Question 1

What assets qualify for income calculation?

Accepted Answer

Checking, savings, brokerage, and retirement accounts typically qualify. Illiquid assets like real estate equity usually don't count.

Question 2

Can I use this for a vacation home in Solvang?

Accepted Answer

Yes. Asset depletion works for second homes and vacation properties. Expect slightly stricter terms than a primary residence purchase.

Question 3

What credit score do I need?

Accepted Answer

Most non-QM lenders start at 680 for asset depletion loans. Higher scores get better rates. Rates vary by borrower profile and market conditions.

Question 4

How do lenders calculate my income from assets?

Accepted Answer

They divide your total eligible assets by a set number of months. That monthly figure is treated as your qualifying income.

Question 5

Is asset depletion available at local banks in Solvang?

Accepted Answer

Unlikely. This is a non-QM product. You need a broker with wholesale lender access to find it at competitive rates.

Question 6

How long does the asset depletion loan process take?

Accepted Answer

Expect 21-35 days with complete documentation. Delays usually come from incomplete asset statements or lender-specific overlays.

Asset Depletion Loans in Solvang, CA