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Asset Depletion Loans in Fort Jones
Fort Jones sits in rural Siskiyou County where traditional lenders often struggle with non-W-2 borrowers. Asset depletion loans let you qualify using retirement accounts, investment portfolios, or cash reserves instead of paystubs.
This makes sense for retirees relocating to Fort Jones or self-employed borrowers who've accumulated wealth outside traditional employment. The program treats your assets as a reliable income stream over the loan term.
You'll need substantial liquid assets—typically $500,000+ in verifiable accounts. Lenders divide your total assets by 360 months (a 30-year term) to calculate qualifying income.
A borrower with $1.2 million in assets shows $3,333 monthly income under this calculation. Credit scores usually need to hit 680 minimum, with 20-30% down payment expected for purchase transactions.
Asset depletion sits firmly in non-QM territory, meaning community banks and local credit unions won't touch it. You need wholesale lenders who specialize in alternative documentation programs.
We access about 30-40 lenders within our 200+ network who actively price asset depletion deals. Rates typically run 1-2% above conventional mortgages. Terms vary significantly between lenders on which assets count and how they're valued.
Asset depletion works best when you have zero income documentation or your tax returns show losses despite wealth accumulation. We see this with retired farmers, business owners who've sold companies, and trust beneficiaries.
The biggest mistake is counting illiquid assets or retirement accounts with early withdrawal penalties. Only post-tax accessible funds count at full value. IRAs and 401(k)s get discounted 30-40% depending on your age and account type.
Bank statement loans require 12-24 months of statements and work better if you have business cash flow. Asset depletion ignores income entirely—you just need the asset pile.
DSCR loans make sense for investment properties based on rental income. For Fort Jones primary residences or second homes, asset depletion beats DSCR when you lack rental history or traditional employment.
Fort Jones properties rarely exceed conforming loan limits, so you avoid jumbo territory complications. Most asset depletion lenders approve loans up to $3-4 million, well above local property values.
Rural appraisals can take 2-3 weeks in Siskiyou County due to appraiser availability. Lenders sometimes struggle with comparable sales data in small markets, which can extend underwriting timelines 5-10 days beyond metro areas.
Checking, savings, stocks, bonds, and mutual funds count at 100%. Retirement accounts get discounted 30-40% based on age and account type.
Yes, though most lenders prefer DSCR loans for rentals. Asset depletion works when the property lacks rental history or you want simpler documentation.
You'll provide 2 months of account statements for every asset claimed. Lenders verify balances and ownership through direct statements, not just screenshots.
Rates typically run 1-2% above conventional mortgages. Your credit score, down payment, and total asset level affect exact pricing.
Yes, expect 20-30% down minimum. Some lenders allow 15% down with higher rates or additional asset reserves.
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.