Question 1

What assets qualify for this loan in Loyalton?

Accepted Answer

Cash, brokerage accounts, and vested retirement funds typically qualify. Real estate equity and illiquid assets do not count.

Question 2

Can I use an IRA or 401k to qualify?

Accepted Answer

Yes, but most lenders discount retirement accounts to 70% of their value. You must also be of withdrawal age or document penalty-free access.

Question 3

How is my income calculated from assets?

Accepted Answer

Lenders divide your total eligible assets by a set term — often 60 to 84 months. That number becomes your monthly qualifying income.

Question 4

Are asset depletion loans harder to get in rural areas?

Accepted Answer

The income side is the same anywhere. The challenge is appraisal — Sierra County has limited comps, so lender selection matters.

Question 5

How do rates compare to a conventional loan?

Accepted Answer

Rates run higher than conventional loans — this is a non-QM product. Rates vary by borrower profile and market conditions.

Question 6

How long does the process take?

Accepted Answer

Non-QM loans typically close in 21 to 35 days. Complete asset documentation upfront keeps things moving without delays.

Asset Depletion Loans in Loyalton, CA