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Asset Depletion Loans in San Juan Bautista
San Juan Bautista's historic charm attracts retirees and investors with substantial savings. Asset depletion loans let you qualify based on liquid assets, not paychecks.
This program works well in small markets where buyers often have non-traditional income. Your bank and brokerage accounts become your qualification path.
Lenders divide your total liquid assets by 360 months to calculate monthly income. You need significant cash or investments to qualify for most loan amounts.
Expect 20-30% down minimum. Credit scores typically need to hit 680 or higher, though some programs accept 660 with compensating factors.
Most conventional lenders won't touch asset depletion deals. You need specialized non-QM lenders who understand these calculations and accept portfolio-based qualification.
Rates run 1-2% higher than conventional loans. Closing costs include more documentation verification since lenders scrutinize every asset statement.
I see retirees with $2M portfolios struggle with this concept initially. The math is straightforward: $720K in verified assets gives you $2K monthly qualifying income.
Don't liquidate retirement accounts before talking to us. Many lenders count 401(k)s and IRAs at 70% of value with no early withdrawal penalty.
Bank statement loans work better if you run business income through accounts. Asset depletion makes sense when your wealth sits in investments, not checking accounts.
DSCR loans beat asset depletion for rental properties. Foreign national programs offer similar asset-based qualification but accept offshore accounts.
San Juan Bautista's tight inventory means sellers often prefer conventional buyers. An asset depletion approval letter needs clear documentation showing your financial strength.
Properties here rarely break $1M, which helps your asset calculation. You need roughly $500K liquid to qualify for a $700K purchase with 25% down.
Checking, savings, money markets, stocks, bonds, and most mutual funds qualify. Retirement accounts count at 60-70% of value.
With 25% down, you'd borrow $450K. Lenders want monthly income around $4,500, requiring roughly $1.6M in verified liquid assets.
Yes. Social Security, pensions, and rental income stack with your calculated asset income to increase buying power.
Absolutely. Expect to provide updated statements right before closing. Assets must remain in accounts through funding.
Both borrowers' assets combine for qualification. Community property rules in California help married couples pool resources.
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.