Question 1

What asset types count toward qualification in Seaside?

Accepted Answer

Checking, savings, brokerage, and retirement accounts typically qualify. Retirement accounts are usually counted at 70% of their value.

Question 2

Can I use an asset depletion loan for a Seaside second home?

Accepted Answer

Yes. Asset depletion works for primary residences and second homes. Expect at least 20% down and stronger credit requirements for second homes.

Question 3

How long do assets need to be in my account before I apply?

Accepted Answer

Most lenders want 60-90 days of statements showing stable balances. Recent large transfers create underwriting problems.

Question 4

Are asset depletion loan rates higher than conventional rates?

Accepted Answer

Yes, non-QM products carry higher rates than conventional loans. Rates vary by borrower profile and market conditions.

Question 5

Can a retired buyer with no income use this loan in Monterey County?

Accepted Answer

Yes — that's the core use case. Sufficient liquid assets replace employment income for qualification purposes.

Question 6

Do I need to deplete my assets to repay the loan?

Accepted Answer

No. The calculation is a formula lenders use to qualify you. You keep your assets invested and repay the loan normally.

Asset Depletion Loans in Seaside, CA