Question 1

What assets qualify for asset depletion in Santa Maria?

Accepted Answer

Checking, savings, brokerage, and money market accounts typically qualify. Retirement accounts often count at a reduced percentage — lender guidelines vary.

Question 2

How is my qualifying income calculated?

Accepted Answer

Lenders divide total eligible assets by the loan term in months. A $1.8M portfolio divided by 360 months equals $5,000 in monthly income.

Question 3

Can I use asset depletion for a Santa Maria investment property?

Accepted Answer

Yes. Most non-QM lenders allow it on investment properties. Expect a larger down payment and a higher rate than a primary home purchase.

Question 4

Do I need a job to get an asset depletion loan?

Accepted Answer

No. That's the point of this program. Assets replace income for qualification — no employment verification required.

Question 5

What credit score do I need?

Accepted Answer

Most lenders start at 660. Better scores get better pricing. Some lenders will go lower with a larger down payment.

Question 6

Are asset depletion rates higher than conventional rates?

Accepted Answer

Yes, typically. Non-QM programs carry a rate premium. Rates vary by borrower profile and market conditions.

Asset Depletion Loans in Santa Maria, CA