Question 1

What assets count for depletion calculations in Colfax?

Accepted Answer

Stocks, bonds, mutual funds, money markets, and savings accounts qualify. Retirement accounts like IRAs work but face penalties in lender math.

Question 2

Can I use asset depletion for Colfax investment properties?

Accepted Answer

Most programs limit asset depletion to primary and second homes. Investment properties need DSCR loans instead.

Question 3

How do appraisals work on rural Colfax properties?

Accepted Answer

Appraisers pull comps from wider radius due to inventory limits. This creates variance that asset buyers handle better than stretched W-2 borrowers.

Question 4

What rates apply to asset depletion loans?

Accepted Answer

Rates run 1-2.5% above conforming loans depending on credit and assets. Rates vary by borrower profile and market conditions.

Question 5

Do I need tax returns for asset depletion?

Accepted Answer

No tax returns required. Lenders verify assets through statements showing 60-90 day history and current balances.

Asset Depletion Loans in Colfax: Qualify on Wealth, Not Paychecks