Question 1

What assets qualify for depletion calculation in Industry, CA?

Accepted Answer

Checking, savings, stocks, bonds, mutual funds, and IRA or 401k accounts work. Real estate equity and business assets don't count as liquid reserves.

Question 2

Can I use asset depletion on a primary residence in Los Angeles County?

Accepted Answer

Yes, but most lenders require higher reserves for primary homes than investment properties. Expect 12-18 months of mortgage payments in the bank after closing.

Question 3

How much income does $1 million in assets generate for qualifying?

Accepted Answer

At 360-month depletion, $1 million creates $2,778 monthly income. Some lenders use 240 months, which generates $4,167 monthly qualifying income.

Question 4

Do I need tax returns for asset depletion loans?

Accepted Answer

Most lenders don't require tax returns. They verify assets through 60 days of account statements showing consistent balances.

Question 5

What credit score do I need for asset depletion in Industry?

Accepted Answer

Minimum scores start at 620, but you'll get better rates at 680+. Higher credit opens more lender options and lower down payments.

Asset Depletion Loans in Industry, CA — Qualify Without W-2 Income