Question 1

What assets qualify for asset depletion in California?

Accepted Answer

Checking, savings, brokerage, and vested retirement accounts typically qualify. Illiquid assets like real estate equity or annuities usually don't.

Question 2

Can I use an asset depletion loan to buy a second home in Pacific Grove?

Accepted Answer

Yes. Second homes are a common use case. Expect a larger down payment and stricter reserve requirements than a primary residence.

Question 3

What credit score do I need?

Accepted Answer

Most non-QM lenders want at least a 680. Higher scores get better rates. Rates vary by borrower profile and market conditions.

Question 4

How does the lender calculate my income from assets?

Accepted Answer

They divide eligible assets by a set term — often 60 to 84 months. That monthly figure becomes your qualifying income.

Question 5

Is asset depletion the same as a stated income loan?

Accepted Answer

No. You must document and verify every asset. Nothing is stated — it's fully verified, just calculated differently than employment income.

Question 6

How much can I borrow with an asset depletion loan in Pacific Grove?

Accepted Answer

Loan amounts depend on your asset total and the lender's formula. Jumbo amounts are available. Rates vary by borrower profile and market conditions.

Asset Depletion Loans in Pacific Grove, CA