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Nevada City attracts retirees, remote workers, and business owners sitting on real assets. Traditional income docs often don't reflect their actual financial strength.
Asset depletion loans — also called asset dissipation loans — let lenders count your liquid assets as income. No W-2 required. No pay stubs.
Typically 680+
Min Credit Score
~70% of value
Retirement Account Count
30–45 days
Est. Close Time
Primary, 2nd, Investment
Loan Types
Non-QM / varies
Rate Type
Asset Depletion Loans in Nevada City
Lenders divide your eligible assets by a set number of months — typically 60 to 360. That figure becomes your monthly income for qualification.
Eligible assets usually include checking, savings, brokerage, and retirement accounts. Vested stock and mutual funds often count too. Real estate equity typically does not.
Local decision guide
Use this guide to connect asset depletion loans eligibility, lender expectations, and local market factors before comparing payment options in Nevada City.
Nevada City attracts retirees, remote workers, and business owners sitting on real assets. Traditional income docs often don't reflect their actual financial strength.
Asset depletion loans — also called asset dissipation loans — let lenders count your liquid assets as income. No W-2 required. No pay stubs.
Lenders divide your eligible assets by a set number of months — typically 60 to 360. That figure becomes your monthly income for qualification.
Big banks rarely offer this program. It lives in the non-QM wholesale market — which is exactly where we shop for Nevada City borrowers.
Pricing varies sharply across lenders. One lender may require 24 months reserves. Another requires 6. We compare those terms across 200+ wholesale options.
The most common mistake I see: borrowers trying this loan with assets they can't easily document. Lenders want 2-3 months of statements showing the balance.
Retirement accounts get a haircut — usually 30%. A $1M IRA might qualify as $700K in assets. Plan your numbers before you fall in love with a property.
Bank statement loans work better if you have active business income. Asset depletion works better if your money sits in accounts, not flowing through a business.
DSCR loans are investment-property-only. Asset depletion can finance a primary residence, second home, or rental — making it the more flexible non-QM option for most Nevada City buyers.
Nevada City draws a high concentration of early retirees and self-employed creatives. Many have substantial assets and minimal reported income — a textbook fit for this loan.
Nevada County's foothill properties can include cabins, second homes, and rural parcels. Asset depletion works across those property types when the asset math pencils out.
It depends on the purchase price and loan amount. More assets create more monthly income — your broker can run the numbers fast.
Some lenders allow it if you have unrestricted access to the funds. You'll need full trust documentation at underwriting.
Yes. Asset depletion works for second homes and investment properties, not just primary residences.
Most non-QM lenders start at 680. A stronger score can improve your rate and reserve requirements.
Plan for 30-45 days. Documentation gathering — especially on multiple accounts — is often the slowest part.