Asset depletion Non-QM typically covers SFH, townhomes, condos, and select 2–4 units. See Indiana occupancy rules.
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Asset Depletion Loans
Eligible Property Types
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.
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
— Property type and unit count
— Occupancy (primary, second, investment)
— Condo / HOA project docs if applicable
— Acreage, accessories, and unique features
Related asset depletion guides and Non-QM resources from Ryan & Steve.
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Ryan & Steve will confirm property type and occupancy against current Non-QM investors before you write the offer.