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Glendora's established neighborhoods attract retirees and high-net-worth buyers who don't fit traditional income boxes. Asset depletion loans let you qualify using investment accounts, retirement funds, and liquid assets instead of W-2 income.
This program makes sense for Glendora buyers with substantial portfolios but irregular employment. Your assets become your income story, calculated by dividing account balances by 360 months to determine qualifying power.
Most Glendora properties fall within conventional loan limits, but asset depletion opens doors for buyers who've built wealth outside traditional employment. It's popular with early retirees moving up from smaller LA County cities.
Asset Depletion Loans in Glendora
You need significant liquid assets to make this work. Most lenders require $500,000 minimum in qualifying accounts, though some accept lower amounts for smaller loan requests.
Credit scores start at 680 for most programs. Expect 20-30% down payments depending on your total asset picture and property type.
Qualifying accounts include stocks, bonds, mutual funds, and retirement accounts. Real estate equity and business assets typically don't count. The lender divides your total by 360 to create monthly income for qualifying purposes.
Local decision guide
Use this guide to connect asset depletion loans eligibility, lender expectations, and local market factors before comparing payment options in Glendora.
Glendora's established neighborhoods attract retirees and high-net-worth buyers who don't fit traditional income boxes. Asset depletion loans let you qualify using investment accounts, retirement funds, and liquid assets instead of W-2 income.
This program makes sense for Glendora buyers with substantial portfolios but irregular employment. Your assets become your income story, calculated by dividing account balances by 360 months to determine qualifying power.
Most Glendora properties fall within conventional loan limits, but asset depletion opens doors for buyers who've built wealth outside traditional employment. It's popular with early retirees moving up from smaller LA County cities.
Asset depletion sits in the Non-QM space, which means fewer lenders and more variation in guidelines. We work with 15+ Non-QM lenders who offer this program with different asset requirements and pricing tiers.
Rates typically run 1-2% above conventional loans. Your rate depends on down payment size, credit score, and total asset depth.
Some lenders require seasoning periods for recently liquidated assets. Others accept stock transfers without waiting periods. Shopping across lenders matters more here than with conventional loans because guidelines vary significantly.
This loan works best for Glendora buyers with $2 million+ in liquid assets purchasing properties under $1 million. The math gets tight below that threshold unless you're making a substantial down payment.
I see this program succeed with three groups: early retirees who cashed out stock options, real estate investors with 1031 proceeds sitting in accounts, and business owners who've sold companies. All have assets but no traditional income documentation.
Don't use asset depletion if you can qualify another way. Bank statement loans or 1099 programs often deliver better rates if you have any business income. Asset depletion is the right tool when your only income story lives in your brokerage account.
Bank statement loans require 12-24 months of deposits showing business income. Asset depletion needs no income history, just current account balances. If you're truly retired or between ventures, asset depletion wins.
Foreign national loans work for non-U.S. citizens but require larger down payments. Asset depletion accepts U.S. and foreign accounts for citizens and permanent residents, often with better terms.
DSCR loans qualify based on rental property cash flow, not personal assets. If you're buying investment property in Glendora, DSCR might beat asset depletion on rate and down payment requirements.
Glendora's foothill properties attract buyers seeking suburban stability with mountain views. These buyers often have wealth accumulated through careers, not current high incomes. Asset depletion fits that profile perfectly.
Los Angeles County appraisals move fast in Glendora's established neighborhoods. Appraisers find plenty of comparable sales data, which keeps Non-QM lenders comfortable with the area.
Property taxes in Glendora stay reasonable compared to coastal LA County cities. Lower carrying costs help the debt-to-income math work when your qualifying income comes from asset depletion calculations.
They divide your total qualifying assets by 360 months. If you have $1.8 million in accounts, that creates $5,000 monthly qualifying income for mortgage purposes.
Yes, but lenders typically apply a 30% penalty to retirement account values to account for early withdrawal taxes. A $1 million IRA counts as $700,000 for qualifying.
Most programs require 20-30% down. Larger down payments and deeper asset reserves can improve your rate and compensate for lower credit scores.
Expect 3-4 weeks from application to closing. Verification of asset accounts takes longer than employment verification, but avoids income documentation hassles entirely.
No. Lenders verify accounts exist and calculate qualifying income from balances. You keep investments in place throughout the process unless you need funds for down payment.