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Carmel By The Sea attracts wealthy retirees and executives who are cash-rich but income-poor on paper. Asset depletion loans were built for exactly this borrower.
This is a non-QM loan. That means it falls outside standard federal guidelines. Lenders set their own rules, so terms vary significantly.
Typically 680+
Min Credit Score
60–84 months
Asset Calc Window
Often 20–30%
Down Payment
30–45 days
Est. Close Time
Asset Depletion Loans in Carmel-by-the-Sea
Lenders divide your eligible liquid assets by a set number of months — often 60 to 84. That calculation becomes your qualifying monthly income.
Eligible assets typically include savings, brokerage accounts, and retirement funds. Real estate equity and business assets usually don't count.
Local decision guide
Use this guide to connect asset depletion loans eligibility, lender expectations, and local market factors before comparing payment options in Carmel-by-the-Sea.
Carmel By The Sea attracts wealthy retirees and executives who are cash-rich but income-poor on paper. Asset depletion loans were built for exactly this borrower.
This is a non-QM loan. That means it falls outside standard federal guidelines. Lenders set their own rules, so terms vary significantly.
Lenders divide your eligible liquid assets by a set number of months — often 60 to 84. That calculation becomes your qualifying monthly income.
Most big banks don't offer this product. It lives in the non-QM wholesale market, where specialty lenders compete on terms.
Rate spreads between lenders can be wide — half a point or more. Rates vary by borrower profile and market conditions. Shopping matters here.
The biggest mistake I see: borrowers liquidating assets to show cash before application. That can actually hurt your qualifying income calculation.
Keep assets in place and documented. Two to three months of statements per account is the standard ask. Gaps in documentation kill deals.
Bank statement loans work if you have business revenue. Asset depletion works when you have wealth but no active income stream.
If you own rental properties, a DSCR loan uses rental income instead. Asset depletion makes more sense when assets — not properties — are your foundation.
Carmel By The Sea properties routinely push into jumbo territory. Asset depletion lenders in the non-QM space often go well above conforming limits.
Many buyers here have sold businesses or inherited portfolios. Asset depletion is often the only clean path to financing without manufacturing income.
Savings, brokerage, and retirement accounts typically qualify. Real estate equity and business assets usually do not.
Yes, most lenders count retirement accounts. Some apply a haircut — discounting the value by 30% before the calculation.
Not necessarily. Some lenders qualify on assets alone. Others want to see at least minimal income alongside the asset calculation.
Non-QM lenders regularly go to $3M or more. The limit depends on your total assets and the lender's guidelines.
Yes, typically. Non-QM products carry a rate premium over conventional loans. Rates vary by borrower profile and market conditions.
Expect 30–45 days. Non-QM underwriting is manual, so documentation review takes longer than automated conventional processing.