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Clearlake sits on Clear Lake — California's largest natural freshwater lake. Retirees and cash-rich buyers are drawn here for that reason.
Many of these buyers have real wealth. They just don't have a W-2. Asset depletion loans solve exactly that problem.
620+
Min Credit Score
Assets ÷ 360 months
Income Calc Method
60-90 days
Asset Seasoning
No
Employment Required
Non-QM
Loan Type
Asset Depletion Loans in Clearlake
Lenders divide your liquid assets by a set number of months — often 360. That monthly figure becomes your qualifying income.
Most lenders want at least 620 credit and assets well above the loan amount. The more liquid, the better. Retirement accounts often count at 70%.
Local decision guide
Use this guide to connect asset depletion loans eligibility, lender expectations, and local market factors before comparing payment options in Clearlake.
Clearlake sits on Clear Lake — California's largest natural freshwater lake. Retirees and cash-rich buyers are drawn here for that reason.
Many of these buyers have real wealth. They just don't have a W-2. Asset depletion loans solve exactly that problem.
Lenders divide your liquid assets by a set number of months — often 360. That monthly figure becomes your qualifying income.
Big banks rarely offer asset depletion programs. This is a non-QM product — wholesale lenders dominate this space.
Rates vary by lender, asset type, and loan-to-value. Rates vary by borrower profile and market conditions. Shopping multiple wholesale lenders matters here.
The documentation trip-up I see most: unseasoned assets. Lenders want funds sitting in accounts for 60-90 days minimum. Move money right before applying and you'll stall the deal.
Business accounts often don't count. Keep qualifying assets in personal checking, savings, or brokerage. Make that separation early — before you're under contract.
Bank statement loans work if you run a business with cash flow. Asset depletion works if your money sits in accounts — not running through a business.
DSCR loans are built for rental properties. Asset depletion is built for the buyer. If you're purchasing a primary or second home near the lake, asset depletion is the cleaner fit.
Lake County has lower property values than coastal California. That works in your favor — you need fewer assets to hit the qualifying income threshold.
Many Clearlake buyers are purchasing vacation homes or retiring permanently. Asset depletion fits both profiles without requiring any employment history.
They divide your eligible liquid assets by a set term — often 360 months. That number becomes your monthly qualifying income.
Yes, but lenders typically apply a 70% haircut. A $500k IRA may count as $350k in eligible assets.
Yes. Asset depletion works for primary residences and second homes. Lenders may require a higher down payment for second home purchases.
Most non-QM lenders want 620 or higher. Better scores get better pricing — and more lender options.
Most lenders require 60-90 days of account history. Moving funds right before closing can delay or kill your approval.
Rarely. This is a non-QM product. You'll find it through wholesale lenders — which brokers like SRK CAPITAL access directly.