Question 1

What assets count toward qualification in Benicia?

Accepted Answer

Checking, savings, and taxable brokerage accounts typically qualify. Retirement accounts may count at a reduced percentage.

Question 2

Can I use asset depletion to buy a second home in Benicia?

Accepted Answer

Yes. Asset depletion works on primary residences, second homes, and investment properties. Guidelines vary by lender.

Question 3

Do I need any income at all to qualify?

Accepted Answer

No traditional income is required. Your documented liquid assets serve as the income source for qualification purposes.

Question 4

How much in assets do I need to qualify?

Accepted Answer

It depends on the loan amount and the lender's formula. More assets mean higher calculated income. Run the numbers before applying.

Question 5

How does asset depletion differ from a standard loan?

Accepted Answer

Standard loans use pay stubs or tax returns. Asset depletion divides your liquid assets over time to create a qualifying income figure.

Question 6

Are asset depletion rates higher than conventional rates?

Accepted Answer

Yes, typically. Non-QM programs carry a rate premium over conventional loans. Rates vary by borrower profile and market conditions.

Asset Depletion Loans in Benicia, CA