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Lompoc sits in Santa Barbara County — wine country, aerospace, and a lot of retirees with serious assets but no W-2.
Asset depletion loans turn your savings, investments, or retirement accounts into qualifying income. No job required.
620+
Min Credit Score
Up to 360 months
Asset Calc Period
None
Income Required
Non-QM
Loan Type
Typically higher
Rate vs Conventional
Asset Depletion Loans in Lompoc
Lenders divide your eligible assets by a set number of months — often 360 — to calculate your monthly income.
Most lenders want 620+ credit and enough assets to cover the loan plus reserves. The math has to work after closing.
Local decision guide
Use this guide to connect asset depletion loans eligibility, lender expectations, and local market factors before comparing payment options in Lompoc.
Lompoc sits in Santa Barbara County — wine country, aerospace, and a lot of retirees with serious assets but no W-2.
Asset depletion loans turn your savings, investments, or retirement accounts into qualifying income. No job required.
Lenders divide your eligible assets by a set number of months — often 360 — to calculate your monthly income.
Big retail banks rarely offer asset depletion programs. This is non-QM territory — specialty lenders only.
We shop this across 200+ wholesale lenders. Rates and asset calculation methods vary widely by lender.
The biggest mistake I see: buyers assume all assets count equally. Retirement accounts often get discounted 30-40% by lenders.
Structure matters here. Which accounts you draw from — and how you document them — can change your qualifying income significantly.
Bank statement loans work better if you're still running a business with income flowing through accounts.
Asset depletion is cleaner for fully retired buyers — no business docs, just account statements showing your holdings.
Santa Barbara County attracts buyers with significant wealth and minimal earned income. Asset depletion fits that profile well.
Lompoc's proximity to Vandenberg Space Force Base also brings retiring military buyers — often asset-rich after long careers.
Savings, brokerage accounts, and IRAs typically count. Retirement accounts may be discounted. Real estate equity and business assets usually do not count.
Lenders divide eligible assets by a set term — often 360 months. That result becomes your monthly qualifying income for underwriting.
No. That's the point. You qualify on assets alone. Lenders still review your credit and financial profile carefully.
Yes, typically higher than conventional rates. Rates vary by borrower profile and market conditions. Non-QM loans carry more lender risk.
Enough to cover the loan amount after the depletion calculation, plus reserves post-closing. Your broker can run the numbers before you apply.
Yes — if VA eligibility isn't preferred or the property doesn't qualify, asset depletion can be a strong alternative for asset-rich retirees.