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Asset Depletion Loans in Ceres
Ceres has retirees and business owners with substantial savings but minimal W-2 income. Asset depletion loans let you qualify based on your investment accounts, not monthly paychecks.
These loans work well in Stanislaus County's affordable housing market. Your retirement portfolio or brokerage account becomes your income proof for underwriting approval.
Lenders divide your liquid assets by 360 months to calculate monthly income. A $720,000 portfolio equals $2,000 monthly qualifying income for debt-to-income ratios.
Most programs require 620+ credit and 20% down minimum. Eligible assets include checking, savings, stocks, bonds, mutual funds, and sometimes retirement accounts after age 59½.
Asset depletion is a non-QM product with limited lender availability. Not every wholesale lender on our platform offers this program, so broker access matters significantly.
Rates run 1-2% above conventional loans due to portfolio lending risk. Expect rate quotes between 7.5-9.5% depending on your credit, down payment, and asset profile.
Most Ceres borrowers I see for asset depletion are early retirees with solid portfolios but no pension income yet. They don't want to liquidate investments just to show traditional income.
The 360-month calculation hurts when you need a bigger loan. If you need $400,000 mortgage with 43% DTI, you'd need roughly $1.1 million in liquid assets to qualify.
Bank statement loans work better if you're self-employed with business revenue. Asset depletion fits retirees or trust fund borrowers with wealth but zero earned income.
DSCR loans make more sense for investment properties. Asset depletion works for primary residences when you can't document traditional income streams at all.
Ceres home prices stay reasonable compared to Bay Area markets. That affordability means your asset portfolio stretches further here than in coastal California cities.
Stanislaus County sees plenty of Bay Area retirees relocating for lower cost of living. Asset depletion loans help those buyers transition without establishing new local income sources first.
Checking, savings, stocks, bonds, mutual funds, and CDs always count. Retirement accounts like IRAs and 401(k)s usually qualify if you're 59½ or older without early withdrawal penalties.
Most lenders require 20% minimum, though some allow 15% down with higher rates. You won't find asset depletion programs with less than 15% down payment.
No, you only liquidate enough for your down payment and closing costs. Lenders verify assets remain in your accounts but don't require you to cash out portfolios.
You'll provide 2-3 months of account statements for every asset used in qualification. Lenders verify balances, ownership, and that funds are liquid and accessible.
Most lenders require 620 minimum, but 680+ gets you better rates. Higher credit scores offset the non-QM risk profile these loans carry.
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.