Question 1

What assets qualify for asset depletion in Fortuna?

Accepted Answer

Checking, savings, money markets, and investment accounts typically qualify. Retirement accounts usually count at 70% of their balance.

Question 2

Do I need any income at all to qualify?

Accepted Answer

No employment income is required. Lenders use a formula to convert your liquid assets into a calculated monthly income figure.

Question 3

What credit score do I need for this loan?

Accepted Answer

Most non-QM lenders want a 700 or higher. Some go lower, but pricing gets worse fast below that threshold.

Question 4

Can I use this loan to buy in rural Humboldt County?

Accepted Answer

Yes. Property eligibility depends on the lender, not the county. Rural properties are approvable — confirm with your lender's property guidelines.

Question 5

How is my qualifying income calculated?

Accepted Answer

Lenders divide your eligible assets by a set number of months — often 60 to 360. That number becomes your monthly qualifying income.

Question 6

Is asset depletion the same as a stated income loan?

Accepted Answer

No. You must document and verify your assets in full. It replaces income verification, not asset verification.

Asset Depletion Loans in Fortuna, CA