Question 1

What assets count toward qualification in El Cajon?

Accepted Answer

Checking, savings, stocks, bonds, and retirement accounts typically qualify. Retirement assets are usually discounted before counting.

Question 2

Can I use this loan to buy a primary home?

Accepted Answer

Yes. Asset depletion works for primary residences, second homes, and investment properties. Lender guidelines vary by property type.

Question 3

What credit score do I need?

Accepted Answer

Most non-QM lenders want 680 or higher for asset depletion. Some go lower with a larger down payment.

Question 4

Is this a good fit for retirees in El Cajon?

Accepted Answer

It's one of the strongest fits available. Retirees with solid portfolios but limited income are the core borrower for this product.

Question 5

How does the income calculation actually work?

Accepted Answer

Lenders take your eligible assets and divide by the loan term in months. That number becomes your monthly qualifying income.

Question 6

Are rates higher than a conventional loan?

Accepted Answer

Yes, non-QM rates run higher than conventional. Rates vary by borrower profile and market conditions.

Asset Depletion Loans in El Cajon, CA