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Canyon Lake is a private, gated community in Riverside County. Buyers here often have significant wealth but irregular or retired income.
Asset depletion loans are built for exactly this profile. Your brokerage accounts and savings can replace a W-2 in the lender's eyes.
Typically 660+
Min Credit Score
Often 20%+
Down Payment
21–30 days
Est. Close Time
Non-QM
Loan Type
Assets only
Income Requirement
Lenders divide your eligible assets by a set term — usually 60 to 360 months. That number becomes your qualifying monthly income.
Eligible assets typically include checking, savings, and investment accounts. Retirement accounts may count at a discounted rate. Illiquid assets like real estate equity usually don't count.
Asset depletion is a non-QM product. Your local bank almost certainly doesn't offer it. You need a lender that specifically underwrites to asset-based income.
At SRK CAPITAL, we shop this across 200+ wholesale lenders. Pricing and asset calculation methods vary significantly between them. That gap matters to your approval.
The biggest mistake I see: buyers assume all assets count equally. They don't. A lender might credit 100% of your brokerage account but only 60% of your IRA.
Asset documentation is everything on these files. You'll need 60–90 days of statements for each account. Gaps or large unexplained deposits slow things down fast.
Bank statement loans work better if you still run a business and can show consistent deposits. Asset depletion fits buyers with no active income at all.
DSCR loans are investor-focused and based on rental income, not personal assets. If Canyon Lake is a primary residence purchase, DSCR isn't the right tool.
Canyon Lake's HOA structure and private community status can complicate appraisals. Some lenders get cautious on non-QM loans in gated communities with limited comps.
Riverside County property taxes and HOA dues factor into your debt-to-income ratio. Even with strong assets, high carrying costs can affect how much you qualify for.
It depends on the purchase price and loan term. Most lenders want enough assets to cover the loan amount plus reserves after closing.
Yes, but typically at 60–70% of their value. Lenders discount them to account for early withdrawal penalties and taxes.
Yes. Asset depletion works for primary residences, second homes, and investment properties. Requirements vary by occupancy type.
It's a different process, not necessarily harder. Strong assets and clean credit often make these files straightforward for experienced non-QM lenders.
Most non-QM lenders start at 660. Some go lower with a larger down payment or higher asset reserves. Rates vary by borrower profile and market conditions.
Non-QM loans typically close in 21–30 days. Having complete asset documentation ready from day one speeds things up significantly.
Asset Depletion Loans in Canyon Lake