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Maywood's housing stock sits in the $400K-$650K range, making it accessible for asset-rich borrowers. Most lenders require 12-24 months of documented liquid assets to qualify.
This loan works for retirees, trust beneficiaries, and investors who have wealth but no W-2. Maywood's small-lot homes fit perfectly within typical asset depletion loan limits.
Lenders divide your total liquid assets by 360 months to calculate qualifying income. A $500K portfolio can generate roughly $1,400/month in qualifying income.
You need $200K+ in liquid assets to make this work in Maywood. Credit scores start at 620, but 680+ gets better rates.
Eligible assets include checking, savings, stocks, bonds, and retirement accounts. Most lenders apply a 60-70% haircut to retirement funds.
Down payment runs 10-20% depending on credit and asset profile. Higher reserves strengthen your application when assets are borderline.
Asset depletion sits in the non-QM space, so you won't find it at Wells Fargo or Chase. About 30 of our 200+ lenders offer these programs.
Rates typically run 1-2% above conventional due to the non-traditional qualification. Expect 7.5-9% in current markets, varying by profile.
Some lenders cap at $1M loan amounts while others go to $2M+. Maywood purchases rarely hit these limits, giving you more lender options.
I see this loan work best for three profiles: retirees downsizing into Maywood, beneficiaries of settlements or inheritance, and business owners whose tax returns don't reflect cash flow. The calculation is straightforward but documentation is strict.
The biggest mistake borrowers make is pulling money from accounts before applying. Don't touch those assets until after closing—every withdrawal triggers questions.
Seasoning matters. Lenders want to see assets sitting in accounts for 2-3 months minimum. A sudden $300K deposit two weeks before application kills most deals.
Bank statement loans work better if you have business revenue but low assets. DSCR loans make sense if you're buying Maywood investment property—no personal income needed.
Asset depletion beats bank statements when you're retired or between careers. It's cleaner than explaining business deposits and profit margins.
Foreign national loans overlap with this if you're not a US citizen but have substantial assets. Some lenders combine both programs.
Maywood sits just 7 miles southeast of downtown LA with mainly single-family homes built pre-1960. Appraisals rarely fall through here due to the established neighborhood character.
Property taxes run about 1.1% in LA County, lower than some neighboring cities. Your asset depletion calculation needs to account for PITI when lenders qualify you.
Most Maywood purchases are primary residences or family transfers. Investment property rules differ—lenders may require higher reserves or different asset ratios.
Checking, savings, stocks, bonds, mutual funds, and retirement accounts like 401(k) or IRA. Most lenders apply a 30-40% discount to retirement funds since they're not immediately accessible.
Yes, but lenders typically value your IRA at 60-70% ($240K-$280K) due to early withdrawal penalties. This generates roughly $670-$780 monthly in qualifying income based on a 360-month calculation.
30-45 days on average. Verification of assets adds time compared to conventional loans, especially if you hold accounts at multiple institutions.
Yes, most lenders require 6-12 months of reserves after closing. These reserves can be part of the same asset pool used for qualification.
Asset depletion rates run 1-2% higher than conventional mortgages. Strong credit and larger down payments get you closer to the lower end of that range.
Asset Depletion Loans in Maywood