Question 1

What assets qualify for asset depletion in Buellton?

Accepted Answer

Checking, savings, brokerage, and retirement accounts generally qualify. Real estate equity and business assets typically don't count.

Question 2

Can I use an asset depletion loan on a second home?

Accepted Answer

Yes. Asset depletion works on primary residences, second homes, and investment properties. Terms vary by lender.

Question 3

How does a lender calculate my income from assets?

Accepted Answer

Most divide total eligible assets by 360 months. That monthly figure is your qualifying income. Rates vary by borrower profile and market conditions.

Question 4

Is a down payment required on asset depletion loans?

Accepted Answer

Yes. Most lenders require at least 20% down on non-QM products like this. Some require more depending on loan size.

Question 5

Do I need to be retired to use an asset depletion loan?

Accepted Answer

No. Any borrower with substantial liquid assets and minimal documented income can apply. Age is not a qualifying factor.

Question 6

How is asset depletion different from a bank statement loan?

Accepted Answer

Bank statement loans use your cash flow as income. Asset depletion uses your saved balance. No revenue needed at all.

Asset Depletion Loans in Buellton, CA