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Yreka sits at the northern edge of California, close to the Oregon border. Siskiyou County draws retirees, rural landowners, and cash-rich buyers who don't fit standard income molds.
Asset depletion loans convert your liquid assets into qualifying income. No W-2s, no pay stubs — just documented savings, investments, or retirement accounts.
680+
Min Credit Score
20–30%
Down Payment
60–84 months
Asset Depletion Term
Assets only
Income Verification
Asset Depletion Loans in Yreka
Lenders divide your eligible assets by a set number of months — often 60 to 84 — to calculate monthly income. That number has to support the mortgage payment.
Most lenders want a 680+ credit score and 20–30% down for asset depletion. Retirement accounts may be discounted by 30% before the calculation runs.
Local decision guide
Use this guide to connect asset depletion loans eligibility, lender expectations, and local market factors before comparing payment options in Yreka.
Yreka sits at the northern edge of California, close to the Oregon border. Siskiyou County draws retirees, rural landowners, and cash-rich buyers who don't fit standard income molds.
Asset depletion loans convert your liquid assets into qualifying income. No W-2s, no pay stubs — just documented savings, investments, or retirement accounts.
Lenders divide your eligible assets by a set number of months — often 60 to 84 — to calculate monthly income. That number has to support the mortgage payment.
Asset depletion is a non-QM product. That means banks won't touch it — you need wholesale lenders who specialize in alternative income programs.
We work with 200+ wholesale lenders at SRK CAPITAL. Several have strong non-QM shelves built for exactly this borrower type. Rates vary by borrower profile and market conditions.
The biggest mistake I see: borrowers count assets that aren't liquid. A vacation cabin in Siskiyou County is not a qualifying asset. Cash, stocks, and vested retirement funds are.
Down payment funds usually can't double as qualifying assets. Lenders check the balance after your down payment clears. Structure this before you apply.
Bank statement loans work better if you're still running a business with regular deposits. Asset depletion works better when income has stopped or slowed significantly.
DSCR loans fit rental investors. Asset depletion fits buyers using personal wealth. They're different tools for different financial pictures.
Yreka properties can include acreage, rural land, and manufactured homes. Not all lenders will approve non-QM loans on non-standard property types — confirm eligibility early.
Siskiyou County has a significant retiree population. Asset depletion was designed for this borrower profile. If your income is fixed or minimal but your savings are solid, this program fits.
Cash, checking, savings, stocks, bonds, and vested retirement accounts typically qualify. Real estate equity and illiquid assets do not count.
Some lenders restrict non-QM loans on rural or acreage properties. We verify lender guidelines on your specific property before you apply.
Lenders divide eligible assets by a loan term — often 60 to 84 months. The result is your monthly qualifying income.
No. Any borrower with substantial liquid assets and limited income history can qualify. Retirees are common applicants, but not the only ones.
Non-QM rates run higher than conventional. Your rate depends on credit score, down payment, and asset profile. Rates vary by borrower profile and market conditions.