Question 1

What assets qualify for asset depletion in Monterey?

Accepted Answer

Savings accounts, brokerage accounts, and retirement funds typically qualify. Illiquid assets like real estate equity usually do not count.

Question 2

Do I need any income at all to qualify?

Accepted Answer

No traditional income is required. The lender treats your asset draw-down calculation as your monthly income for qualifying purposes.

Question 3

What credit score do I need?

Accepted Answer

Most non-QM lenders want 680 or higher. Stronger credit means better rates and terms — rates vary by borrower profile and market conditions.

Question 4

Can I use an asset depletion loan for a jumbo purchase in Monterey?

Accepted Answer

Yes. Many non-QM lenders allow large loan amounts when your asset base is strong enough to support the income calculation.

Question 5

How is this different from a standard mortgage?

Accepted Answer

Standard loans require documented employment income. Asset depletion replaces that with a formula based on your liquid net worth.

Question 6

Are retirement accounts discounted in the calculation?

Accepted Answer

Often yes. Borrowers under 59½ may see accounts discounted 30–40%. Confirm with your lender before assuming full credit.

Asset Depletion Loans in Monterey, CA