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Asset Depletion Loans in Colfax
Colfax draws retirees and asset-rich buyers who don't fit W-2 lending boxes. Traditional lenders reject them despite seven-figure portfolios.
Asset depletion mortgages convert your investment accounts into qualifying income. A $2 million portfolio becomes $6,900 monthly income over 360 months.
This approach works for Colfax's mountain properties where traditional appraisals and income verification create friction. Rural character meets non-traditional finance.
You need $500,000 minimum in verifiable liquid assets after closing. Stocks, bonds, mutual funds, and savings accounts all count.
Credit scores start at 660 for most lenders. Down payments run 20-30% depending on asset strength and property type.
Lenders divide your total assets by the loan term to create monthly income. Seasonal assets or restricted accounts don't qualify.
Asset depletion sits in the non-QM space where wholesale lenders vary wildly on terms. Rate spreads between best and worst pricing exceed 2 points.
Some lenders use 84-month depletion schedules instead of 360, creating higher qualifying income. Others require 40% down versus 20%.
We track 23 asset depletion programs across our wholesale network. The matching work happens behind the scenes before you see options.
Asset depletion beats bank statement loans when you have investments but irregular distributions. I see this with tech exits and inherited portfolios.
Colfax properties often appraise conservatively due to limited comps. Asset buyers absorb this better since they're not stretching debt ratios.
Request lender asset calculation worksheets upfront. Different depletion methods change your qualifying power by $2,000+ monthly.
Bank statement loans require two years of business deposits. Asset depletion needs zero income documentation beyond account statements.
Foreign national programs allow financing with offshore assets but require 30-40% down. Asset depletion offers better leverage for US account holders.
DSCR loans work when buying rentals. Asset depletion works when buying your Colfax primary with retirement funds.
Colfax sits in Placer County's foothills where fire insurance costs affect approval. Lenders verify coverage availability before closing.
Septic systems and well water appear frequently here. Asset depletion lenders handle these rural features better than retail banks.
Properties off Interstate 80 corridor move slower. Asset buyers don't face job relocation urgency that sinks traditional timelines.
Stocks, bonds, mutual funds, money markets, and savings accounts qualify. Retirement accounts like IRAs work but face penalties in lender math.
Most programs limit asset depletion to primary and second homes. Investment properties need DSCR loans instead.
Appraisers pull comps from wider radius due to inventory limits. This creates variance that asset buyers handle better than stretched W-2 borrowers.
Rates run 1-2.5% above conforming loans depending on credit and assets. Rates vary by borrower profile and market conditions.
No tax returns required. Lenders verify assets through statements showing 60-90 day history and current balances.
Mortgage financing for independent contractors and freelancers who earn 1099 income instead of traditional W-2 wages.
Non-QM loans that use 12 to 24 months of bank statements to verify income for self-employed borrowers.
Short-term financing that bridges the gap between buying a new property and selling an existing one.
Debt Service Coverage Ratio loans that qualify investors based on a rental property's income rather than personal income.
Mortgage programs designed for non-US citizens and non-permanent residents who want to purchase property in the United States.
Asset-based short-term loans primarily used by real estate investors for property acquisition and renovation projects.
Mortgages that allow borrowers to pay only the interest for an initial period, resulting in lower monthly payments upfront.
Financing solutions tailored for real estate investors purchasing rental properties, fix-and-flip projects, or investment portfolios.
Home loans for borrowers who have an Individual Taxpayer Identification Number instead of a Social Security number.
Adjustable rate mortgages held in a lender's portfolio rather than sold on the secondary market, offering more flexible terms.
Non-QM mortgages that use a CPA-prepared profit and loss statement to verify income for self-employed borrowers.
Home loans with interest rates that adjust periodically based on market conditions after an initial fixed-rate period.
Specialized mortgage programs designed to support homeownership in underserved communities with flexible qualification criteria.
Mortgages that meet the guidelines and loan limits set by Fannie Mae and Freddie Mac for secondary market purchase.
Financing for building a new home or making major renovations, typically converting to a permanent mortgage upon completion.
Traditional mortgage financing not backed by a government agency, offering flexible terms and competitive rates for qualified borrowers.
Innovative loan products that leverage projected home equity growth to provide favorable financing terms.
Government-insured mortgages from the Federal Housing Administration with low down payments and flexible credit requirements.
A revolving line of credit secured by your home equity that allows you to borrow funds as needed during a draw period.
A fixed-rate second mortgage that provides a lump sum of cash by borrowing against the equity built in your home.
Mortgages that exceed the conforming loan limits set by the FHFA, designed for financing high-value luxury properties.
Loans for homeowners aged 62 and older that convert home equity into cash without requiring monthly mortgage payments.
Government-backed zero down payment mortgages for eligible rural and suburban homebuyers who meet income limits.
Government-guaranteed mortgages for eligible veterans, active-duty service members, and surviving spouses with zero down payment.