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Willits sits in inland Mendocino County — rural, affordable, and off the radar for most lenders. That creates opportunity for asset-rich buyers who don't draw a paycheck.
Asset depletion loans convert your liquid holdings into qualifying income. No W-2 required. No pay stubs. Just documented assets.
620–660 typical
Min Credit Score
20–30%
Down Payment
21–30 days
Est. Close Time
None (assets only)
Income Required
Non-QM / Portfolio
Loan Type
Asset Depletion Loans in Willits
Lenders divide your eligible assets by a set term — often 60 to 84 months — to calculate monthly income. That number drives your qualifying power.
Eligible assets typically include checking, savings, money market, and investment accounts. Retirement accounts often count at a discount, usually 60–70% of the balance.
Local decision guide
Use this guide to connect asset depletion loans eligibility, lender expectations, and local market factors before comparing payment options in Willits.
Willits sits in inland Mendocino County — rural, affordable, and off the radar for most lenders. That creates opportunity for asset-rich buyers who don't draw a paycheck.
Asset depletion loans convert your liquid holdings into qualifying income. No W-2 required. No pay stubs. Just documented assets.
Lenders divide your eligible assets by a set term — often 60 to 84 months — to calculate monthly income. That number drives your qualifying power.
Your local bank won't offer this. Asset depletion is a non-QM product, meaning it lives entirely in the wholesale and private lending world.
We work with 200+ wholesale lenders. Several specialize in non-QM programs like this one. Rate and terms vary widely — shopping matters here.
The biggest mistake I see: buyers assume more assets automatically mean better terms. Lenders care about asset type and liquidity, not just the total number.
Willits properties sometimes appraise lower than buyers expect. Get your asset documentation airtight before you're in contract — don't scramble after.
Bank statement loans work better if you run a business with consistent deposits. Asset depletion wins when income is minimal but the balance sheet is strong.
DSCR loans are built for rental properties. If you're buying a primary home or vacation property in Willits, asset depletion is usually the cleaner path.
Willits is a small market. Fewer comparable sales make appraisals harder, and some lenders add overlays for rural properties. Pick a lender with rural non-QM experience.
As of April 2026, Mendocino County property values remain well below coastal California norms. That keeps loan amounts modest — a real advantage for asset depletion math.
Yes, but most lenders discount retirement accounts to 60–70% of the balance. Liquid non-retirement assets carry more weight.
Not always. Some lenders accept zero employment income if assets are sufficient. Others require minimal documented income — ask your lender directly.
Expect 20–30% down for most asset depletion programs. Non-QM lenders don't offer low-down-payment options on this product.
Requirements vary by lender, but most non-QM programs start around 620–660. Higher scores improve your rate. Rates vary by borrower profile and market conditions.
Rural properties add a layer of lender scrutiny — especially on appraisals. Work with a broker who has placed non-QM loans in rural California before.
Non-QM loans typically close in 21–30 days. Complex asset documentation or rural appraisal delays can push that timeline out.