Question 1

What assets qualify for asset depletion in Dorris?

Accepted Answer

Checking, savings, money market, and brokerage accounts typically qualify at full value. Retirement accounts are usually discounted 30-40%.

Question 2

Do I need any income at all to qualify?

Accepted Answer

No employment income is required. Your asset balance alone can serve as the qualifying income source.

Question 3

Can I use this loan on a rural property with acreage?

Accepted Answer

Some wholesale lenders accept rural parcels. Not all do — lender selection matters more in Siskiyou County than in urban markets.

Question 4

How much do I need in assets to qualify?

Accepted Answer

It depends on the loan amount and the lender's depletion formula. Higher loan amounts require larger asset reserves.

Question 5

Is asset depletion more expensive than a conventional loan?

Accepted Answer

Yes. Non-QM programs carry higher rates than conventional loans. Rates vary by borrower profile and market conditions.

Question 6

How long does it take to close an asset depletion loan?

Accepted Answer

Non-QM loans typically close in 21-35 days. Having organized, seasoned asset statements speeds the process significantly.

Asset Depletion Loans in Dorris, CA