What is an Asset Depletion Loan?

Benefits of Asset Depletion Loans

Access to Financing Without Traditional Income: Ideal for retirees, investors, or those with irregular income sources, asset depletion loans allow you to qualify based on your liquid assets.

Utilization of Diverse Asset Classes: This program considers various types of assets, providing a comprehensive evaluation of your financial profile

No Employment Income Requirement: As the loan is based on assets, there is no need to demonstrate regular employment income, offering more flexibility for borrowers.

Preservation of Investment Strategies: By using asset depletion, you can maintain your current investment strategies without liquidating assets, allowing you to continue growing your wealth while securing the necessary financing.

WHY CHOOSE US

What We Offer To You

Welcome to Las Vegas Mortgage, where we specialize in providing tailored financing solutions through Asset Depletion Loans. This unique loan program is designed for individuals who may not have traditional income sources but possess substantial liquid assets. As a dedicated asset depletion loan specialist, I am here to help you leverage your assets to qualify for the mortgage you need, offering a flexible and practical approach to home financing.

Expertise in Asset-Based Lending

With in-depth knowledge and experience in FHA loan programs, I ensure you receive the best possible terms and rates tailored to

your financial situation.

Flexible Qualification Criteria

Asset depletion loans offer flexibility for those who may not have traditional income but have accumulated wealth in various forms. This program allows you to leverage your assets to qualify for a mortgage without the need for conventional income verification.

Seamless Process

From pre-qualification to closing, I handle all the details, making your home buying journey smooth and hassle-free.

Commitment to Clients

Your satisfaction is my top priority. I am dedicated to providing transparent, honest, and responsive service throughout the entire loan process.

Local Expertise

As a locally-based mortgage company, we have a deep understanding of the Las Vegas real estate market. Our insights and connections enable us to offer you valuable advice and assistance, whether you're buying a home in the city or the surrounding areas

Comprehensive Loan Options

We offer a wide range of mortgage products, including FHA, VA, conventional, and jumbo loans. This diverse selection allows us to tailor our offerings to meet your specific financial needs and goals, ensuring you get the most suitable loan product for your situation.

Mortgage Pre-Approval

Secure your financing before you start shopping. Our pre-approval process is quick and easy, giving you a clear understanding of your budget and making you a more attractive buyer. Start your journey with confidence!

House Shopping

Explore a wide range of properties that fit your needs and lifestyle. Whether you're looking for your first home, a vacation retreat, or an investment property, our team is here to guide you through the search and help you find the ideal match.

Loan Application

Complete your mortgage application with our streamlined and user-friendly process. Our experienced loan officers will assist you every step of the way, ensuring all your questions are answered and your application is processed smoothly. Let us help you make your homeownership dreams a reality!

WHAT’S THE BEST

Mortgage Programs

At Las Vegas Mortgage, we offer a variety of mortgage programs tailored to meet your unique financial situation and goals. Whether you're a first-time homebuyer, a seasoned investor, or somewhere in between, we have the perfect loan solution for you.

Specific Programs

FHA Loans: Ideal for those with lower credit scores or limited down payment funds.
Conventional Loans: Flexible options with competitive rates for a range of borrowers.
USDA Loans: Great for rural property buyers, offering zero down payment.
VA Loans: Exclusive benefits for veterans and active-duty military members.
DSCR Loans: Perfect for real estate investors focusing on cash flow properties.
Bank Statement Loans: Designed for self-employed borrowers who need to show income differently.
ITIN Loans: Accessible options for those without a Social Security number.
Foreign National Loans: Financing solutions for non-U.S. citizens.
Fix and Flip Loans: Short-term financing for property renovation and resale.
Cannabis Industry Loans: Tailored loan options for professionals in the cannabis sector.
1099 Loans: Options for independent contractors and freelancers with 1099 income.
Private Money Loans: Quick and flexible funding for unique situations or investments.

OUR TEAM

Our Staff Profiles

KeVIN SCHANDA

SENIOR MORTGAGE ADVISOR

NMLS 93971

JONATHAN FESSER

MORTGAGE ADIVSOR

NMLS 2225687

BONNIE CLOCKEL

MORTGAGE ADVISOR

NMLS 1906508

Frequently Asked Questions

What is an Asset Depletion Loan?

An asset depletion loan is a mortgage that allows borrowers to qualify based on their liquid assets rather than traditional income sources. It is particularly useful for retirees, investors, or individuals with substantial savings who do not have regular employment income.

How Do Lenders Calculate Income for Asset Depletion Loans?

Lenders calculate income for asset depletion loans by taking a portion of the borrower's liquid assets and dividing it by a set period, typically the loan term. For example, 100% of checking, savings, and money market accounts, and 70% of stocks, bonds, mutual funds, and vested retirement accounts may be used. This calculated income helps determine the borrower's ability to repay the loan.

Are There Specific Eligibility Requirements for Asset Depletion Loans?

Eligibility requirements typically include having sufficient liquid assets, a good credit score, and the assets being seasoned for at least six months. Lenders also look at the overall financial stability of the borrower and may require additional documentation to assess the risk.

Can Asset Depletion Loans Be Used for All Property Types?

Asset depletion loans can be used for various property types, including primary residences, second homes, and investment properties. However, the specific terms and conditions may vary depending on the property type and the lender's guidelines.

What Are the Advantages of Asset Depletion Loans?

Asset depletion loans offer several advantages, including the ability to qualify without traditional income, the use of diverse asset classes for qualification, and the flexibility to preserve investment strategies without liquidating assets. They are ideal for high-net-worth individuals or those with irregular income sources.