Question 1

What assets qualify for asset depletion loans?

Accepted Answer

Checking, savings, brokerage, and retirement accounts usually qualify. Retirement accounts are often discounted before the income calculation.

Question 2

Can I use this loan to buy farmland in Tulelake?

Accepted Answer

It depends on the lender. Many non-QM lenders restrict agricultural or mixed-use parcels. We shop lenders who work in rural Siskiyou County.

Question 3

What credit score do I need?

Accepted Answer

Most lenders require at least 620. Higher scores get better pricing on non-QM products like asset depletion.

Question 4

How is my monthly income calculated?

Accepted Answer

Lenders divide eligible assets by a set number of months — typically 60 to 84. That result is your qualifying monthly income.

Question 5

Are asset depletion loans more expensive than conventional?

Accepted Answer

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

Question 6

Do I need to be retired to use this program?

Accepted Answer

No. Any borrower with significant liquid assets and limited documentable income may qualify. Retirees are common but not the only fit.

Asset Depletion Loans in Tulelake, CA