Saxton Mortgage does. At least one program we offer lets you qualify on documented assets instead of employment income, on loans from $150,000 to $3,500,000. On that program, the asset route requires at least a 700 credit score, is for an owner-occupied home only, and does not allow cash out.
A smaller home. A simpler picture.
Buy a smaller home qualifying on savings and investments instead of a paycheck.
- $150,000 to $3.5 Million, assets or income
- Retirement and investment accounts considered
- Empty nesters and retirees welcome
- One program turns net assets into income over 84 months
- Single-level homes, condominiums, and townhomes
- Accounts need three months of seasoning before they count
- Financing to 85% of value on the asset based route*
Purchase your next primary residence
Qualify using documented retirement and investment assets
Standard income documentation also accepted
Single-family, condo, townhome, and PUD eligible
Second homes qualify on assets at one program
Guidance on whether to sell first or buy first
What is the Saxton Downsizing Loan?
A purchase loan for the home that fits your life now
The Saxton Downsizing Loan is built for homeowners moving into a smaller primary residence, with the option to qualify from documented assets rather than employment income.
Qualify using documented retirement and investment assets, or through standard income documentation if you are still working.
Use it to purchase your next primary residence or refinance the one you are in, on single-family homes, planned unit developments, townhomes, and warrantable condominiums. Loan amounts run from $150,000 to $3.5 Million.
Why choose the Saxton Downsizing Loan?
Built for homeowners moving into a home that fits the life they have now.
Empty Nesters
Move from a house you have outgrown into one that fits how you live today.
Retirees
Qualify using documented retirement and investment assets rather than employment income.
Relocating Near Family
Buy closer to children or grandchildren without restarting your financial life.
Single-Level Living
Finance a ranch, villa, or condominium designed for fewer stairs and less upkeep.
Lower Maintenance
Trade acreage and repairs for a smaller footprint and a simpler routine.
Equity Rich, Income Modest
Retired buyers often hold substantial equity and modest documented income, and there are qualifying routes built for exactly that.
Hear From Homeowners Like You
Frequently Asked Questions
Straight answers about downsizing into a smaller home.
Saxton Mortgage does. At least one program we offer lets you qualify on documented assets instead of employment income, on loans from $150,000 to $3,500,000. On that program, the asset route requires at least a 700 credit score, is for an owner-occupied home only, and does not allow cash out.
Yes, a downsizing purchase can qualify on assets alone at one program; when every dollar of your income comes from savings, it spreads your net qualified balance across 84 months. Bank balances count in full, listed stocks and bonds at 80 percent, and vested retirement funds at a reduced share*.
No, though while the sale is pending you qualify carrying both house payments, unless the buyer’s signed contract is in your file and their loan contingencies are cleared. At one program, a home that is only listed can be left out with a 700 score, six extra months of reserves, enough equity and a primary-home purchase*.
Single-family homes, PUDs, duplexes through fourplexes and warrantable condos are eligible at one asset-depletion program, and some non-warrantable condos qualify after review. Manufactured, modular and log homes, rural properties and parcels over 10 acres are not*.
No, asset-based qualifying also works for second-home or rental purchases at one program, which publishes an asset-depletion matrix for those occupancies whose floor is a 680 score. Its primary-residence grid reaches $3,000,000, while second homes and investments top out at $2,500,000*. Learn more about second home.
Not with asset-based qualifying at two programs we use: one allows its asset-based option only on purchases and rate-and-term refinances, and another marks cash-out as not available on its asset-depletion matrix. A downsizing purchase does not need cash-out, and a later cash-out refinance can use another documentation type*.
Yes, an adjustable-rate option sits beside fixed-rate loans at one program that accepts asset-depletion income, which also has an interest-only feature. Your asset-based income still has to hold your debt-to-income within that program’s cap of up to 55%*.
Gather three months of statements for checking, savings, brokerage and retirement accounts, since one program wants that much seasoning*. A loan officer then runs the asset calculation alongside your current home’s sale timing and gives you a pre-qualified range.
Find out what you qualify for
Whether you’re buying smaller or refinancing where you are, there’s likely a Saxton Downsizing Loan option that fits. Get a fast, no-obligation pre-qualification today.
Get Pre-Qualified- Consumer Financial Protection Bureau, buying a house: tools and resources for homebuyers
- Consumer Financial Protection Bureau, mortgages
*Loan amounts, rates, terms, and down payment requirements are subject to credit approval, income and asset verification, and program eligibility. Down payment limits vary by occupancy, credit score, and documentation type. Not all applicants will qualify. Saxton Mortgage, LLC is an Equal Housing Lender.