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Ukiah attracts retirees, investors, and self-employed buyers with significant wealth but no W-2 income. Standard loan programs reject these borrowers. Asset depletion loans exist for exactly this situation.
This is a non-QM loan — meaning it falls outside standard government guidelines. Lenders calculate a monthly income figure by dividing your liquid assets over a set term, typically 360 months.
680+
Min Credit Score
20-30%
Down Payment
None (asset-based)
Income Required
360 months typical
Loan Term Divisor
Asset Depletion Loans in Ukiah
Lenders want liquid assets — think checking, savings, brokerage accounts, and sometimes retirement funds. Illiquid assets like real estate equity rarely count.
Credit score minimums vary by lender, but most want 680 or above for asset depletion programs. Down payment requirements typically run 20-30% for this loan type.
Local decision guide
Use this guide to connect asset depletion loans eligibility, lender expectations, and local market factors before comparing payment options in Ukiah.
Ukiah attracts retirees, investors, and self-employed buyers with significant wealth but no W-2 income. Standard loan programs reject these borrowers. Asset depletion loans exist for exactly this situation.
This is a non-QM loan — meaning it falls outside standard government guidelines. Lenders calculate a monthly income figure by dividing your liquid assets over a set term, typically 360 months.
Lenders want liquid assets — think checking, savings, brokerage accounts, and sometimes retirement funds. Illiquid assets like real estate equity rarely count.
Most retail banks don't offer asset depletion loans. You're in non-QM territory, which means specialty wholesale lenders — not your local credit union.
We work with 200+ wholesale lenders at SRK CAPITAL. A handful of them have strong asset depletion programs with real pricing flexibility. Rate varies significantly by asset type and LTV. Rates vary by borrower profile and market conditions.
The biggest mistake I see: borrowers showing assets in accounts with restrictions or penalties. Those don't count the same way. Clean, unrestricted liquid accounts close faster.
Lenders divide your eligible assets by the loan term to get a monthly income figure. A $1.2M brokerage account divided by 360 gives you $3,333/month in calculated income. That math drives your approval.
Bank statement loans work better if you have self-employment income flowing through accounts. Asset depletion works better when the assets themselves are the story.
DSCR loans are worth considering if you're buying a rental property in Mendocino County. Those qualify on rental income, not personal assets or income at all.
Ukiah's market draws retirees from the Bay Area who sold homes at peak prices and carry substantial liquid wealth. Asset depletion is a natural fit for this buyer profile.
Mendocino County properties can be rural or mixed-use. Lenders doing asset depletion loans will still scrutinize property type. A standard single-family home in Ukiah qualifies far more easily than a remote parcel.
Checking, savings, and brokerage accounts are the strongest. Retirement accounts often count at 60-70% of their value after a penalty haircut.
No. The calculated asset income replaces traditional income entirely. Some lenders still want to see minimal documented income, so ask upfront.
Lenders divide eligible assets by the loan term — usually 360 months. That number becomes your qualifying monthly income for debt-to-income purposes.
Yes. Non-QM programs carry a rate premium over conventional loans. Rates vary by borrower profile and market conditions.
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.
Bank statement loans use cash flow through accounts to prove income. Asset depletion uses the balance itself — no income flow required.