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Lakeport sits on the western shore of Clear Lake — a retirement and second-home destination. Many buyers here are asset-rich but income-light on paper.
Asset depletion loans let you qualify using liquid assets — think savings, brokerage accounts — instead of a W-2 or pay stub. That's a direct fit for this market.
620+
Min Credit Score
20-30%
Down Payment
60 days typical
Asset Seasoning
None
Income Docs Required
6-12 months
Post-Close Reserves
Asset Depletion Loans in Lakeport
Lenders divide your eligible liquid assets by a set number of months — often 360 — to calculate a monthly income figure. That number replaces traditional employment income.
Most lenders want to see at least 620 credit and assets held in verifiable accounts. Retirement accounts typically get a haircut, often 30-40%, before the calculation runs.
Local decision guide
Use this guide to connect asset depletion loans eligibility, lender expectations, and local market factors before comparing payment options in Lakeport.
Lakeport sits on the western shore of Clear Lake — a retirement and second-home destination. Many buyers here are asset-rich but income-light on paper.
Asset depletion loans let you qualify using liquid assets — think savings, brokerage accounts — instead of a W-2 or pay stub. That's a direct fit for this market.
Lenders divide your eligible liquid assets by a set number of months — often 360 — to calculate a monthly income figure. That number replaces traditional employment income.
This is a non-QM product. Most retail banks won't touch it. You need a broker with access to wholesale non-QM lenders who actually price these loans competitively.
At SRK CAPITAL, we shop across 200+ wholesale lenders. That matters here — non-QM pricing varies widely, and the wrong lender costs you real money. Rates vary by borrower profile and market conditions.
The most common mistake I see: borrowers assume any large asset balance qualifies. Lenders are specific — they want liquid, accessible funds. Equity in another property doesn't count.
Down payment requirements run higher on asset depletion loans. Expect 20-30% down in most cases. Plan your asset allocation before you make an offer.
If you have irregular deposits, Bank Statement Loans might price better. Those use 12-24 months of bank deposits to calculate income instead of asset math.
DSCR Loans work if you're buying a rental in the Lakeport area — they qualify on the property's rent income, not yours. Know which structure fits before you commit.
Lake County is rural. Appraisals can be tricky — fewer comps, longer turn times. Non-QM lenders already run tighter on rural properties, so appraisal quality matters more here.
Second homes and vacation properties in Lakeport often face stricter reserve requirements from non-QM lenders. Budget for 6-12 months of payments in reserves post-close.
Checking, savings, and brokerage accounts typically qualify. Retirement accounts count at a reduced value, usually 60-70% of the balance.
Yes, but second-home transactions carry stricter reserve requirements. Expect lenders to require more post-close assets.
Lenders divide eligible assets by a set term — often 360 months. A $1.8M asset base could generate $5,000 in qualifying monthly income.
No. Asset depletion loans don't require employment. You qualify entirely on documented liquid assets.
Yes, non-QM loans carry a rate premium over conventional products. Rates vary by borrower profile and market conditions.
Non-QM loans in rural counties can take 30-45 days. Appraisal scheduling in Lake County adds time — build that into your purchase contract.