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Asset Depletion Loans in Exeter
Exeter draws retirees and self-funded buyers who don't fit traditional income boxes. Your liquid assets qualify you without W-2s or tax returns.
This Central Valley town attracts portfolio holders moving from coastal markets. Asset depletion converts your savings into qualifying income.
Lenders divide your liquid assets by 360 months to create monthly income. A $1.8M portfolio creates $5,000 monthly qualifying income.
You need substantial assets to make this work. Most programs require $500K minimum in stocks, bonds, retirement accounts, or cash reserves.
Credit scores start at 680 for most lenders. Down payments range from 20-30% depending on asset levels and property type.
Not every lender offers asset depletion programs. We access 25+ non-QM lenders who underwrite these loans differently.
Some lenders accept 401(k) balances while others exclude them. A few allow foreign assets with proper documentation and valuation.
Rate spreads vary wildly between lenders on the same borrower profile. Shopping this loan type saves serious money.
Most Exeter buyers considering this loan already have substantial wealth. The question becomes whether depleting assets makes sense versus other non-QM options.
We often compare asset depletion against bank statement loans for business owners with cash flow. The better fit depends on your specific asset mix.
Retirees with pension income sometimes don't need this program. We verify pension documentation first since conventional rates beat non-QM pricing.
Bank statement loans work better if you run income through business accounts. Asset depletion wins when wealth sits in investment portfolios.
DSCR loans make sense for Exeter rental properties where rent covers the mortgage. Asset depletion fits primary residences and second homes.
Foreign national loans require different documentation but serve similar buyers. We compare both when international income complicates the picture.
Exeter properties rarely reach jumbo territory, keeping loan amounts manageable. Your asset requirements stay reasonable compared to coastal markets.
Tulare County appraisals move quickly with straightforward comps. This matters since non-QM lenders scrutinize valuations more than conventional banks.
The agricultural economy here creates unique borrower profiles. Retired farmers with land sales proceeds fit asset depletion perfectly.
Most lenders require $500K minimum in liquid assets. For a $400K purchase, expect to show $1M+ in qualifying assets to create sufficient monthly income.
Yes, most lenders include 401(k), IRA, and other retirement accounts. Some lenders discount these by 30% or exclude early withdrawal penalties from calculations.
Rates vary by borrower profile and market conditions. Expect rates 1-2% above conventional loans, typically 7-9% range currently for qualified borrowers.
Lenders accept stocks and bonds but use conservative valuations. They typically average 60 days of statements or discount total value by 20-30%.
Non-QM underwriting takes 3-5 weeks typically. Tulare County appraisals add 1-2 weeks, making total timeline 4-6 weeks from application to closing.
Most banks don't offer these programs. Brokers access 25+ non-QM lenders with different asset requirements and pricing, finding your best fit.
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.