Question 1

What assets count for qualification in Belvedere?

Accepted Answer

Checking, savings, brokerage, and money market accounts typically count. Real estate equity and illiquid investments do not.

Question 2

How does the income calculation work?

Accepted Answer

Lenders divide your total eligible assets by a set number of months — often 360. That result becomes your monthly qualifying income.

Question 3

Can I use this loan for a second home in Belvedere?

Accepted Answer

Yes. Asset Depletion works for primary residences and second homes. Terms and reserve requirements may be stricter on second homes.

Question 4

What credit score do I need?

Accepted Answer

Most lenders want 680 or higher. Stronger assets and larger down payments can sometimes offset a score in the high 600s.

Question 5

How long does underwriting take for this loan type?

Accepted Answer

Expect 3-5 weeks. Non-QM underwriting is more manual than conventional. Having clean, consolidated account statements speeds things up.

Question 6

Are rates higher than a conventional mortgage?

Accepted Answer

Yes, typically. Non-QM loans carry a rate premium over conventional loans. Rates vary by borrower profile and market conditions.

Asset Depletion Loans in Belvedere, CA