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Asset Depletion Loans in Dorris
Dorris attracts retirees and rural property investors who don't fit conventional income boxes. Asset depletion loans work perfectly when your bank balance tells a better story than your W-2.
In Siskiyou County's small-town market, these loans help buyers with strong savings purchase primary homes or vacation properties. No employment letter needed—just proof you've got the assets to support monthly payments.
You need liquid assets—typically stocks, bonds, savings, or retirement accounts—worth enough to cover 36 to 60 months of mortgage payments. Lenders calculate a hypothetical income by dividing your total assets by the loan term.
Credit requirements sit around 680 minimum, with 20-30% down payment standard. Your asset portfolio must remain accessible, though you don't actually liquidate anything at closing.
Asset depletion loans come exclusively from non-QM lenders, not your neighborhood bank. We work with specialized lenders who understand this niche—rates run 1-2% higher than conventional but far below hard money.
Most lenders count 70% of liquid assets toward qualification. Retirement accounts qualify but may have adjustment factors based on withdrawal penalties and age.
Dorris buyers using asset depletion usually fall into two camps: early retirees with big investment accounts and property investors cycling capital between deals. Both have money but no traditional income trail.
The math matters here. If you're buying a $350,000 home with $300,000 down, you need less asset depth than someone putting 20% down. Lower loan amounts relative to asset base get better pricing and easier approval.
Bank statement loans need 12-24 months of deposits showing business income. Asset depletion skips that entirely—your brokerage statement does the talking. If you've got assets but irregular deposits, this beats bank statement programs.
DSCR loans work for pure investment properties where rental income covers the note. Asset depletion handles any property type, including primary residences where rental income doesn't exist.
Dorris sits near the Oregon border with limited property inventory. Asset depletion loans give buyers speed—no waiting for tax returns or employment letters when a listing hits the market.
Rural Siskiyou County properties sometimes need well and septic inspections that delay closings. Having your financing pre-approved through asset verification keeps you ready when the right property appears.
Depends on loan amount, but expect to show liquid assets covering 36-60 months of payments. A $200,000 loan might require $400,000+ in verified assets.
No. Lenders verify you own the assets but don't require liquidation. Your portfolio stays invested throughout the loan term.
Yes, most lenders accept retirement accounts. They may apply a discount factor based on early withdrawal penalties if you're under 59½.
With assets already documented, expect 21-30 days. No employment verification speeds things up compared to traditional loans.
Rates vary by borrower profile and market conditions, typically 1-2% higher than conventional. Stronger credit and bigger down payments get better pricing.
Mortgage financing for independent contractors and freelancers who earn 1099 income instead of traditional W-2 wages.
Non-QM loans that use 12 to 24 months of bank statements to verify income for self-employed borrowers.
Short-term financing that bridges the gap between buying a new property and selling an existing one.
Debt Service Coverage Ratio loans that qualify investors based on a rental property's income rather than personal income.
Mortgage programs designed for non-US citizens and non-permanent residents who want to purchase property in the United States.
Asset-based short-term loans primarily used by real estate investors for property acquisition and renovation projects.
Mortgages that allow borrowers to pay only the interest for an initial period, resulting in lower monthly payments upfront.
Financing solutions tailored for real estate investors purchasing rental properties, fix-and-flip projects, or investment portfolios.
Home loans for borrowers who have an Individual Taxpayer Identification Number instead of a Social Security number.
Adjustable rate mortgages held in a lender's portfolio rather than sold on the secondary market, offering more flexible terms.
Non-QM mortgages that use a CPA-prepared profit and loss statement to verify income for self-employed borrowers.
Home loans with interest rates that adjust periodically based on market conditions after an initial fixed-rate period.
Specialized mortgage programs designed to support homeownership in underserved communities with flexible qualification criteria.
Mortgages that meet the guidelines and loan limits set by Fannie Mae and Freddie Mac for secondary market purchase.
Financing for building a new home or making major renovations, typically converting to a permanent mortgage upon completion.
Traditional mortgage financing not backed by a government agency, offering flexible terms and competitive rates for qualified borrowers.
Innovative loan products that leverage projected home equity growth to provide favorable financing terms.
Government-insured mortgages from the Federal Housing Administration with low down payments and flexible credit requirements.
A revolving line of credit secured by your home equity that allows you to borrow funds as needed during a draw period.
A fixed-rate second mortgage that provides a lump sum of cash by borrowing against the equity built in your home.
Mortgages that exceed the conforming loan limits set by the FHFA, designed for financing high-value luxury properties.
Loans for homeowners aged 62 and older that convert home equity into cash without requiring monthly mortgage payments.
Government-backed zero down payment mortgages for eligible rural and suburban homebuyers who meet income limits.
Government-guaranteed mortgages for eligible veterans, active-duty service members, and surviving spouses with zero down payment.