Loading
Asset Depletion Loans in Lemoore
Lemoore's military and agricultural economy creates unusual borrower profiles. NAS Lemoore personnel often have significant savings but irregular income documentation.
Retirees and investors relocating to Kings County face the same challenge. Asset depletion loans convert liquid holdings into qualifying income without W-2s or tax returns.
This program works when you've got the money but can't prove traditional income. Lenders calculate monthly income by dividing your assets by the loan term—typically 360 months.
You need substantial liquid assets to make the math work. Most lenders want to see at least 25-40% down plus reserves after dividing your portfolio.
Eligible assets include checking, savings, retirement accounts, and investment portfolios. Real estate equity and business holdings usually don't count.
Credit scores typically need to hit 660 minimum. Some lenders push that to 680-700 depending on the asset profile and loan amount.
The formula is simple: total liquid assets divided by 360 months equals your monthly qualifying income. That number needs to cover your full debt-to-income ratio.
Asset depletion sits in the non-QM space. Not every lender in Kings County offers this program—it requires specialty underwriting and portfolio lending.
Rates run 1-2.5% higher than conventional mortgages. The premium reflects the non-traditional qualification and portfolio risk these lenders hold.
SRK CAPITAL shops across 200+ wholesale lenders to find competitive asset depletion pricing. Direct retail lenders typically charge more for the same program.
Expect thorough asset verification. Lenders want two months of statements showing consistent balances. Sudden deposits trigger questions and delays.
Most Lemoore borrowers don't realize they qualify this way. We see military families sitting on 200K in savings who think they need W-2 income to buy.
The mistake is pulling too much out for the down payment. You need enough left over to create qualifying income and cover 6-12 months reserves.
Asset depletion makes sense when your portfolio generates 3-4x your housing payment after the calculation. Otherwise you're bleeding assets to qualify.
We often pair this with a refi strategy. Close with asset depletion, then refinance to conventional once income documentation improves or portfolio rebuilds.
Bank statement loans work better if you've got business income flowing through accounts. Asset depletion wins when you're truly asset-rich and income-light.
Foreign national loans require similar down payments but allow different asset types. If you're a U.S. citizen with domestic accounts, asset depletion costs less.
DSCR loans beat asset depletion for investment properties. You qualify on the rental income, not your personal assets—preserving your portfolio.
1099 contractors should try bank statement loans first. Asset depletion is your backup when deposits don't tell a clean income story.
Lemoore's home prices make asset depletion accessible. A 300K purchase needs roughly 500-600K in liquid assets to qualify comfortably with reserves.
Kings County appraisals move fast on base housing and newer developments. Rural properties outside city limits take longer and need more documentation.
Military borrowers face unique timing. If you're PCSing into Lemoore with deployment income ending, asset depletion bridges the gap until new employment stabilizes.
Agricultural investors use this program heavily. They've got land equity and savings but seasonal income that doesn't pencil on traditional applications.
Divide your target purchase price by 2.5 as a starting point. A 300K home typically requires 500-600K in liquid assets after your down payment and reserves.
Yes. Most lenders accept IRA, 401(k), and other qualified accounts. They'll discount the balance by 25-30% to account for early withdrawal penalties and taxes.
Most lenders require 660 minimum. Stronger asset profiles sometimes push approvals at 640, but expect higher rates and larger down payments below 680.
No. Lenders calculate theoretical monthly income by dividing your balance by 360 months. The assets stay invested—you just prove they exist and are accessible.
Plan for 30-45 days from application to closing. Asset verification takes longer than income documentation. Clean statements with stable balances move fastest.
Absolutely. This program works perfectly for service members with deployment savings, reenlistment bonuses, or family wealth who lack consistent W-2 income documentation.
Mortgage financing for independent contractors and freelancers who earn 1099 income instead of traditional W-2 wages.
Non-QM loans that use 12 to 24 months of bank statements to verify income for self-employed borrowers.
Short-term financing that bridges the gap between buying a new property and selling an existing one.
Debt Service Coverage Ratio loans that qualify investors based on a rental property's income rather than personal income.
Mortgage programs designed for non-US citizens and non-permanent residents who want to purchase property in the United States.
Asset-based short-term loans primarily used by real estate investors for property acquisition and renovation projects.
Mortgages that allow borrowers to pay only the interest for an initial period, resulting in lower monthly payments upfront.
Financing solutions tailored for real estate investors purchasing rental properties, fix-and-flip projects, or investment portfolios.
Home loans for borrowers who have an Individual Taxpayer Identification Number instead of a Social Security number.
Adjustable rate mortgages held in a lender's portfolio rather than sold on the secondary market, offering more flexible terms.
Non-QM mortgages that use a CPA-prepared profit and loss statement to verify income for self-employed borrowers.
Home loans with interest rates that adjust periodically based on market conditions after an initial fixed-rate period.
Specialized mortgage programs designed to support homeownership in underserved communities with flexible qualification criteria.
Mortgages that meet the guidelines and loan limits set by Fannie Mae and Freddie Mac for secondary market purchase.
Financing for building a new home or making major renovations, typically converting to a permanent mortgage upon completion.
Traditional mortgage financing not backed by a government agency, offering flexible terms and competitive rates for qualified borrowers.
Innovative loan products that leverage projected home equity growth to provide favorable financing terms.
Government-insured mortgages from the Federal Housing Administration with low down payments and flexible credit requirements.
A revolving line of credit secured by your home equity that allows you to borrow funds as needed during a draw period.
A fixed-rate second mortgage that provides a lump sum of cash by borrowing against the equity built in your home.
Mortgages that exceed the conforming loan limits set by the FHFA, designed for financing high-value luxury properties.
Loans for homeowners aged 62 and older that convert home equity into cash without requiring monthly mortgage payments.
Government-backed zero down payment mortgages for eligible rural and suburban homebuyers who meet income limits.
Government-guaranteed mortgages for eligible veterans, active-duty service members, and surviving spouses with zero down payment.