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Fillmore attracts retirees and high-net-worth buyers who hold significant assets but little W-2 income. Asset depletion loans let you qualify based on liquid holdings like retirement accounts, stocks, and cash reserves.
This loan fits borrowers who've exited businesses, taken early retirement, or live on investment income. Lenders convert your total assets into qualifying income by dividing the balance over the loan term.
Asset Depletion Loans in Fillmore
You need substantial liquid assets to make this work. Most lenders require $500,000+ in verifiable accounts after your down payment and reserves.
Credit scores typically start at 680. Expect 20-30% down and 6-12 months of reserves. Lenders divide your assets by a calculation period to determine monthly qualifying income.
Local decision guide
Use this guide to connect asset depletion loans eligibility, lender expectations, and local market factors before comparing payment options in Fillmore.
Fillmore attracts retirees and high-net-worth buyers who hold significant assets but little W-2 income. Asset depletion loans let you qualify based on liquid holdings like retirement accounts, stocks, and cash reserves.
This loan fits borrowers who've exited businesses, taken early retirement, or live on investment income. Lenders convert your total assets into qualifying income by dividing the balance over the loan term.
You need substantial liquid assets to make this work. Most lenders require $500,000+ in verifiable accounts after your down payment and reserves.
Asset depletion sits firmly in the non-QM space. Traditional banks won't touch this program. You need specialty lenders who understand alternative documentation.
Rate premiums run 1-2% above conventional rates as of February 2025. Not every non-QM lender offers asset depletion. We shop 200+ wholesale lenders to find programs that count retirement accounts without early withdrawal penalties.
The calculation method matters more than you'd think. Some lenders divide assets by 360 months, others use the actual loan term. A $1.8 million portfolio divided by 360 months gives you $5,000 monthly income.
Watch what counts as liquid. Lenders exclude real estate equity, business ownership interests, and illiquid investments. Stick to retirement accounts, brokerage accounts, and CDs.
Bank statement loans work better if you still run a business with operating accounts. DSCR loans make sense if you're buying rental property in Fillmore and want the rental income to carry the loan.
Asset depletion beats both when you have liquid wealth but no active income stream. Foreign national loans overlap this space but require larger down payments and don't count U.S. retirement accounts.
Fillmore's agricultural heritage and small-town character appeal to buyers seeking quiet equity. Home prices here support asset depletion minimums without requiring Silicon Valley-level portfolios.
Proximity to Ventura and Santa Barbara means you're not isolated. Properties here attract retirees leaving coastal markets. Asset depletion fits that buyer profile perfectly.
Yes. Lenders count retirement account balances for qualification without requiring actual withdrawals. You never touch the principal.
Lenders use account statements from specific dates. Market fluctuations after those dates don't affect your loan approval.
No. You prove the assets exist but don't sell them. Down payment and closing costs come from liquid funds.
At a 360-month calculation, $2 million equals $5,556 monthly income. Actual figures depend on your lender's formula.
Yes. Some lenders let you stack pension income or Social Security with asset-based calculations to boost qualifying income.