Question 1

What assets qualify for asset depletion loans?

Accepted Answer

Checking, savings, money market, and brokerage accounts typically qualify. Retirement accounts often count at 60-70% of their balance.

Question 2

Do I need any income at all to qualify?

Accepted Answer

No traditional income is required. Lenders derive a qualifying income figure from your liquid asset total.

Question 3

How much do I need to put down in Arroyo Grande?

Accepted Answer

Most asset depletion lenders require 20-30% down. Non-QM products carry higher down payment thresholds than conventional loans.

Question 4

How long does asset depletion approval take?

Accepted Answer

Expect 2-4 weeks. Non-QM underwriting is manual and takes longer than automated conventional approvals.

Question 5

Can I use gifted funds as qualifying assets?

Accepted Answer

Most lenders do not allow gifted funds for asset depletion qualification. The assets must be yours and seasoned in your accounts.

Question 6

Are asset depletion rates higher than conventional?

Accepted Answer

Yes. Non-QM loans carry a rate premium over conventional. Rates vary by borrower profile and market conditions.

Asset Depletion Loans in Arroyo Grande, CA