Question 1

What assets count toward qualification?

Accepted Answer

Checking, savings, brokerage, and money market accounts typically count. Retirement accounts often qualify at 70% of their value.

Question 2

Can I use this for a vacation home in Tahoe?

Accepted Answer

Yes, but expect stricter terms on second homes. Lenders may require a larger down payment and more reserves.

Question 3

How is my income calculated from assets?

Accepted Answer

Lenders divide eligible assets by a set number of months. That result becomes your monthly qualifying income figure.

Question 4

What credit score do I need?

Accepted Answer

Most non-QM lenders require at least 680. A stronger score improves your rate and program options.

Question 5

Are asset depletion rates higher than conventional rates?

Accepted Answer

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

Question 6

Do I need to actually spend down my assets?

Accepted Answer

No. The calculation is a formula for qualifying — you're not required to liquidate anything after closing.

Asset Depletion Loans in South Lake Tahoe