Question 1

What types of assets qualify for asset depletion loans?

Accepted Answer

Checking, savings, brokerage, and money market accounts typically qualify. Retirement accounts often count at 70% of their value.

Question 2

Do I need any income at all to qualify?

Accepted Answer

No employment income is required. Your assets are converted into a calculated monthly income figure used for qualification.

Question 3

How long do assets need to be seasoned?

Accepted Answer

Most lenders want 60 days of account statements showing the funds. Sudden large deposits raise red flags.

Question 4

Is asset depletion available for Mission Viejo condos?

Accepted Answer

Yes, but condo projects must meet lender approval requirements. HOA financials and occupancy ratios matter.

Question 5

How does asset depletion compare to a cash-out refinance?

Accepted Answer

Asset depletion lets you keep assets invested while still qualifying. A cash-out refi requires you to already own a property.

Question 6

Can I use a joint account for asset depletion?

Accepted Answer

Usually yes, but lenders may require all account holders to be on the loan. Confirm with your broker before applying.

Asset Depletion Loans in Mission Viejo, CA