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Asset Depletion Loans in Susanville
Susanville's housing market runs on traditional income documentation. Most local lenders only know W-2 and tax returns.
Asset depletion changes that equation entirely. If you've sold a business, inherited wealth, or retired early with liquid investments, this loan treats your assets as monthly income.
Lassen County's small-town lending scene makes non-QM options scarce. Most borrowers here don't know asset-based qualification exists.
You need $200,000 minimum in liquid assets after your down payment. Lenders divide your total qualifying assets by 360 months to calculate monthly income.
Credit score minimums start at 620 for most programs. Your asset balance determines loan amount far more than traditional debt ratios.
Retirement accounts like 401(k)s and IRAs count, but lenders typically discount them by 30% for early withdrawal penalties. Taxable brokerage accounts qualify at full value.
Zero local banks in Susanville offer asset depletion programs. You need access to specialty non-QM lenders who actually underwrite these deals.
We work with 15+ wholesale lenders who fund asset-based loans. Rate spreads run wide—some quote 2% higher than others for identical scenarios.
Most national lenders won't touch rural California properties. Finding one who approves Lassen County locations cuts your options to maybe five shops.
This loan makes sense for exactly one borrower profile: substantial liquid net worth with minimal taxable income. If you're still working full-time, bank statement loans usually beat asset depletion on rate.
Susanville buyers using asset depletion typically fall into three buckets: California retirees downsizing from pricier markets, business owners who just exited, and remote tech workers who structured income in non-traditional ways.
The biggest mistake is not planning for post-close liquidity. Lenders calculate income off assets that remain after your down payment and reserves, so keep six months liquid beyond what underwriting requires.
Bank statement loans require business activity and tax returns. Asset depletion needs neither—just proof you own the investments.
DSCR loans work for investment properties only. Asset depletion covers primary homes and second residences in Susanville.
Conventional loans beat asset depletion on rate by 1-1.5%, but you need W-2 income. If you're sitting on $500K in stocks but zero employment, rate difference becomes irrelevant.
Susanville home prices sit well below California averages, making minimum asset requirements easier to hit. A $300K purchase needs roughly $275K in qualifying assets at 80% LTV.
Lassen County appraisers are few and turnaround runs 3-4 weeks. Non-QM lenders charge higher appraisal fees for rural areas—expect $700-900 versus $500-600 in metro markets.
Property insurance costs have spiked across rural Northern California. Factor $2,000-3,000 annually into your qualification calculations, as lenders include this in debt ratios.
Checking, savings, money market accounts, stocks, bonds, mutual funds, and retirement accounts all count. Real estate equity and business assets don't qualify.
Expect 1.5-2.5% higher than conventional conforming rates. Exact pricing depends on credit score, LTV, and total asset position.
Some lenders allow it, but most restrict asset depletion to primary residence and second homes. DSCR loans typically work better for pure investment deals.
No. Lenders verify account balances but don't require you to sell anything. Assets remain invested throughout the loan term.
Plan for 30-45 days from application to closing. Appraisal delays in Susanville add 1-2 weeks versus metro timelines.
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.