Question 1

How do asset depletion loans work in Oxnard?

Accepted Answer

Lenders divide your liquid assets by a set number of months to calculate qualifying income. This lets you buy an Oxnard home using savings and investments rather than employment income.

Question 2

What assets qualify for asset depletion mortgages?

Accepted Answer

Checking accounts, savings, stocks, bonds, mutual funds, and retirement accounts typically qualify. Most lenders require substantial reserves remaining after your down payment and closing costs.

Question 3

Do I need perfect credit for an asset depletion loan?

Accepted Answer

Credit requirements vary by lender, but you don't need perfect credit. Stronger credit scores help you access better rates and terms. Rates vary by borrower profile and market conditions.

Question 4

Can retirees use asset depletion loans in Ventura County?

Accepted Answer

Yes, retirees are ideal candidates for asset depletion loans. If you have substantial retirement savings but limited monthly income, this program lets you qualify based on your assets.

Question 5

How much in assets do I need to qualify?

Accepted Answer

Asset requirements depend on the property price and loan amount. Most borrowers need enough assets to demonstrate qualifying income plus reserves after down payment and closing costs.

Asset Depletion Loans in Oxnard: Qualify Using Your Savings and Investments