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Asset Depletion Loans in Irwindale
Irwindale's industrial economy creates wealth that doesn't show up on W-2s. Business owners with equipment holdings and investors with brokerage accounts need mortgages too.
Asset depletion loans turn liquid assets into qualifying income. Lenders divide your bank and investment accounts by 360 months to calculate monthly income for approval.
You need substantial liquid assets and decent credit. Most lenders require $500K+ in verifiable accounts and credit scores above 680.
Retirement accounts like 401(k)s and IRAs count, but only 70% of their value. Cash and brokerage accounts count at full value toward your qualifying asset total.
This is non-QM territory. You won't find asset depletion at big banks. Specialized lenders price these loans 1-2% above conventional rates.
Each lender calculates asset depletion differently. Some divide by 360 months, others by 240. That math changes your qualifying power dramatically.
I see retirees with million-dollar portfolios get declined because they picked the wrong lender. Asset allocation matters—stocks fluctuate, so lenders prefer stable cash positions.
Smart move: consolidate accounts before applying. Three accounts with $200K each look better than ten accounts with mixed balances. Simplifies verification and speeds approval.
Bank statement loans work better if you have business revenue. Asset depletion shines when your wealth sits idle or you're fully retired.
Foreign national loans require assets too, but they're structured for non-residents. If you're a U.S. citizen with assets, this program offers better rates and terms.
Irwindale property prices stay moderate compared to coastal LA County. Your assets stretch further here, often qualifying you for purchases that wouldn't work in Pasadena.
Industrial zoning dominates, so residential inventory runs tight. Competition means you need full approval before making offers—no time for asset verification delays.
Most lenders require $500K minimum in liquid assets. Higher loan amounts need proportionally more assets to generate qualifying income.
Yes, but lenders only count 70% of retirement account values. They discount these accounts because early withdrawal penalties reduce true liquidity.
No, assets stay invested. Lenders just verify the accounts exist and calculate theoretical monthly income from the balances.
Rates vary by borrower profile and market conditions. Expect 1-2% above conventional rates given the non-QM structure and reduced documentation.
Plan for 30-45 days. Verifying multiple financial institutions takes longer than standard employment verification despite no income documents.
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.