Question 1

What asset amount do I need to buy a home in Woodlake?

Accepted Answer

You need liquid assets worth 24-36 times your monthly payment. For a $300K loan with $2,000 payment, expect to show $48-72K in qualifying accounts.

Question 2

Can I use my IRA or 401(k) for asset depletion qualification?

Accepted Answer

Yes, but lenders typically discount retirement accounts by 30% to account for early withdrawal penalties. A $500K IRA qualifies as $350K.

Question 3

How long does asset depletion underwriting take in Woodlake?

Accepted Answer

Plan for 3-4 weeks for underwriting plus extra time for rural appraisals. Total closing timeline runs 45-60 days in Tulare County.

Question 4

Do asset depletion loans work for Woodlake investment properties?

Accepted Answer

Most lenders restrict asset depletion to primary or second homes. For rentals, consider DSCR loans instead.

Question 5

What down payment is required for asset depletion loans?

Accepted Answer

Expect 30-40% down for rural California properties. Larger down payments improve rates and approval odds in markets like Woodlake.

Asset Depletion Loans in Woodlake: Finance With Wealth, Not W-2s