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Fontana sits in San Bernardino County — one of the more affordable corners of Southern California. Retirees and asset-rich borrowers are buying here without traditional W-2 income.
Asset depletion loans let you qualify using liquid assets instead of a paycheck. Your portfolio does the work your tax return can't.
620+
Min Credit Score
60–90 Day Statements
Asset Documentation
None
Income Docs Required
20–30%
Typical Down Payment
360 Months
Loan Term Divisor
Lenders take your eligible liquid assets and divide them over a set term — typically 360 months. That monthly figure becomes your qualifying income.
You generally need strong credit and significant reserves. Most lenders want at least 620, and your assets must be documented and verifiable.
Most retail banks won't touch asset depletion loans. These are non-QM products — they live in the wholesale and private lending space.
HousingWire flagged Pennymac TPO expanding into non-QM with an asset qualifier product. More competition means more options for borrowers. Rates vary by borrower profile and market conditions.
I see this loan used most by retirees, business owners, and divorcees with settlement assets. They have real wealth — just not W-2 income.
Asset type matters a lot. Checking and savings count at full value. IRAs and 401(k)s often get a haircut. Crypto rarely qualifies. Get your statements organized before you apply.
Bank statement loans work if you have business income showing up in deposits. Asset depletion works when income is low but the balance sheet is strong.
DSCR loans require rental income from a property. Asset depletion doesn't need any income at all — just documented assets. Different tool, different borrower.
Fontana draws retirees relocating from higher-cost LA and Orange County. They often sell a home and land with significant cash — a perfect setup for asset depletion.
San Bernardino County has no local transfer tax beyond the state standard. That keeps closing costs lower, which matters when you're structuring a non-QM deal carefully.
Checking, savings, money market, and investment accounts typically qualify. Retirement accounts count at a discount — usually 60–70% of the balance.
They divide eligible assets by the loan term in months — often 360. That monthly figure is your qualifying income on the application.
No. You don't spend or liquidate them. Lenders just use the balance to calculate income. The assets stay in your account.
Most non-QM lenders want at least 620. Better pricing and loan terms kick in at 700 and above.
Yes. Some lenders allow it, though terms are stricter. A DSCR loan may be a cleaner fit if the property generates rental income.
Bank statement loans qualify you on business deposits. Asset depletion uses your balance sheet — no income deposits required at all.
Asset Depletion Loans in Fontana