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Asset Depletion Loans in Montague
Montague draws retirees and entrepreneurs who don't fit traditional income boxes. Asset depletion loans let you qualify using retirement accounts and liquid assets instead of W-2s.
This program works well in rural Siskiyou County where high-net-worth buyers want second properties or retirement homes. Your savings become your income proof.
Lenders divide your liquid assets by 360 months to create a monthly income number. $500,000 in accounts equals roughly $1,389 monthly qualifying income.
You typically need 20-30% down and 680+ credit. IRAs, 401(k)s, stocks, and taxable accounts all count toward your asset total.
Asset depletion sits in the Non-QM space, so you won't find it at Chase or Wells Fargo. We work with 20+ specialized lenders who understand this niche.
Each lender calculates asset depletion differently. Some use 84-month depletion periods instead of 360 months, which gives you higher qualifying income on the same assets.
Most Montague buyers using asset depletion are selling urban California homes and downsizing. They have equity but minimal reportable income post-retirement.
The gotcha: lenders exclude 30% of retirement account balances to account for future taxes. A $600,000 IRA only counts as $420,000 for qualification math.
Bank statement loans suit business owners with operating accounts. Asset depletion fits retirees or investors sitting on IRAs and brokerage accounts.
Foreign national loans require larger down payments but skip U.S. credit entirely. Asset depletion still checks your FICO and wants domestic banking history.
Siskiyou County appraisals can drag on rural properties. Lenders want clear comps, and Montague's small market sometimes requires appraisers from Redding or Medford.
Well and septic inspections matter more here than metro areas. Budget extra time for FHA-style well tests even though this isn't an FHA loan.
Yes, but lenders discount the balance by 30% to account for future taxes. A $600,000 401(k) counts as $420,000 in qualifying assets.
Rates typically run 1-2% above conventional conforming loans. Exact pricing depends on credit score, down payment, and total asset size.
No. Lenders verify account balances but don't require you to sell investments. Assets remain yours throughout the loan term.
Most programs require $500,000 minimum in qualifying accounts. Higher balances improve your monthly income calculation and loan amount capacity.
Yes. Lenders combine documented retirement income with your asset depletion calculation. This combo often strengthens your application significantly.
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.