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Bishop sits at the edge of the Eastern Sierra — a retirement and second-home market where liquid assets matter more than paystubs.
Buyers here often hold significant savings, brokerage accounts, or retirement funds. Asset depletion lets those holdings count as qualifying income.
680+
Min Credit Score
20-30%
Down Payment
60-84 months
Asset Depletion Term
Non-QM
Loan Type
Asset Depletion Loans in Bishop
Lenders divide your eligible assets by a set number of months — typically 60 to 84 — to calculate a monthly income figure.
Most lenders want a 680+ credit score and 20-30% down. Eligible assets include checking, savings, brokerage, and eligible retirement accounts.
Local decision guide
Use this guide to connect asset depletion loans eligibility, lender expectations, and local market factors before comparing payment options in Bishop.
Bishop sits at the edge of the Eastern Sierra — a retirement and second-home market where liquid assets matter more than paystubs.
Buyers here often hold significant savings, brokerage accounts, or retirement funds. Asset depletion lets those holdings count as qualifying income.
Lenders divide your eligible assets by a set number of months — typically 60 to 84 — to calculate a monthly income figure.
Asset depletion is a non-QM product. Most big banks don't offer it. You need a broker with access to specialty wholesale lenders.
At SRK CAPITAL, we work with 200+ wholesale lenders. That reach matters when you're buying in a smaller market like Bishop.
The most common mistake I see: borrowers think all assets qualify equally. Vested retirement accounts often get haircut to 70% of face value.
Also, assets used for the down payment get subtracted first. Show the lender your full picture before counting on a specific income number.
Bank Statement Loans work better if you run a business with consistent monthly deposits. Asset depletion works when income is low or irregular.
DSCR Loans are the right call if you're buying a rental. Asset depletion is for primary homes or second homes you won't rent out.
Bishop is a gateway town for outdoor recreation. A strong share of buyers are retirees or remote workers relocating from higher-cost metros.
Properties here include single-family homes, cabins, and rural parcels. Lenders treat each differently — confirm your property type qualifies before applying.
Checking, savings, brokerage, and vested retirement accounts typically qualify. Retirement accounts are usually counted at 70% of their value.
Yes. Second homes are eligible. Expect a slightly higher rate than a primary residence. Rates vary by borrower profile and market conditions.
Lenders divide your total eligible assets by a set term — often 60 to 84 months. That figure becomes your qualifying monthly income.
No. That's the point of asset depletion. You can qualify with zero employment income if your assets are large enough.
Most lenders require 680 or higher for asset depletion loans. Higher scores help you access better rates and terms.
Appraisals can be trickier in rural markets. Work with a broker who knows which lenders are comfortable with Eastern Sierra properties.