Question 1

What assets qualify for asset depletion in El Centro?

Accepted Answer

Checking, savings, money market, and brokerage accounts typically qualify. Retirement accounts usually count at 60-70% of their balance.

Question 2

Do I need any income at all to qualify?

Accepted Answer

No traditional income is required. Your liquid assets alone can serve as the qualifying income source under asset depletion guidelines.

Question 3

How much do I need in assets to buy in El Centro?

Accepted Answer

It depends on the loan amount and term. Your assets get divided over 360 months — whatever that monthly figure is must cover the payment and qualify you.

Question 4

Is asset depletion harder to get approved than a conventional loan?

Accepted Answer

Yes. Non-QM underwriting is more manual and lender standards vary. A strong asset base and clean credit profile are essential.

Question 5

Are asset depletion rates higher than conventional rates?

Accepted Answer

Typically yes. Non-QM programs carry a rate premium over conventional loans. Rates vary by borrower profile and market conditions.

Question 6

Can a cross-border business owner use asset depletion in El Centro?

Accepted Answer

Possibly, but foreign-sourced assets face extra scrutiny. A Foreign National loan may be a better fit depending on residency and asset location.

Asset Depletion Loans in El Centro, CA