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Piedmont sits in the Oakland Hills — a small, affluent city where wealth often lives in portfolios, not paychecks. Asset depletion loans are built for exactly that borrower.
HousingWire flagged that Pennymac TPO just expanded its wholesale non-QM lineup, adding asset qualifier loans. More lender competition means more options for Piedmont borrowers.
620+
Min Credit Score
2–3 Months
Asset Seasoning
Assets ÷ 60–84 mo.
Income Calculation
None
Employment Required
Non-QM
Loan Type
Lenders divide your liquid assets by a set number of months — often 60 to 84 — to calculate a monthly income figure. That number replaces a pay stub.
Eligible assets typically include checking, savings, money market, and investment accounts. Retirement accounts may qualify at a discount, usually 60-70% of the balance.
Asset depletion is a non-QM product. Retail banks rarely offer it. You need a broker with access to wholesale non-QM lenders — that's where the real options live.
We shop this program across 200+ wholesale lenders. Underwriting guidelines vary significantly. One lender's asset formula can produce a very different qualifying income than another's.
The biggest mistake we see: borrowers assume their full brokerage balance counts dollar-for-dollar. It doesn't. Equity holdings get discounted. Cash and treasuries count more.
Asset mix matters as much as asset size. A $3M portfolio heavy in illiquid real estate equity won't move the needle. Liquid, documented accounts do.
Bank statement loans work if you run a business with consistent deposits. Asset depletion works when income is minimal but the balance sheet is strong.
DSCR loans require rental income from the property itself. Asset depletion ignores the property's income entirely — your net worth does the qualifying work.
Piedmont homeowners frequently sit on significant investment portfolios and retirement accounts built over decades. Asset depletion was designed for this exact profile.
Alameda County properties often carry high price tags. Asset depletion loans go well above conforming limits — jumbo asset depletion deals close here regularly.
Checking, savings, money market, brokerage, and retirement accounts all count. Each asset type has its own discount rate applied by the lender.
It depends on the loan amount and the lender's formula. A larger loan requires more assets to generate enough imputed monthly income.
Yes. Many non-QM lenders offer asset depletion well above conforming limits. This is common for higher-priced Alameda County properties.
No. Assets stay in your accounts. Lenders use your balance to calculate income — you don't actually draw them down.
Most lenders require at least 620. Better scores get better rates. Rates vary by borrower profile and market conditions.
Sometimes. Some lenders allow trust accounts if you're a named beneficiary with access. LLC-held assets are harder — ask your broker upfront.
Asset Depletion Loans in Piedmont