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7 CFR Part 3555: 3555.152 (d)
Example: Calculating Income from Assets
• Checking account (non‐interest bearing): $17,000
• Savings account (.25% interest): $24,000
• Certificate of Deposit (3% interest): $15,000
Total Assets: $56,000 less $5,000 from checking used to
purchase the home
Remaining Assets = $51,000
• This is an example of when and how to calculate assets to be included in the total
household annual income.
• This applicant has a non-interest bearing checking account with a balance of $17,000 as
well as a savings account that earns .25% interest annually with a balance of $24,000.
• The applicant also has a Certificate of Deposit that earns 3% annual interest with a
current balance of $15,000.
• The applicant will use $5,000 from checking towards the purchase of the dwelling.
• The total of all eligible non-retirement assets is $56,000, minus the $5,000 that will be
used to purchase the home, bringing the remaining balance of assets to $51,000.
• This is more than the $50,000 threshold, therefore an income calculation is required.
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