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Wasco sits in Kern County's agricultural core. Many buyers here have real wealth — savings, investments, retirement accounts — but no W-2 to show a traditional lender.
Asset depletion loans solve that problem. Your liquid assets are converted into qualifying income, so your balance sheet does the talking instead of a pay stub.
Typically 680+
Min Credit Score
Usually 20%+
Down Payment
None required
Income Docs
60–360 months
Asset Depletion Term
Lenders take your eligible liquid assets and divide them over a set term — typically 60 to 360 months. That monthly figure becomes your qualifying income.
You generally need strong credit, usually 680 or above. Most lenders also want at least 20% down and reserves left over after closing.
No bank branch in Wasco is going to hand you this product off the shelf. Asset depletion is a non-QM program — you need a lender that actually specializes in it.
We work with 200+ wholesale lenders at SRK CAPITAL. Several of them run strong asset depletion programs with different asset calculation methods and rate structures.
The biggest mistake I see: borrowers assume all their assets count equally. Retirement accounts often get a haircut — sometimes 30% off the eligible balance.
Rates vary by borrower profile and market conditions. But expect a premium over conventional pricing. The trade-off is qualifying without a single pay stub.
Bank statement loans work better if you run a business with consistent monthly deposits. Asset depletion fits borrowers who are retired or living off investments.
DSCR loans are built for rental properties — they qualify on rent income, not personal assets. If you're buying a primary in Wasco, asset depletion is the cleaner fit.
Wasco's property values run lower than coastal California. That keeps loan amounts manageable — which can actually improve your asset-to-loan ratio on these deals.
Kern County buyers often come with farming proceeds, mineral rights payouts, or inheritance. Those liquid assets can absolutely be structured into a qualifying depletion plan.
Checking, savings, stocks, and vested retirement accounts typically qualify. Illiquid assets like real estate equity do not count.
No traditional income is required. Your assets are converted into a monthly income figure using the lender's formula.
Yes — it's one of the best-suited borrower profiles. Retirees with sizable investment accounts often qualify cleanly.
It depends on the loan amount and term used. A broker can run the math once they know your assets and target purchase price.
Yes. Expect a higher rate than conventional. Rates vary by borrower profile and market conditions.
Often yes, but lenders typically apply a discount — sometimes 30% — to retirement balances before counting them.
Asset Depletion Loans in Wasco