Question 1

What assets qualify for an asset depletion loan?

Accepted Answer

Checking, savings, money market, and investment accounts typically qualify. Retirement accounts usually count at 70% of their value.

Question 2

Do I need any income at all to qualify?

Accepted Answer

No employment income is required. Your asset total is divided over a set period to create a calculated monthly income figure.

Question 3

What credit score do I need in Poway?

Accepted Answer

Most non-QM lenders require 680 or higher. A stronger score improves your rate. Rates vary by borrower profile and market conditions.

Question 4

How much can I borrow with an asset depletion loan?

Accepted Answer

Loan limits depend on your asset total and lender guidelines. Jumbo amounts are available through non-QM wholesale lenders.

Question 5

How is my qualifying income calculated?

Accepted Answer

Lenders divide eligible assets by 60 to 84 months. That monthly figure is used as your income on the loan application.

Question 6

Can I use an asset depletion loan to buy in Poway specifically?

Accepted Answer

Yes. San Diego County properties are eligible. Poway's price range often aligns well with asset depletion loan structures.

Asset Depletion Loans in Poway, CA