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King City sits in the Salinas Valley — agricultural country where cash-heavy buyers are common. Retiring farmers, landowners, and investors often have significant assets but little W-2 income.
Asset depletion loans convert your liquid assets into qualifying income. No job required. No pay stubs needed.
620–680 typical
Min Credit Score
Divide by 60–84 months
Asset Formula
20%+ typically required
Down Payment
21–30 days
Est. Close Time
Non-QM
Loan Type
Asset Depletion Loans in King City
Lenders divide your eligible liquid assets by a set number of months — typically 60 to 84 — to calculate monthly income. That number is what gets you approved.
Retirement accounts, brokerage accounts, and savings all count. Most lenders require a minimum credit score around 620 to 680 and a down payment of at least 20%.
Local decision guide
Use this guide to connect asset depletion loans eligibility, lender expectations, and local market factors before comparing payment options in King City.
King City sits in the Salinas Valley — agricultural country where cash-heavy buyers are common. Retiring farmers, landowners, and investors often have significant assets but little W-2 income.
Asset depletion loans convert your liquid assets into qualifying income. No job required. No pay stubs needed.
Lenders divide your eligible liquid assets by a set number of months — typically 60 to 84 — to calculate monthly income. That number is what gets you approved.
Asset depletion is a non-QM product. That means retail banks rarely offer it. You need access to wholesale non-QM lenders — and there are meaningful differences between them.
Some lenders discount retirement accounts by 30% before calculating income. Others use full value. That gap directly changes what you can borrow. Lender selection matters here more than on conventional loans.
We see asset depletion work best for retired borrowers with $1M+ in liquid accounts. Below that threshold, the math often doesn't produce enough qualifying income for Monterey County price points.
Document your assets carefully. Lenders want 2–3 months of statements for every account you're using. Gaps or inconsistencies in paperwork slow approvals — sometimes kill them entirely.
Bank statement loans work if you run a business with regular deposits. Asset depletion loans work when income is minimal but your balance sheet is strong. They solve different problems.
DSCR loans serve rental property investors using rent income. Asset depletion serves buyers whose wealth is in savings or investments — not cash flow. Know which profile fits you before you apply.
King City's agricultural economy produces borrowers who don't fit conventional lending. Multi-generational farming families selling land often hold significant liquid assets after the transaction closes.
Monterey County's rural character means fewer competing lenders. Working with a broker who shops non-QM wholesale gives you options that a local bank branch simply cannot match.
Checking, savings, brokerage, and retirement accounts all count. Most lenders require assets to be fully vested and accessible.
Yes. Some lenders will combine asset depletion income with partial self-employment income. That can increase your qualifying amount significantly.
It depends on the loan amount. The lender divides your assets by 60–84 months — that monthly figure must meet their debt-to-income requirement.
Rates run higher than conventional — this is non-QM lending. Rates vary by borrower profile and market conditions.
Usually yes, but many lenders apply a 30%–40% haircut to retirement accounts. A broker can find lenders with more favorable treatment.
Non-QM loans typically close in 21–30 days. Clean documentation up front is the biggest factor in hitting that timeline.