Question 1

Can I use my 401k to qualify for an asset depletion loan?

Accepted Answer

Yes, but lenders discount retirement accounts — often by 30–40%. A $1M 401k may only count as $600K–$700K in the calculation.

Question 2

How much in assets do I need to buy in San Buenaventura?

Accepted Answer

It depends on the loan amount and term. Lenders divide your assets over 60–84 months to create a monthly income figure.

Question 3

Do asset depletion loans require me to actually spend down my assets?

Accepted Answer

No. The calculation is hypothetical. You don't touch the assets after closing.

Question 4

Are rates higher on asset depletion loans than conventional?

Accepted Answer

Yes, typically. Non-QM programs carry a rate premium. Rates vary by borrower profile and market conditions.

Question 5

Can I use this loan for a vacation property in Ventura County?

Accepted Answer

Yes. Asset depletion works for primary homes, second homes, and investment properties. Property type affects LTV limits.

Question 6

How long does asset depletion loan approval take?

Accepted Answer

Non-QM closings usually run 21–30 days. Having 60 days of asset statements ready speeds up the process.

Asset Depletion Loans in San Buenaventura, CA