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Asset Depletion Loans in Lathrop
Lathrop attracts retirees and high-net-worth buyers who don't fit traditional income boxes. Asset depletion loans let you qualify using investment accounts instead of W-2s.
This program works for buyers with significant liquid assets but irregular income. San Joaquin County's affordable market makes it accessible for asset-rich borrowers trading up or relocating.
Lenders divide your liquid assets by 360 months to calculate qualifying income. A $1 million portfolio creates roughly $2,778 monthly income for qualification purposes.
Most programs require $500K minimum in verifiable liquid assets. Credit scores typically need to hit 680 or higher, with 20-30% down depending on the lender.
Asset depletion sits in the non-QM space with specialized wholesale lenders. Not every bank offers this program, which is why broker access to multiple lenders matters.
Rate spreads vary widely between lenders on these loans. One might price 150 basis points higher than conventional while another hits 250. Shopping makes a real difference.
Most Lathrop asset depletion deals involve buyers downsizing from Bay Area or upgrading retirement plans. They have seven-figure portfolios but zero documented income.
Common mistake: pulling assets from accounts to boost down payment. Leave them invested. Lenders need those balances verified for 60 days to calculate qualifying income.
Bank statement loans need 12-24 months of business deposits. Asset depletion just needs account balances. If you're retired or living off investments, this beats bank statements.
DSCR loans work for investment properties. Asset depletion handles primary residences. Foreign national loans require different documentation. Each fits specific situations.
Lathrop's housing stock includes newer developments attractive to downsizers. Asset depletion loans fit buyers leaving expensive metros for San Joaquin County affordability.
Property types matter. Lenders approve single-family homes easily. Condos require warrantable status. Rural properties outside city limits may hit loan limits or additional restrictions.
Stocks, bonds, mutual funds, and verified retirement accounts count. Most lenders require liquid assets you can document with 60-day statements.
Yes, 401(k)s and IRAs typically qualify. Lenders usually apply a 70% discount factor to retirement accounts versus taxable investment accounts.
Expect rates 1.5-2.5% above conventional loans. Rates vary by borrower profile and market conditions across different lenders.
No, assets stay invested. Lenders verify balances to calculate income but don't require you to sell anything.
Most lenders require 20-30% down. Borrowers with larger asset portfolios sometimes qualify at 20%, while thinner files need 30%.
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.