Question 1

What assets count toward qualification?

Accepted Answer

Checking, savings, stocks, bonds, and mutual funds typically count at full value. Retirement accounts may count at 70% or require age 59½ depending on the lender.

Question 2

Can I combine asset depletion with other income?

Accepted Answer

Yes, lenders add your calculated asset income to any documented W-2 or 1099 income. This helps you qualify for larger loan amounts.

Question 3

How much do I need in assets for a Lafayette home?

Accepted Answer

Expect to need $3,000-4,000 in assets for every $1,000 of monthly qualifying income needed. A $6,000 monthly payment requires roughly $2.2M in countable assets.

Question 4

Do I need to liquidate my assets to close?

Accepted Answer

No, you keep your investments. Lenders verify balances but don't require you to sell anything unless needed for down payment or closing costs.

Question 5

What's the minimum down payment?

Accepted Answer

Most lenders require 20-30% down for asset depletion loans. Lower down payments increase both rate and required asset levels.

Asset Depletion Loans in Lafayette: Qualify Without Traditional Income