Question 1

How do asset depletion loans work in Commerce, CA?

Accepted Answer

Lenders divide your liquid assets by a set number of months to create qualifying income. This allows you to purchase Commerce property without traditional income documentation.

Question 2

What assets count for asset depletion loans?

Accepted Answer

Checking, savings, money market accounts, stocks, bonds, and retirement accounts typically qualify. Real estate equity and business assets usually don't count toward the calculation.

Question 3

What down payment is required for asset depletion financing?

Accepted Answer

Most lenders require at least 20% down payment for asset depletion loans. Higher down payments may improve your rate and terms.

Question 4

Can retirees use asset depletion loans in Commerce?

Accepted Answer

Yes, asset depletion loans are ideal for retirees with substantial savings but limited monthly income. Your accumulated wealth becomes your qualifying income.

Question 5

How long does asset depletion loan approval take?

Accepted Answer

Processing typically takes 30-45 days, similar to other non-QM loans. Complete asset documentation and clear statements expedite approval.

Asset Depletion Loans in Commerce, California – Qualify Using Your Liquid Assets