Most asset depletion Non-QM programs finance single-family homes, townhomes, warrantable condos, and select 2–4 unit properties — with occupancy and LTV overlays by investor.
Asset depletion is a qualifying method, not a property program of its own. Investors still underwrite the collateral: appraisal, condition, condo project status, and occupancy.
Primary single-family and townhomes are the most common fit. Condos need project review. 2–4 units may require more equity and reserves. Investment occupancy is investor-specific — DSCR can be cleaner for pure rentals.
Ryan & Steve check property type against the same investor you would use for the asset calc so you do not fall in love with a listing that the program cannot fund.
Guidelines vary by investor, credit, and loan amount. This overview is educational — your file is reviewed against current product rules.
Property type and how you will use the home both matter.
Broadest property menu and usually the strongest LTV. Ideal for downsizers and first-time asset-based buyers.
Often available for SFH and some condos with higher equity and reserves than primary.
Warrantable projects clear faster; non-warrantable may need specialty Non-QM condo overlays.
Some depletion investors allow it; others steer you to DSCR. We compare both before you write an offer.
Share the listing early. We confirm property type, condo project status, acreage, and occupancy against the investor that fits your asset profile.
That prevents appraisal delays and last-minute program changes after your earnest money is at risk.
Property eligibility checklist
Related asset depletion guides and Non-QM resources from Ryan & Steve.
Mid-600s floors and how FICO affects occupancy options.
Credit, equity, reserves, and liquid asset size.
Retiree paths for primary and second-home goals.
Full program hub and application steps.
2MG Daily
Recent articles on asset depletion financing, Non-QM options, and property eligibility.
Sep 10, 2026 • 2MG Daily
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Oct 2, 2026 • 2MG Daily
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Most programs allow 1–4 unit residential properties: single-family homes, townhomes, warrantable condos, and sometimes PUDs. 2–4 unit primary residences may be available with stronger credit, LTV, and reserves.
Often yes when the project meets investor condo guidelines (warrantable or approved non-warrantable overlays). HOA questionnaires and project reviews still apply.
Some Non-QM investors allow certain manufactured homes; others exclude them. Age, foundation, and title requirements are strict — we confirm eligibility early.
Some asset depletion investors allow investment occupancy; others limit the program to primary or second homes. DSCR may be a cleaner path for pure rentals.
Ryan & Steve will confirm property type and occupancy against current Non-QM investors before you write the offer.