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Asset Depletion Loans in Imperial Beach
Imperial Beach draws retirees and investors with substantial savings but no W-2 income. Traditional lenders reject qualified borrowers who hold six-figure portfolios.
Asset depletion loans treat liquid assets as income for qualification. A $500K portfolio becomes roughly $2,000 monthly income over a 30-year amortization.
This program works well for coastal buyers who sold businesses or accumulated wealth through investments. Your bank balance matters more than your employment letter.
You need $100K minimum in liquid assets after down payment and reserves. Lenders divide your total portfolio by the loan term to calculate monthly qualifying income.
Credit scores start at 620, though most approvals happen above 680. You'll put down 20-30% depending on property type and overall profile.
Acceptable assets include savings accounts, stocks, bonds, mutual funds, and IRAs. Real estate equity and retirement accounts with penalties don't qualify.
Five to seven non-QM lenders in our network handle asset depletion. Each uses different calculation methods and asset types.
Some lenders divide assets by 60 months instead of 360, creating higher qualifying income. Others allow 401(k) withdrawals without penalty documentation.
Pricing varies significantly based on how aggressively lenders underwrite assets. Shopping multiple quotes often saves 0.50% in rate.
Retirees often qualify easier with asset depletion than bank statements. No need to establish two-year income history or explain deposits.
I've closed deals where borrowers held $800K liquid but zero monthly income. Traditional lenders turned them away despite obvious ability to pay.
Combine multiple account types to maximize qualifying income. One client added a brokerage account to their savings and jumped two purchase price tiers.
Bank statement loans require 12-24 months of deposits and business documentation. Asset depletion needs only current account statements.
DSCR loans work for investment properties using rental income. Asset depletion covers primary residences when you have wealth but no job.
Foreign national loans demand 30-40% down with higher rates. Asset depletion offers better pricing if you have U.S. credit and liquid assets.
Imperial Beach attracts buyers downsizing from expensive San Diego neighborhoods. They often have substantial equity but retire before buying.
Beachfront condos and single-family homes near the pier work well for this program. Lenders approve warrantable condos without additional scrutiny.
Proximity to the border doesn't affect asset depletion approval. Lenders focus on your portfolio value and U.S. credit history.
They divide your total liquid assets by the loan term in months. A $600K portfolio divided by 360 months equals $1,667 monthly qualifying income.
Some lenders allow it, others don't due to early withdrawal penalties. We shop lenders who count retirement accounts without penalty documentation.
Most lenders require $100K in liquid assets remaining after your down payment and six months reserves. Higher balances unlock better rates.
No employment or income documentation required. Lenders verify assets through current bank and brokerage statements only.
Typically 15-20 days once we receive asset statements. Faster than income-based loans since there's no employment verification.
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.