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Fortuna sits in Humboldt County where the Great Redwood Trail master plan is reshaping regional recreation and property appeal. The county's median household income is $61,135, and homes here reflect that affordability relative to coastal California.
These loans treat retirement accounts, investment portfolios, and liquid assets as qualifying income by dividing the balance by 360 months. That means a $500,000 IRA counts as roughly $1,389 monthly income.
620
Minimum FICO
10–20%
Down Payment
45–60 days
Underwriting Timeline
62+ (typically)
Age Requirement
Asset Depletion Loans in Fortuna
Asset Depletion Loans typically require a 620 FICO minimum, though 640+ strengthens approval odds. Down payments range from 10% to 20% depending on the lender and loan amount.
Humboldt County's median household income of $61,135 buys a modest home outright in many Fortuna neighborhoods. For retirees, the asset-depletion math often matters more than that income figure.
Local decision guide
Use this guide to connect asset depletion loans eligibility, lender expectations, and local market factors before comparing payment options in Fortuna.
Fortuna sits in Humboldt County where the Great Redwood Trail master plan is reshaping regional recreation and property appeal. The county's median household income is $61,135, and homes here reflect that affordability relative to coastal California.
These loans treat retirement accounts, investment portfolios, and liquid assets as qualifying income by dividing the balance by 360 months. That means a $500,000 IRA counts as roughly $1,389 monthly income.
Asset Depletion Loans typically require a 620 FICO minimum, though 640+ strengthens approval odds. Down payments range from 10% to 20% depending on the lender and loan amount.
Asset Depletion Loans are a niche product. Most retail banks and large lenders don't offer them; portfolio lenders and credit unions dominate this space.
Underwriting takes 45–60 days because asset verification is thorough. Lenders pull bank statements, investment account statements, and sometimes require a letter from a financial advisor confirming account ownership.
Asset Depletion Loans make sense in Fortuna for retirees aged 62+ with $300,000+ in liquid assets but minimal W-2 income. If you have a $400,000 portfolio and $1,500 monthly Social Security, this loan type qualifies you when conventional lenders would...
They don't make sense if you need to preserve every dollar of savings for living expenses. Lenders want to see assets remain after closing — typically 2–6 months of PITI in reserves.
FHA loans require a job or pension income on paper; Asset Depletion Loans don't. FHA accepts a 580 FICO; Asset Depletion typically starts at 620. Both allow lower down payments than conventional.
Conventional loans demand 20% down to avoid PMI and usually require active employment income. Asset Depletion Loans let you put 10% down and qualify on retirement savings alone.
Godwit Days, the spring migration bird festival returning April 16–19, draws birders and nature lovers to Humboldt County. For retirees relocating to Fortuna, that kind of active community matters.
Humboldt County high school students are exploring trades careers through county-sponsored programs. That signals economic diversification and job growth for younger family members who might move with you.
Lenders divide your total liquid retirement assets by 360 months. A $300,000 IRA becomes $833 monthly income. That amount combines with Social Security, pensions, or other income to meet the lender's debt-to-income requirement.
Most lenders require age 62+, though some accept 55+. The program is designed for retirees. If you're younger with substantial assets but no employment income, ask your broker about portfolio lenders who may have different age rules.
Savings accounts, money market accounts, CDs, stocks, bonds, mutual funds, and retirement accounts (IRAs, 401k rollovers) all count. Real estate, vehicles, and collectibles do not.
Yes. If you have part-time W-2 income, lenders count that plus your asset-depletion income. That combination often strengthens your application and may allow a higher loan amount or lower down payment.
Plan for 45–60 days. Lenders need detailed bank statements, investment account statements, and sometimes a financial advisor letter.