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West Hollywood's luxury condo market attracts high-net-worth buyers who don't fit traditional income boxes. Asset depletion loans let you qualify using liquid accounts instead of paystubs.
Retired entertainment executives and divested tech founders dominate this lending category here. If you have substantial assets but minimal reported income, this loan type makes sense.
Asset Depletion Loans in West Hollywood
Lenders divide your liquid assets by 360 months to calculate qualifying income. A $2 million portfolio creates roughly $5,500 monthly income for qualification purposes.
You need minimum 620 credit and 20% down for most programs. Some portfolio lenders accept 10% down with compensating factors like strong reserves.
Stocks, bonds, mutual funds, and retirement accounts all count. Real estate equity and business holdings typically don't qualify as depletable assets.
Local decision guide
Use this guide to connect asset depletion loans eligibility, lender expectations, and local market factors before comparing payment options in West Hollywood.
West Hollywood's luxury condo market attracts high-net-worth buyers who don't fit traditional income boxes. Asset depletion loans let you qualify using liquid accounts instead of paystubs.
Retired entertainment executives and divested tech founders dominate this lending category here. If you have substantial assets but minimal reported income, this loan type makes sense.
Lenders divide your liquid assets by 360 months to calculate qualifying income. A $2 million portfolio creates roughly $5,500 monthly income for qualification purposes.
About 15 of our 200+ wholesale lenders offer true asset depletion programs. Each calculates qualifying income differently—some use 84 months, others 360 months.
Portfolio lenders give you the most flexibility on asset types and down payment. Correspondent channels price better but enforce stricter asset documentation requirements.
Expect rates 1.5-2.5% above conforming conventional loans. Your credit score and loan-to-value ratio drive the exact markup more than asset portfolio size.
West Hollywood buyers often combine asset depletion with foreign national programs when purchasing second homes. The documentation overlap makes dual qualification efficient.
I steer clients with $3 million+ in assets toward private banks first. Their portfolio loan terms beat wholesale asset depletion pricing if you maintain substantial deposits with them.
Tax returns still matter for some lenders even though income doesn't count. They want to verify you're not hiding liabilities or judgments.
Bank statement loans work better if you have any business income to document. Asset depletion makes sense when you're fully retired or living off investments.
DSCR loans beat asset depletion for rental properties. You can't occupy the property and qualify through rental income with asset depletion programs.
1099 contractor loans require less documentation than asset depletion if you're still working. Asset programs demand complete account statements and verification letters.
West Hollywood's condo inventory includes many units over $1.5 million. Asset depletion becomes viable at that price point with typical down payments.
HOA dues here run high—often $800-1,500 monthly. Lenders include these in debt ratios, which can limit how much home your assets support.
The city's age-qualified buildings appeal to retirees using asset depletion. Management companies here understand these loan programs and cooperate on documentation.
Yes, retirement accounts count as depletable assets. Lenders typically use 70% of the vested balance to account for early withdrawal penalties.
No, you keep your assets invested. Lenders calculate theoretical income from your portfolio but don't require you to sell anything.
Most lenders cap these loans at $3 million. You'd need roughly $10-15 million in liquid assets to qualify for a $2 million purchase.
Expect 30-45 days from application to clear-to-close. Asset verification takes longer than income documentation on conventional loans.
Yes, several lenders combine both programs. You'll need US-based liquid accounts or accept higher rates for foreign-held assets.