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Chula Vista's proximity to the border and strong investor presence creates natural demand for alternative income documentation. Retirees, entrepreneurs, and foreign nationals all need ways to qualify without traditional paystubs.
Asset depletion works well here because many buyers have substantial savings but irregular income streams. These loans convert your liquid assets into qualifying income using a simple calculation lenders accept.
Asset Depletion Loans in Chula Vista
Lenders divide your total liquid assets by 360 months (30 years) to calculate monthly qualifying income. A borrower with $1M in stocks gets $2,778/month in income for approval purposes, regardless of actual employment.
You typically need $500K minimum in verifiable assets and 620+ credit. Eligible assets include stocks, bonds, retirement accounts, and savings—but not real estate equity or business assets.
Local decision guide
Use this guide to connect asset depletion loans eligibility, lender expectations, and local market factors before comparing payment options in Chula Vista.
Chula Vista's proximity to the border and strong investor presence creates natural demand for alternative income documentation. Retirees, entrepreneurs, and foreign nationals all need ways to qualify without traditional paystubs.
Asset depletion works well here because many buyers have substantial savings but irregular income streams. These loans convert your liquid assets into qualifying income using a simple calculation lenders accept.
Lenders divide your total liquid assets by 360 months (30 years) to calculate monthly qualifying income. A borrower with $1M in stocks gets $2,778/month in income for approval purposes, regardless of actual employment.
We work with about 15 lenders offering asset depletion programs, each with different asset minimums and calculation methods. Some use 84-month depletion instead of 360, which dramatically increases your qualifying income.
Rate spreads between lenders can hit 75 basis points on identical borrower profiles. The lender shopping process matters more on asset depletion than conventional loans because underwriting standards vary widely.
Asset depletion works best when you have triple the purchase price in liquid assets. Borrowers closer to minimum thresholds often hit debt-to-income limits because the calculation creates modest monthly income.
Many Chula Vista buyers use this for second homes near the border or investment properties they plan to manage personally. The loan doesn't care about rental income or employment—just verifiable asset balances.
Bank statement loans require 12-24 months of deposits and work better for business owners with income flow. Asset depletion needs no income documentation whatsoever—just brokerage statements.
Foreign national loans layer international documentation requirements on top. Asset depletion sidesteps that entirely if you already have US-based accounts, making it cleaner for visa holders with American investments.
San Diego County appraisals typically take 2-3 weeks in Chula Vista, slightly longer than coastal areas. Plan your rate lock accordingly since asset depletion loans don't qualify for agency streamline extensions.
Eastlake and Otay Ranch properties appraise cleanly with strong comps. Older central Chula Vista neighborhoods sometimes need multiple appraisal reviews, which can delay closing on non-QM loans without extension options.
Yes, but lenders only count 70% of IRA or 401k balances to account for early withdrawal penalties. Stocks and bonds in taxable accounts get 100% credit toward your asset calculation.
Expect 1.5-2.5% above conventional rates depending on loan-to-value and credit profile. Lower LTV and higher credit scores get closer to the 1.5% range.
Most lenders require two years of returns to verify you're not hiding employment income. They're checking for consistency, not calculating income from them.
Yes, lenders will layer W-2 income, Social Security, or pensions on top of asset depletion income. This often gets you over debt-to-income hurdles.
We're typically 25-30 days from application to closing. Appraisal timing drives the schedule more than underwriting since asset verification is straightforward.