Question 1

What assets qualify for asset depletion loans?

Accepted Answer

Checking, savings, brokerage, and money market accounts typically qualify. Retirement accounts may qualify at a reduced value.

Question 2

Can I use stock holdings as income?

Accepted Answer

Yes, vested stocks in a brokerage account usually count. Unvested RSUs generally do not qualify as liquid assets.

Question 3

Do I need any employment history?

Accepted Answer

No. Asset depletion is designed for borrowers with no active income. Assets alone support the qualification.

Question 4

How much do I need to qualify in Union City?

Accepted Answer

It depends on the loan amount and the lender's depletion formula. More assets mean higher qualifying income.

Question 5

Are rates higher than conventional loans?

Accepted Answer

Yes. Non-QM loans carry a rate premium over conventional. Rates vary by borrower profile and market conditions.

Question 6

Can I buy a second home with asset depletion?

Accepted Answer

Yes. Asset depletion works for primary residences and second homes. Terms may differ by property type.

Asset Depletion Loans in Union City, CA