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Goleta sits next to Santa Barbara and draws a similar buyer profile — retirees, tech founders, and investors with serious assets but no W-2.
Asset depletion loans let those borrowers qualify using liquid assets instead of employment income. No job required. No pay stubs needed.
680+
Min Credit Score
20–30%
Down Payment
60–360 months
Depletion Period
None
Income Docs Required
Non-QM
Loan Type
Asset Depletion Loans in Goleta
Lenders divide your eligible assets by a set number of months — usually 60 to 360 — to calculate a monthly income figure.
That calculated income replaces traditional income on your application. Credit score and asset documentation still matter significantly.
Local decision guide
Use this guide to connect asset depletion loans eligibility, lender expectations, and local market factors before comparing payment options in Goleta.
Goleta sits next to Santa Barbara and draws a similar buyer profile — retirees, tech founders, and investors with serious assets but no W-2.
Asset depletion loans let those borrowers qualify using liquid assets instead of employment income. No job required. No pay stubs needed.
Lenders divide your eligible assets by a set number of months — usually 60 to 360 — to calculate a monthly income figure.
Most banks won't touch asset depletion loans. This is a non-QM product, and retail lenders rarely offer it.
Wholesale lenders are where these programs live. That's exactly why working with a broker who accesses 200+ wholesale lenders matters here.
Asset type matters more than total balance. Most lenders haircut retirement accounts by 30–40% before counting them.
Brokerage accounts and savings count at full value. Structure your asset documentation before applying — it changes your qualifying number.
Bank statement loans work better if you have business revenue coming in each month. Asset depletion fits borrowers who've already stopped drawing income.
DSCR loans are for rental properties. Asset depletion is for primary homes, second homes, and investment properties without rental income to show.
Goleta's proximity to UCSB and the tech corridor means buyers often include early retirees and equity-rich founders who cashed out.
Property values in Santa Barbara County run high. Asset depletion borrowers here often need to show substantial liquid assets to hit the qualifying thresholds.
Savings and brokerage accounts count at full value. Retirement accounts are typically discounted 30–40% depending on the lender.
Yes. Asset depletion programs work on primary residences, second homes, and investment properties. Terms vary by property type.
Most lenders want 680 or higher for asset depletion. Stronger credit gets better rates. Rates vary by borrower profile and market conditions.
It depends on the loan amount and the depletion period your lender uses. Given Goleta prices, expect to document significant liquid assets.
It's non-QM, meaning it falls outside standard agency guidelines. That's not the same as risky — it's just a different qualification method.
Typically 30–45 days. Documentation review takes longer than a standard loan. Have your asset statements ready before you apply.