Question 1

What assets count for asset depletion in Goleta?

Accepted Answer

Savings and brokerage accounts count at full value. Retirement accounts are typically discounted 30–40% depending on the lender.

Question 2

Can I use asset depletion on a second home in Goleta?

Accepted Answer

Yes. Asset depletion programs work on primary residences, second homes, and investment properties. Terms vary by property type.

Question 3

What credit score do I need for this loan?

Accepted Answer

Most lenders want 680 or higher for asset depletion. Stronger credit gets better rates. Rates vary by borrower profile and market conditions.

Question 4

How much do I need in assets to qualify?

Accepted Answer

It depends on the loan amount and the depletion period your lender uses. Given Goleta prices, expect to document significant liquid assets.

Question 5

Is asset depletion a risky loan program?

Accepted Answer

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.

Question 6

How long does an asset depletion loan take to close?

Accepted Answer

Typically 30–45 days. Documentation review takes longer than a standard loan. Have your asset statements ready before you apply.

Asset Depletion Loans in Goleta, CA