Question 1

What assets qualify for income calculation?

Accepted Answer

Checking, savings, money market, and vested retirement accounts typically qualify. Real estate equity and illiquid assets usually don't count.

Question 2

Can I use this loan for a primary residence in Port Hueneme?

Accepted Answer

Yes. Asset depletion loans can cover primary homes, second homes, and investment properties. Lender guidelines vary by property type.

Question 3

How is my monthly income calculated?

Accepted Answer

Lenders divide eligible assets by a set term — often 60 to 84 months. That result becomes your qualifying monthly income figure.

Question 4

Do I need a high credit score to qualify?

Accepted Answer

Most non-QM lenders require at least a 680 credit score. Some programs go lower but carry higher rates. Rates vary by borrower profile and market conditions.

Question 5

Is a large down payment required?

Accepted Answer

Expect 20–30% down on most asset depletion programs. The exact requirement depends on the lender and property type.

Question 6

How does this differ from a conventional loan?

Accepted Answer

Conventional loans require verifiable income — W-2s or tax returns. Asset depletion loans replace income documentation with proof of liquid assets.

Asset Depletion Loans in Port Hueneme, CA