Question 1

What assets qualify for this loan in California?

Accepted Answer

Savings, brokerage, and retirement accounts typically qualify. Retirement funds are discounted. Physical property does not count.

Question 2

Do I need a job to get an asset depletion loan?

Accepted Answer

No. The whole point is to replace employment income with asset-based income. Retirees and investors use this program regularly.

Question 3

How is my income calculated with this loan?

Accepted Answer

Lenders divide total eligible assets by a set number of months. The result becomes your monthly qualifying income.

Question 4

Can I use this loan for a home in Gonzales?

Accepted Answer

Yes. Asset depletion loans work for primary residences, second homes, and investment properties in California.

Question 5

What credit score do I need?

Accepted Answer

Most lenders want 680 or higher for asset depletion loans. Some go lower, but rates will be higher.

Question 6

How long do assets need to be in my account?

Accepted Answer

Most lenders require 60 days of seasoning. Moving funds around right before applying can hurt your file.

Asset Depletion Loans in Gonzales, CA