Question 1

What assets count toward qualification?

Accepted Answer

Checking, savings, brokerage, and retirement accounts typically qualify. Retirement accounts are often discounted before the income calculation.

Question 2

Can I use this loan for a primary home in Los Alamitos?

Accepted Answer

Yes. Asset depletion works for primary residences, second homes, and investment properties depending on the lender.

Question 3

How much in assets do I need to qualify?

Accepted Answer

It depends on the loan amount and term. Lenders back-calculate the asset total needed to produce enough qualifying monthly income.

Question 4

Is asset depletion the same as stated income?

Accepted Answer

No. You still document everything — bank and brokerage statements, account ownership, balance history. Nothing is stated without proof.

Question 5

What credit score do lenders want for these loans?

Accepted Answer

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

Question 6

How is the qualifying income actually calculated?

Accepted Answer

Eligible assets are divided by the loan term in months — usually 360. That result becomes your monthly qualifying income for underwriting.

Asset Depletion Loans in Los Alamitos, CA