Loading
Loading
Sand City sits in Monterey County — a coastal market where high-net-worth buyers are common. Many have significant assets but no traditional W-2 income.
Asset depletion loans convert liquid assets into qualifying income. Retirees and investors often need exactly this structure to close here.
Typically 680+
Min Credit Score
Usually 20%+
Down Payment
None
Income Docs Required
2-6 months
Asset Statements Needed
Non-QM
Loan Type
Asset Depletion Loans in Sand City
Lenders divide your liquid assets by a set number of months — often 60 to 360 — to calculate monthly income. That number must support the loan payment.
Eligible assets typically include checking, savings, brokerage, and retirement accounts. Illiquid assets like real estate equity usually don't count.
Local decision guide
Use this guide to connect asset depletion loans eligibility, lender expectations, and local market factors before comparing payment options in Sand City.
Sand City sits in Monterey County — a coastal market where high-net-worth buyers are common. Many have significant assets but no traditional W-2 income.
Asset depletion loans convert liquid assets into qualifying income. Retirees and investors often need exactly this structure to close here.
Lenders divide your liquid assets by a set number of months — often 60 to 360 — to calculate monthly income. That number must support the loan payment.
Asset depletion is a non-QM product. Most retail banks won't touch it. You need wholesale lenders who specialize in non-QM underwriting.
We work with 200+ wholesale lenders, and asset depletion programs vary widely. One lender may use 60-month division; another uses 360. That gap changes your qualifying income dramatically.
The biggest mistake I see: buyers assume all assets count. Vested 401k funds may be discounted 30-40% by some lenders. Know what's countable before you calculate.
Asset documentation has to be airtight. Two months of statements is standard, but some lenders want three to six. Get your paperwork in order early.
Bank statement loans work better for self-employed borrowers with actual business cash flow. Asset depletion is the right tool when income truly doesn't exist on paper.
DSCR loans are a stronger fit for rental property investors. Asset depletion is for personal residences or second homes where rental income isn't the angle.
Sand City's proximity to Monterey's luxury coastal corridor means property values run high. Larger loan balances make the asset calculation more demanding.
Monterey County attracts tech retirees and investors from the Bay Area. Many arrive with large portfolios and zero current employment. Asset depletion was built for this buyer.
Checking, savings, and brokerage accounts typically qualify. Retirement accounts may count at a discount depending on the lender.
Yes. Asset depletion works for primary residences and second homes. Investment properties have fewer lender options.
Most lenders start at 680 for asset depletion. Higher scores get better rates. Rates vary by borrower profile and market conditions.
That depends on the loan size and the lender's divisor formula. A broker can run the math before you apply.
Rarely. This is a non-QM product that lives in the wholesale lending market, not at retail branches.
Bank statement loans require documented cash flow. Asset depletion requires no income at all — just verified liquid assets.