Question 1

What assets qualify for this loan in Ukiah?

Accepted Answer

Checking, savings, and brokerage accounts are the strongest. Retirement accounts often count at 60-70% of their value after a penalty haircut.

Question 2

Do I need any income at all to qualify?

Accepted Answer

No. The calculated asset income replaces traditional income entirely. Some lenders still want to see minimal documented income, so ask upfront.

Question 3

How is my monthly income calculated?

Accepted Answer

Lenders divide eligible assets by the loan term — usually 360 months. That number becomes your qualifying monthly income for debt-to-income purposes.

Question 4

Are rates higher than conventional loans?

Accepted Answer

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

Question 5

Can I use this loan for a rural Mendocino County property?

Accepted Answer

Sometimes. The loan program itself allows it, but lenders tighten property guidelines on rural parcels. A standard Ukiah single-family home is the easiest path.

Question 6

How is this different from a bank statement loan?

Accepted Answer

Bank statement loans use cash flow through accounts to prove income. Asset depletion uses the balance itself — no income flow required.

Asset Depletion Loans in Ukiah, CA