Question 1

How do lenders calculate income from assets?

Accepted Answer

They divide eligible assets by a set number of months — often 60 to 360. That monthly figure becomes your qualifying income.

Question 2

Can I use a joint brokerage account?

Accepted Answer

Sometimes. Lenders may allow joint accounts, but many require proof that you have full access. Some will only count your share.

Question 3

What credit score do I need in Simi Valley?

Accepted Answer

Most lenders start at 620. A 680 or higher score opens better rates and more program options with non-QM lenders.

Question 4

Does my 401k count as a qualifying asset?

Accepted Answer

Often yes, but at a discount — typically 60–70% of the balance. Lenders account for early withdrawal penalties if you're under 59½.

Question 5

Can I use asset depletion on a second home in Simi Valley?

Accepted Answer

Yes. Asset depletion works on primary residences, second homes, and investment properties. Expect a higher down payment on non-primary use.

Asset Depletion Loans in Simi Valley, CA