Question 1

What assets count toward qualification in Marina?

Accepted Answer

Checking, savings, brokerage, and retirement accounts typically qualify. Real estate equity and business assets do not.

Question 2

Do I need any income at all for this loan?

Accepted Answer

No traditional income is required. Your assets are converted into a calculated monthly income figure by the lender.

Question 3

Can I use this loan to buy in Monterey County coastal areas?

Accepted Answer

Yes. Asset depletion loans work for primary residences, second homes, and investment properties across Monterey County.

Question 4

How much do I need in assets to qualify?

Accepted Answer

It depends on the loan amount and term used. More assets equal higher calculated income, which supports a larger loan.

Question 5

Is this loan harder to get approved than a conventional loan?

Accepted Answer

It requires more documentation and tighter credit standards. But for asset-rich borrowers, it's often the only program that works.

Question 6

How do rates compare to conventional loans?

Accepted Answer

Non-QM rates run higher than conventional. Rates vary by borrower profile and market conditions — get quotes before assuming.

Asset Depletion Loans in Marina, CA