Question 1

How do Asset Depletion Loans calculate my qualifying income?

Accepted Answer

Your lender divides your liquid assets by 360 months. A $600,000 savings account becomes $1,667 per month in qualifying income. The calculation is straightforward — no guessing, no discretion.

Question 2

Do I need a job to qualify for an Asset Depletion Loan?

Accepted Answer

No. Asset Depletion Loans are built for people without W-2 income. Your savings replace your paycheck. Retirees, semi-retired buyers, and investors qualify without employment.

Question 3

What credit score do I need for an Asset Depletion Loan?

Accepted Answer

Most lenders require 640 or higher. Some will go lower with compensating factors like a large down payment or substantial assets. Call for your specific lender's floor.

Question 4

Can I use retirement accounts like IRAs or 401(k)s for qualification?

Accepted Answer

Yes. Most lenders count retirement account balances toward your qualifying assets. You don't need to withdraw the money — the balance itself counts. Verify with your lender on any restrictions.

Question 5

What's the minimum down payment on an Asset Depletion Loan?

Accepted Answer

Typically 10%. Some lenders go as low as 5% with strong compensating factors. The larger your down payment, the easier your approval and the better your rate.

Asset Depletion Loans in Waterford: Retirement Income That Counts