Question 1

Can I use my 401(k) balance to qualify without withdrawing funds?

Accepted Answer

Yes, lenders calculate income from retirement account balances without requiring withdrawals. Your 401(k) value gets multiplied by 0.70 then divided by 360 to determine monthly qualifying income.

Question 2

Do I need to keep assets in accounts after closing?

Accepted Answer

No restrictions apply after loan closes. Lenders verify assets at application and before closing only. You control your accounts completely once the mortgage funds.

Question 3

What counts as liquid assets for this program?

Accepted Answer

Checking, savings, money market accounts, stocks, bonds, mutual funds, and retirement accounts qualify. Real estate equity and business ownership stakes typically don't count as liquid.

Question 4

How does asset depletion work for Fowler properties under $400,000?

Accepted Answer

Lower purchase prices need less qualifying income, so asset requirements drop proportionally. A $350,000 purchase might qualify with $600,000 in verified assets depending on down payment.

Question 5

Can I combine asset depletion with other income sources?

Accepted Answer

Most lenders allow stacking asset-based income with Social Security, pensions, or rental income. Each income type gets documented separately then combined for qualification.

Asset Depletion Loans in Fowler: Qualify with Savings, Not Paychecks