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Asset Depletion Loans in San Marino
San Marino's luxury market attracts retired executives and trust fund beneficiaries who don't fit traditional W-2 molds. Asset depletion loans let you qualify based on portfolio value, not employment letters.
When you own $5 million in liquid assets but show zero on a tax return, conventional underwriting fails. This program divides your asset balance into monthly income for qualification purposes.
San Marino buyers often carry 7-figure brokerage accounts but minimal reportable income. Asset depletion bridges that gap without forcing liquidation or tax events.
Most lenders divide your liquid assets by 360 months to calculate monthly income. A $3.6 million portfolio becomes $10,000 per month for debt-to-income ratios.
You need 620+ credit and 20-30% down depending on property type. Larger asset pools sometimes offset lower credit scores.
Qualifying assets include stocks, bonds, mutual funds, and money market accounts. Retirement accounts count at discounted rates, usually 60-70% of value.
Expect asset verification through 2-3 months of brokerage statements. Lenders want to see stable balances, not accounts drained last week.
Asset depletion lives exclusively in non-QM channels. No Fannie Mae or FHA version exists, so you're working with specialty lenders only.
We access 30+ lenders offering this program with different asset calculation methods. Some count 100% of taxable accounts while others discount everything.
Rate spreads run wide based on how lenders value your assets. One might quote 7.5% while another hits 6.8% on identical scenarios.
San Marino loan amounts often exceed $2 million, which narrows the lender pool. Not every non-QM shop handles jumbo asset depletion.
Asset depletion makes sense when you have 30x the loan amount in liquid assets. Below that ratio, bank statement or DSCR loans often price better.
I see San Marino buyers push this program when they shouldn't liquidate for down payments. If you need to drain accounts to close, reconsider the purchase price.
Lenders treat retirement accounts differently. Some use full IRA balances, others apply 30-40% haircuts for early withdrawal penalties.
The best deals come from lenders who count municipal bonds at 100% value. Others discount them like stocks, which kills your qualifying income.
Bank statement loans work better if you run business income through personal accounts. Asset depletion shines when you have zero income but massive portfolios.
Foreign national programs require larger down payments but skip credit history requirements. Asset depletion needs U.S. credit but accepts lower down payments.
DSCR loans make sense for investment properties using rental income. Asset depletion handles primary residences where your lifestyle exceeds your W-2.
1099 loans require two years of tax returns showing self-employment. Asset depletion ignores tax returns entirely, focusing only on account balances.
San Marino properties often require jumbo financing, which complicates asset depletion. You need lenders comfortable with $2-4 million loan amounts and non-traditional income.
Local property taxes run high, increasing your debt-to-income ratios. That forces you to show larger asset balances to qualify for the same loan amount.
The city's top-tier school district attracts families burning through savings for education. Asset depletion accounts for that spend pattern without penalizing you.
Earthquake insurance adds $300-500 monthly to housing costs. Factor that into your qualification ratios before locking rates.
Figure $4-5 million in liquid assets to comfortably qualify. Lenders divide your balance by 360 to calculate monthly income for debt ratios.
Yes, but most lenders discount IRA balances by 30-40%. A $1 million IRA might count as $600,000 in qualifying assets.
Rates run 1-2% higher than conventional. You trade higher costs for zero income documentation and faster closing timelines.
No, you keep your portfolio intact. Lenders verify balances but don't require you to sell investments for down payment or reserves.
720+ credit accesses top pricing tiers. Below 680, expect rate increases of 0.5-1% even with substantial assets.
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.