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San Luis Obispo draws retirees, executives with stock packages, and entrepreneurs who hold wealth in portfolios rather than W-2s. Asset depletion loans let you qualify using liquid accounts—brokerage, IRAs, savings—instead of employment income.
This program divides your assets by 360 months to create qualifying income. A borrower with $1.8 million liquid can show $5,000 monthly income without touching a paycheck. Lenders expanding crypto acceptance means digital asset holders now have more options as of February 2026.
Most lenders require 620-680 credit and 20-30% down for asset depletion. They'll want 12-24 months of reserves after closing. Only liquid assets count—you can't use real estate equity or business valuations.
Acceptable assets include checking, savings, money market, brokerage accounts, IRAs, 401(k)s, and now verified crypto holdings through select lenders. The asset total gets divided by 360 to determine monthly income. That number must cover your proposed mortgage payment plus debts.
We access 30+ non-QM lenders offering asset depletion, each with different asset type requirements and calculation methods. Some lenders count 100% of liquid assets, others discount retirement accounts by 30-40% for early withdrawal penalties.
Portfolio lenders typically offer better terms for larger asset bases. If you hold $3 million liquid, you'll see more competitive pricing than someone at $800K. Rate differences between lenders can span 1.5 points on identical borrower profiles.
Most borrowers overpay because they take the first asset depletion quote they get. We've placed deals where shopping across our lender network saved $180K over the loan term. The worst outcome is using a retail bank that forces you into their single proprietary program.
Timing matters with volatile portfolios. If your brokerage account drops 15% before closing, you might lose qualification. We lock asset valuations at application with lenders who allow 90-day seasoning. That protects you from market swings during underwriting.
Bank statement loans work better if you run business income through accounts but lack liquid assets. DSCR loans fit investment property buyers who want rental income to carry the payment. Asset depletion suits retirees and executives sitting on portfolios.
Foreign national loans require similar down payments but allow offshore assets. If your wealth sits in international accounts, that program makes more sense. Asset depletion requires U.S.-based, verifiable liquid holdings.
San Luis Obispo's proximity to retirement destinations like Pismo Beach and Morro Bay creates strong asset depletion demand. Many buyers downsize from Bay Area homes with $2-4 million equity, then invest proceeds and qualify through depletion.
Cal Poly presence means some faculty and visiting professors use asset depletion when sabbaticals interrupt W-2 income. Downtown condos and homes near Terrace Hill attract this borrower type. Properties under $1.5 million move fastest with asset-based qualification.
Most lenders want $500K liquid minimum. That creates $1,388 monthly income when divided by 360. Your actual need depends on purchase price and existing debts.
Yes, but lenders typically discount retirement accounts by 30% for early withdrawal penalties. A $1M 401(k) might count as $700K for qualification purposes.
No. Lenders verify assets exist, not that you sell them. You only liquidate what's needed for down payment and closing costs if those aren't already in checking.
Expect 1.5-3% higher than conventional rates as of February 2026. Strong credit and larger down payments land at the lower end of that range. Rates vary by borrower profile and market conditions.
Select lenders accept verified crypto holdings through specialized platforms. Requirements include third-party verification and may involve discounts similar to retirement accounts. Not all non-QM lenders offer this yet.
Asset Depletion Loans in San Luis Obispo