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Twentynine Palms sits next to the Marine Corps Air Ground Combat Center. That means a steady mix of retirees, veterans, and cash-rich buyers who don't show much W-2 income.
Asset depletion loans let you qualify using liquid assets — savings, brokerage accounts, retirement funds — instead of a paycheck. No job required.
640+
Min Credit Score
20% typical
Down Payment
Non-QM pricing
Rate Type
Divided over 360 mo
Asset Calculation
Non-QM
Loan Category
Lenders take your total liquid assets and divide them over a loan term — typically 360 months. That monthly figure becomes your qualifying income.
Most lenders want a 640+ credit score and 20% down. Reserves matter a lot here. The more you hold after closing, the stronger your file.
Big retail banks rarely offer asset depletion programs. Most of this lending lives in the non-QM wholesale channel — exactly where we operate.
We work with 200+ wholesale lenders. Several specialize in asset depletion. Rates and asset calculation methods vary widely between them. Shopping matters.
Bankrate's latest survey shows 30-year rates at 6.27% — and non-QM rates run higher than that. Asset depletion pricing reflects the added risk lenders take on. Rates vary by borrower profile and market conditions.
The biggest mistake I see: borrowers draining accounts to cover the down payment. That wipes out the asset base you need to qualify. Keep your liquidity intact.
If you have documented self-employment deposits, a bank statement loan might price better. Both are non-QM, but bank statement programs are more common and competitive.
DSCR loans work if you're buying a rental property. Asset depletion fits owner-occupied purchases or second homes where rental income isn't part of the picture.
Twentynine Palms has a high concentration of military-connected buyers. Many retired officers carry pension income plus substantial savings — a strong asset depletion profile.
The area also draws desert property investors and second-home buyers from LA. Cash-heavy buyers with minimal W-2 income are common here. Asset depletion was built for this buyer.
Checking, savings, and brokerage accounts typically count at full value. Retirement accounts usually count at 70% to account for early withdrawal penalties.
Yes, most lenders allow retirement accounts. They typically apply a 70% haircut to the balance before calculating your qualifying income.
No. Lenders calculate a hypothetical monthly income from your balance. You never have to liquidate the accounts to qualify.
Bank statement loans use deposit history as income. Asset depletion uses your total holdings. If you have assets but few deposits, asset depletion is the better path.
Most lenders require 640 minimum. Stronger scores above 700 open more programs and better pricing.
Yes. Asset depletion works for primary residences and second homes. Investment properties can also qualify, though terms differ.
Asset Depletion Loans in Twentynine Palms