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Pacific Grove attracts retirees and high-net-worth buyers who don't fit the W-2 mold. Asset depletion loans exist precisely for this profile.
You have the wealth to buy here. The challenge is proving it to a conventional lender. Asset depletion solves that problem directly.
680 (typical)
Min Credit Score
60–84 months
Asset Depletion Term
None (asset-based)
Income Docs Required
20% or more
Typical Down Payment
Non-QM
Loan Type
Asset Depletion Loans in Pacific Grove
Lenders divide your eligible liquid assets by a set number of months — typically 60 to 84 — to calculate a monthly income figure.
Eligible assets usually include checking, savings, brokerage accounts, and vested retirement funds. Real estate equity rarely counts.
Local decision guide
Use this guide to connect asset depletion loans eligibility, lender expectations, and local market factors before comparing payment options in Pacific Grove.
Pacific Grove attracts retirees and high-net-worth buyers who don't fit the W-2 mold. Asset depletion loans exist precisely for this profile.
You have the wealth to buy here. The challenge is proving it to a conventional lender. Asset depletion solves that problem directly.
Lenders divide your eligible liquid assets by a set number of months — typically 60 to 84 — to calculate a monthly income figure.
Asset depletion is a non-QM product. Your bank almost certainly doesn't offer it. You need a wholesale lender with a specific non-QM shelf.
Guidelines differ significantly between lenders — asset types accepted, depletion formulas, and reserve requirements all vary. Shopping matters here.
The deal I see killed most often: a borrower with $3M in assets but $200K locked in an illiquid annuity. That $200K won't count.
Before you apply, get a clear accounting of what's liquid and accessible. Then we match the asset mix to the lender with the best formula.
Bank statement loans work if you have self-employment income flowing through accounts. Asset depletion works when the income has stopped or never existed.
DSCR loans cover investment property using rental income. Asset depletion covers your primary or second home using your net worth. Different tools.
Pacific Grove's coastal homes carry premium price tags. Asset depletion loans frequently fund jumbo amounts, which fits this market well.
Many buyers here are relocating from out of state or downsizing from larger California metros. They're asset-rich and income-light — exactly the borrower this loan serves.
Checking, savings, brokerage, and vested retirement accounts typically qualify. Illiquid assets like real estate equity or annuities usually don't.
Yes. Second homes are a common use case. Expect a larger down payment and stricter reserve requirements than a primary residence.
Most non-QM lenders want at least a 680. Higher scores get better rates. Rates vary by borrower profile and market conditions.
They divide eligible assets by a set term — often 60 to 84 months. That monthly figure becomes your qualifying income.
No. You must document and verify every asset. Nothing is stated — it's fully verified, just calculated differently than employment income.
Loan amounts depend on your asset total and the lender's formula. Jumbo amounts are available. Rates vary by borrower profile and market conditions.