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South Lake Tahoe attracts retirees, second-home buyers, and high-net-worth investors. Many have significant liquid assets but no W-2 income to show a traditional lender.
Asset depletion loans solve that problem. Lenders calculate a monthly income figure from your assets — no job required.
Typically 680+
Min Credit Score
Often 20–30%
Down Payment
None (asset-based)
Income Required
60–360 months
Asset Divisor
Non-QM
Loan Type
Lenders divide your eligible assets by a set number of months — typically 60 to 360. That figure becomes your qualifying monthly income.
You'll need strong liquid assets: brokerage accounts, savings, money market funds. Retirement accounts often count at a discounted rate.
Most banks don't offer asset depletion. It's a non-QM product, meaning it lives outside conventional lending guidelines.
We work with 200+ wholesale lenders. Several specialize in non-QM programs built for high-asset, low-income borrowers like Tahoe second-home buyers.
The biggest mistake I see: borrowers liquidating assets to show income before applying. That kills the asset pool you need to qualify.
Asset depletion works best when you have 2-3 years of reserves after closing. Lenders want to see the well doesn't run dry.
Bank statement loans work if you run a business with cash flow. Asset depletion works when the money is already sitting in accounts.
DSCR loans are built for rental income. If you're buying a primary or second home with no rental play, asset depletion is the cleaner fit.
South Lake Tahoe sits in El Dorado County. Second homes and vacation properties are common here — and many lenders apply stricter rules to non-primary residences.
Tahoe properties can carry higher price tags. Make sure your asset pool is large enough after accounting for a bigger loan and non-QM reserve requirements.
Checking, savings, brokerage, and money market accounts typically count. Retirement accounts often qualify at 70% of their value.
Yes, but expect stricter terms on second homes. Lenders may require a larger down payment and more reserves.
Lenders divide eligible assets by a set number of months. That result becomes your monthly qualifying income figure.
Most non-QM lenders require at least 680. A stronger score improves your rate and program options.
Yes. Non-QM products carry a premium over conventional rates. Rates vary by borrower profile and market conditions.
No. The calculation is a formula for qualifying — you're not required to liquidate anything after closing.
Asset Depletion Loans in South Lake Tahoe