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Norco's equestrian properties and larger lots attract retirees and business owners with significant assets but irregular income streams. Asset depletion loans let you qualify based on what you own, not what you earn monthly.
We see these loans work well for Norco buyers who've sold businesses, received inheritances, or built wealth through investments. Your portfolio becomes your income for approval purposes.
Asset Depletion Loans in Norco
Lenders divide your total liquid assets by 360 months to create a monthly income figure. You need substantial accounts—typically $500K minimum for most lenders, though requirements vary.
Credit scores of 680+ work best. Expect 20-30% down payments. The more assets you show, the stronger your application looks to underwriters.
Local decision guide
Use this guide to connect asset depletion loans eligibility, lender expectations, and local market factors before comparing payment options in Norco.
Norco's equestrian properties and larger lots attract retirees and business owners with significant assets but irregular income streams. Asset depletion loans let you qualify based on what you own, not what you earn monthly.
We see these loans work well for Norco buyers who've sold businesses, received inheritances, or built wealth through investments. Your portfolio becomes your income for approval purposes.
Lenders divide your total liquid assets by 360 months to create a monthly income figure. You need substantial accounts—typically $500K minimum for most lenders, though requirements vary.
Not every lender offers asset depletion programs, and those that do have wildly different asset calculation methods. Some count 70% of retirement accounts, others exclude them entirely.
We access 200+ wholesale lenders and know exactly which ones accept specific asset types. One lender might approve your case while three others decline—it's that program-specific.
The biggest mistake is not planning for asset depletion before you need it. If you're within six months of buying, start organizing account statements now—lenders want two months of recent documentation.
Norco's horse properties often require larger loans. We've closed asset depletion deals here where borrowers had $2M+ in accounts but zero employment income. Those cases need lenders comfortable with high loan amounts against illiquid real estate.
Bank statement loans work better if you have business income but messy tax returns. Asset depletion makes sense when you truly lack ongoing income or your assets dwarf your earnings.
Foreign national loans require different documentation but also skip U.S. tax returns. The choice depends on citizenship status and where your assets sit. We compare all three for every client.
Norco's rural character means fewer comps and longer appraisal timelines. Asset depletion lenders already price higher risk—add an equestrian property, and some won't touch the deal at all.
We work with lenders who understand Riverside County's horse community. They've seen enough Norco properties to feel comfortable with larger lots and specialty improvements like arenas and barns.
Most lenders accept checking, savings, stocks, bonds, and mutual funds at full value. Retirement accounts like IRAs and 401(k)s typically count at 60-70% due to tax penalties on early withdrawal.
Rarely. Most asset depletion programs require 20-30% down as risk offset. Lower down payments dramatically shrink your lender options in this space.
Expect 1-2% higher than conventional rates. Asset depletion is non-QM lending, which carries portfolio risk. Rates vary by borrower profile and market conditions.
No. Lenders verify account balances but don't require you to sell anything. The assets just need to exist in liquid form when you apply and close.
Depends on the lender. Some cap at $1M loan amounts or 5 acres. We know which portfolio lenders handle larger equestrian estates with asset depletion programs.