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Westminster sits in Orange County — one of California's most expensive housing markets. Retirees and asset-rich buyers here often can't qualify the traditional way.
Asset depletion loans let you qualify using liquid assets — think savings, investment accounts, or retirement funds — instead of a W-2 or pay stub.
620–680 typical
Min Credit Score
60–84 months
Asset Spread
12+ months required
Post-Close Reserves
Non-QM
Loan Type
Vary by profile
Rates
Asset Depletion Loans in Westminster
Lenders divide your eligible assets by a set number of months — typically 60 to 84 — to calculate a monthly income figure. That number is what gets you approved.
Most programs want at least 12 months of reserves after closing. Credit requirements vary, but plan for 680 or higher with most wholesale lenders.
Local decision guide
Use this guide to connect asset depletion loans eligibility, lender expectations, and local market factors before comparing payment options in Westminster.
Westminster sits in Orange County — one of California's most expensive housing markets. Retirees and asset-rich buyers here often can't qualify the traditional way.
Asset depletion loans let you qualify using liquid assets — think savings, investment accounts, or retirement funds — instead of a W-2 or pay stub.
Lenders divide your eligible assets by a set number of months — typically 60 to 84 — to calculate a monthly income figure. That number is what gets you approved.
Asset depletion is a non-QM product. Big banks rarely offer it. You need wholesale lenders who specialize in non-agency programs.
At SRK CAPITAL, we work with 200+ wholesale lenders. That reach matters here — asset depletion guidelines vary dramatically between lenders.
The biggest mistake I see: borrowers counting 401(k) or IRA assets at full value. Most lenders discount retirement accounts by 30% before the calculation.
Taxable brokerage and savings accounts count at full face value. Structure your asset documentation around those first — it produces a stronger income number.
Bank statement loans work better if you're still running a business with active cash flow. Asset depletion fits buyers who are done working and sitting on wealth.
DSCR loans are for investment properties using rental income. Asset depletion works on primary residences and second homes — a key distinction in Westminster.
Westminster has a large Vietnamese-American community, and many buyers here hold significant assets across multiple account types — domestic and abroad. That mix requires careful documentation.
Foreign-held assets are a common issue. Most U.S. lenders won't count funds held in overseas accounts. We help clients identify which assets are eligible before applying.
Savings, checking, brokerage, and retirement accounts typically qualify. Retirement funds are usually discounted before the income calculation.
Sometimes yes — if you have full control and access to those funds. Lenders require full trust documentation to verify that access.
Most U.S. lenders won't accept overseas accounts. Assets need to be held domestically and verified with U.S.-standard statements.
Non-QM asset depletion loans can go into jumbo territory. Eligible amounts depend on your asset base and lender-specific guidelines.
Most lenders require statements dated within 60 to 90 days of your application. Older statements will be rejected.
Yes. Many Westminster buyers use this program for second homes. Primary residences also qualify under most non-QM programs.