Asset Depletion / Asset-Based Cash-Out Refinance

[Michelle Sharko]

Need advice??
Asset Depletion / Asset-Based Cash-Out Refinance on Wisconsin second home, with no mortgage

No job — qualifying with $820k liquid assets. Want $150k–$200k cash-out. Occasional rental income hopefully more this summer, just started renting it out.

[Matthew Bernal]

This is a fundable scenario for the right lender — asset depletion programs are built exactly for your situation.

With $820K liquid the asset depletion calculation typically divides your assets over the loan term to create qualifying income — no job required. On a $150K–$200K cash-out with a free and clear property your LTV should be very comfortable depending on the appraised value.

The STR rental income starting this summer could also supplement qualification depending on the program, especially as documentation builds.

Two things I'd want to know to give you a straight answer on fit: the approximate value of the Wisconsin property and whether the $820K is in liquid accounts or includes retirement assets, since some programs treat those differently.

Happy to move quickly on this — feel free to DM me with those details.