Question 1

What assets can I use to qualify?

Accepted Answer

Cash, brokerage accounts, and bonds typically qualify. Retirement accounts may count at 60-70% of value depending on your age and the lender.

Question 2

Do I need any income at all?

Accepted Answer

No traditional income is required. Your assets are converted to a monthly income figure. That number is what lenders use to qualify you.

Question 3

Can I use this for a second home in Angels Camp?

Accepted Answer

Yes. Asset depletion works for primary residences and second homes. Confirm the specific property type is eligible with your lender before applying.

Question 4

How much in assets do I typically need?

Accepted Answer

It depends on the purchase price and loan term. Divide the loan amount by the lender's depletion schedule to estimate the asset floor needed.

Question 5

Is this loan harder to get approved?

Accepted Answer

Non-QM loans have more flexible income rules but stricter asset documentation. Strong credit and clean asset history improve your odds significantly.

Asset Depletion Loans in Angels Camp, CA