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Asset Depletion Loans in Artesia
Artesia homebuyers with significant assets but non-traditional income can access flexible financing. Asset depletion loans let you qualify using your savings, investments, and liquid accounts.
Los Angeles County's diverse economy creates many self-employed professionals and investors. These borrowers often have substantial wealth but lack conventional pay stubs.
Asset-based financing opens doors for retirees, entrepreneurs, and investors in Artesia. Your financial strength matters more than your W-2.
Lenders calculate your qualifying income by dividing your total liquid assets by a set number of months. Typical calculations use 60 to 360 months depending on the loan structure.
Eligible assets include checking accounts, savings, stocks, bonds, and retirement accounts. Some lenders accept mutual funds and other investment portfolios as qualifying assets.
Credit score requirements generally start at 620, though better rates come with higher scores. Rates vary by borrower profile and market conditions.
Asset depletion loans come from non-QM lenders who specialize in alternative documentation. These lenders focus on your overall financial picture rather than employment history.
Each lender has different asset calculation methods and acceptable account types. Some include 70% of retirement account values while others use different percentages.
Working with an experienced mortgage broker gives you access to multiple lenders. Brokers compare terms to find the best fit for your situation.
Asset depletion works best for borrowers with substantial liquid holdings. If you have $500,000 in assets, a 60-month calculation creates over $8,000 monthly qualifying income.
These loans require larger down payments than conventional mortgages. Expect to put down 20% to 30% depending on property type and lender requirements.
Documentation is simpler than traditional loans but still requires asset verification. You'll provide bank statements and investment account statements showing balances.
Bank statement loans work for business owners with strong revenue but write-offs. Asset depletion loans serve those with wealth but minimal ongoing income.
Foreign national loans help non-U.S. citizens buy property without domestic credit. DSCR loans focus on rental income rather than personal finances.
1099 loans accommodate independent contractors with consistent contract income. Each non-QM option addresses different financial situations in Artesia.
Artesia's location in Los Angeles County provides access to diverse property types. From single-family homes to investment properties, asset depletion loans work for various purchases.
The city's multicultural business community includes many entrepreneurs and international investors. These buyers often have complex financial profiles that benefit from asset-based lending.
Los Angeles County's competitive real estate market rewards buyers who can close quickly. Asset depletion loans process faster than traditional mortgages with simpler documentation.
Most liquid assets count including checking, savings, stocks, bonds, mutual funds, and retirement accounts. Lenders typically use 60-100% of account values depending on liquidity and type.
Loan amounts depend on your total assets and the lender's calculation method. Most programs support loans up to $3 million for qualified borrowers with sufficient assets.
No, asset depletion loans don't require tax returns or income verification. You provide statements showing your liquid assets instead of employment documentation.
Most lenders require minimum credit scores of 620 to 640. Higher scores above 700 typically qualify for better rates. Rates vary by borrower profile and market conditions.
Yes, asset depletion loans work for primary homes, second homes, and investment properties. Investment properties may require larger down payments and have different rate structures.
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.