Question 1

What assets qualify for asset depletion income?

Accepted Answer

Checking, savings, and brokerage accounts typically qualify in full. Retirement accounts usually count at 70%, and illiquid assets like real estate equity are excluded.

Question 2

Do I need any income at all to qualify?

Accepted Answer

Not necessarily. Some lenders use assets alone. Others want to see at least some income stream, so requirements vary by lender.

Question 3

How much do I need in assets to qualify?

Accepted Answer

It depends on the loan amount. A $600,000 loan over 360 months needs your depleted monthly figure to cover principal, interest, taxes, and insurance.

Question 4

Is asset depletion available for Amador City properties?

Accepted Answer

Yes. Non-QM lenders assess the borrower's financial profile, not just the property location. Rural Amador County properties are eligible.

Question 5

Are asset depletion loan rates higher than conventional rates?

Accepted Answer

Yes. Non-QM loans carry higher rates than conventional programs due to the added risk profile. Rates vary by borrower profile and market conditions.

Question 6

Can I use an asset depletion loan on a second home?

Accepted Answer

Yes. Many non-QM lenders allow asset depletion on second homes and investment properties, though down payment requirements may be higher.

Asset Depletion Loans in Amador City, CA