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Asset Depletion Loans in Marina
Marina buyers with substantial liquid assets often don't qualify through traditional channels. Retirees, entrepreneurs, and investors holding significant portfolios get denied despite having millions in the bank.
Asset depletion loans convert your investment accounts into qualifying income. A borrower with $2M in assets can qualify for roughly $6,500/month in calculated income without touching their principal.
This approach works particularly well for Marina's Fort Ord reuse area buyers. Those purchasing newer construction near UC Monterey Bay often have tech exits or inherited wealth but inconsistent W-2 income.
Lenders require $500,000 minimum in liquid assets after down payment and reserves. Credit scores start at 680 for most programs, with 720+ opening better rate tiers.
Your assets get divided by 360 months to calculate qualifying income. That $1.5M portfolio becomes $4,166/month on paper, regardless of what you actually earn from work.
You'll need 20-30% down for primary residences in Marina. Investment properties require 25-35% down depending on credit profile and total asset position.
We access 15-20 asset depletion lenders through our wholesale network. Each calculates depletion differently—some exclude retirement accounts, others include them at reduced percentages.
Rates currently range from 7.25% to 9.5% depending on asset level and property type. Rates vary by borrower profile and market conditions, but expect 1-2% above conventional pricing.
Lenders scrutinize asset seasoning heavily. That $2M needs to show 60 days in your accounts, not transferred last week from your cousin's business.
Most Marina buyers discover asset depletion after getting denied for conventional loans. We see this weekly—clients with $3M liquid who can't document stable employment.
Lender choice makes a massive difference here. Some allow 100% of stock portfolios, others cap equities at 70%. On a $1.5M asset base, that's the difference between qualifying or not.
We structure these deals to minimize monthly depletion calculations. Parking more cash upfront for a larger down payment often beats keeping reserves if it drops your loan amount significantly.
Bank statement loans work better if you have business revenue flowing through accounts. Asset depletion makes sense when your wealth is parked, not circulating.
DSCR loans beat asset depletion for Marina investment properties with rental income. Why deplete assets when rent can qualify you at better rates?
Foreign national loans require similar down payments but don't need US credit. If you're qualifying through assets anyway, compare both programs before choosing.
Marina's median home prices sit below neighboring Seaside and Pacific Grove. Asset depletion buyers often target the newer neighborhoods near Imjin Parkway where properties list between $600K-$900K.
The city's proximity to Monterey Peninsula makes it attractive for second homes. We structure many Marina deals as vacation properties for Bay Area buyers with stock portfolios.
Fort Ord cleanup areas require additional lender scrutiny. Some asset depletion lenders restrict financing on former military land, narrowing your options by 30-40%.
Checking, savings, stocks, bonds, and mutual funds all qualify. Retirement accounts work at most lenders but often calculate at 60-70% of actual value due to early withdrawal penalties.
Yes, but expect 25-35% down and higher rates. Most borrowers choose DSCR loans for rentals since they're cheaper when the property generates income.
Plan for 25-35 days from application to closing. Asset verification adds a week versus conventional loans since underwriters audit multiple account statements.
Yes, typically 6-12 months of principal, interest, taxes, and insurance. Those reserves sit on top of your minimum $500K asset requirement.
Both spouses can apply jointly and combine asset totals. The higher credit score between you typically determines rate, while assets aggregate for income calculation.
Mortgage financing for independent contractors and freelancers who earn 1099 income instead of traditional W-2 wages.
Non-QM loans that use 12 to 24 months of bank statements to verify income for self-employed borrowers.
Short-term financing that bridges the gap between buying a new property and selling an existing one.
Debt Service Coverage Ratio loans that qualify investors based on a rental property's income rather than personal income.
Mortgage programs designed for non-US citizens and non-permanent residents who want to purchase property in the United States.
Asset-based short-term loans primarily used by real estate investors for property acquisition and renovation projects.
Mortgages that allow borrowers to pay only the interest for an initial period, resulting in lower monthly payments upfront.
Financing solutions tailored for real estate investors purchasing rental properties, fix-and-flip projects, or investment portfolios.
Home loans for borrowers who have an Individual Taxpayer Identification Number instead of a Social Security number.
Adjustable rate mortgages held in a lender's portfolio rather than sold on the secondary market, offering more flexible terms.
Non-QM mortgages that use a CPA-prepared profit and loss statement to verify income for self-employed borrowers.
Home loans with interest rates that adjust periodically based on market conditions after an initial fixed-rate period.
Specialized mortgage programs designed to support homeownership in underserved communities with flexible qualification criteria.
Mortgages that meet the guidelines and loan limits set by Fannie Mae and Freddie Mac for secondary market purchase.
Financing for building a new home or making major renovations, typically converting to a permanent mortgage upon completion.
Traditional mortgage financing not backed by a government agency, offering flexible terms and competitive rates for qualified borrowers.
Innovative loan products that leverage projected home equity growth to provide favorable financing terms.
Government-insured mortgages from the Federal Housing Administration with low down payments and flexible credit requirements.
A revolving line of credit secured by your home equity that allows you to borrow funds as needed during a draw period.
A fixed-rate second mortgage that provides a lump sum of cash by borrowing against the equity built in your home.
Mortgages that exceed the conforming loan limits set by the FHFA, designed for financing high-value luxury properties.
Loans for homeowners aged 62 and older that convert home equity into cash without requiring monthly mortgage payments.
Government-backed zero down payment mortgages for eligible rural and suburban homebuyers who meet income limits.
Government-guaranteed mortgages for eligible veterans, active-duty service members, and surviving spouses with zero down payment.