Question 1

What assets qualify for asset depletion in California?

Accepted Answer

Checking, savings, and brokerage accounts typically count at full value. Retirement accounts usually count at 70% to account for early withdrawal penalties.

Question 2

Can I use an IRA or 401k to qualify?

Accepted Answer

Yes, most lenders allow retirement accounts. They typically apply a 70% haircut to the balance before calculating your qualifying income.

Question 3

Do I need to actually withdraw the assets?

Accepted Answer

No. Lenders calculate a hypothetical monthly income from your balance. You never have to liquidate the accounts to qualify.

Question 4

How does asset depletion compare to a bank statement loan?

Accepted Answer

Bank statement loans use deposit history as income. Asset depletion uses your total holdings. If you have assets but few deposits, asset depletion is the better path.

Question 5

What credit score do I need for asset depletion in Twentynine Palms?

Accepted Answer

Most lenders require 640 minimum. Stronger scores above 700 open more programs and better pricing.

Question 6

Is asset depletion available for second homes near Joshua Tree?

Accepted Answer

Yes. Asset depletion works for primary residences and second homes. Investment properties can also qualify, though terms differ.

Asset Depletion Loans in Twentynine Palms, CA