Question 1

What assets count for qualification in Lompoc?

Accepted Answer

Savings, brokerage accounts, and IRAs typically count. Retirement accounts may be discounted. Real estate equity and business assets usually do not count.

Question 2

How does the income calculation work?

Accepted Answer

Lenders divide eligible assets by a set term — often 360 months. That result becomes your monthly qualifying income for underwriting.

Question 3

Do I need a job to get this loan?

Accepted Answer

No. That's the point. You qualify on assets alone. Lenders still review your credit and financial profile carefully.

Question 4

Are rates higher on asset depletion loans?

Accepted Answer

Yes, typically higher than conventional rates. Rates vary by borrower profile and market conditions. Non-QM loans carry more lender risk.

Question 5

How much do I need in assets to qualify?

Accepted Answer

Enough to cover the loan amount after the depletion calculation, plus reserves post-closing. Your broker can run the numbers before you apply.

Question 6

Can retiring Vandenberg military buyers use this loan?

Accepted Answer

Yes — if VA eligibility isn't preferred or the property doesn't qualify, asset depletion can be a strong alternative for asset-rich retirees.

Asset Depletion Loans in Lompoc, CA