Question 1

What assets qualify for asset depletion in Wheatland?

Accepted Answer

Checking, savings, brokerage, and vested retirement accounts typically qualify. Lenders verify and may discount retirement assets depending on your age.

Question 2

Can I use this loan on a Wheatland primary residence?

Accepted Answer

Yes. Asset depletion works on primary residences, second homes, and investment properties. Each property type may carry different down payment requirements.

Question 3

What credit score do I need?

Accepted Answer

Most lenders want 680 or higher. Some go lower with larger asset reserves. Expect the rate to reflect your credit tier.

Question 4

How is my qualifying income calculated?

Accepted Answer

Lenders divide eligible assets by a set number of months — commonly 60 to 84. The result is your monthly qualifying income for underwriting purposes.

Question 5

Are asset depletion rates higher than conventional rates?

Accepted Answer

Yes, typically. Non-QM loans carry a rate premium over conventional financing. Rates vary by borrower profile and market conditions.

Question 6

Do I need to actually spend down my assets?

Accepted Answer

No. The math is used to establish income on paper. You keep your assets — lenders just use the formula to verify you can service the debt.

Asset Depletion Loans in Wheatland, CA