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Ridgecrest sits in Kern County, where the median household income of $67,660 stretches across a market that's shifted toward retirees and fixed-income buyers.
Rates are available on application for asset depletion programs. Monthly payments depend on your specific loan amount, down payment, and credit profile. Call for today's quote and scenario.
620
Minimum FICO
4% annually
Typical asset depletion rate
10% to 25%
Down payment range
45–60 days
Underwriting timeline
Asset Depletion Loans in Ridgecrest
Asset depletion loans let lenders count your savings as income. If you have $200,000 in liquid assets, a lender might count $8,000 per year (4% annual depletion) toward qualifying income.
Credit requirements typically start at 620 FICO, though 640+ is preferred. Down payment ranges from 10% to 25% depending on the lender and your asset position.
Local decision guide
Use this guide to connect asset depletion loans eligibility, lender expectations, and local market factors before comparing payment options in Ridgecrest.
Ridgecrest sits in Kern County, where the median household income of $67,660 stretches across a market that's shifted toward retirees and fixed-income buyers.
Rates are available on application for asset depletion programs. Monthly payments depend on your specific loan amount, down payment, and credit profile. Call for today's quote and scenario.
Asset depletion loans let lenders count your savings as income. If you have $200,000 in liquid assets, a lender might count $8,000 per year (4% annual depletion) toward qualifying income.
Asset depletion loans are a niche product. Most retail banks don't offer them; portfolio lenders and credit unions are the primary sources.
Underwriting takes 45 to 60 days because lenders must verify and value your liquid assets—bank statements, investment accounts, and sometimes appraisals of non-liquid holdings.
Asset depletion loans make sense in Ridgecrest for retirees and early-retirement buyers who have substantial savings but limited W-2 income.
They don't work if your assets are illiquid (real estate, business equity) or if you need to preserve every dollar for living expenses. Lenders will deplete your savings on paper—meaning your qualifying income shrinks each year.
FHA loans also serve Ridgecrest retirees, but they require a documented income source—Social Security, pension, or investment distributions. Asset depletion skips that requirement entirely.
Conventional loans demand 20% down to avoid PMI and typically require stronger documented income. Asset depletion is more forgiving on both fronts. The tradeoff: asset depletion rates run higher, and lenders are pickier about which assets count.
The Kern River Parkway Trail northern extension is breaking ground soon—a 6-mile addition that will connect Ridgecrest more directly to Bakersfield's outdoor recreation.
Downtown Bakersfield is drawing new restaurants and events. Hoagies is opening downtown, and The Marketplace is adding Eggbred and Golden Spoon.
Most lenders use a 4% annual depletion rate. A $250,000 liquid-asset balance counts as $10,000 per year in qualifying income. Lenders verify assets through bank statements and investment account statements.
Yes, but with restrictions. IRAs and 401(k)s count only if you're old enough to withdraw without penalty (59.5+). Lenders require proof of penalty-free access. Some portfolios lenders exclude them entirely—ask upfront.
Most lenders start at 620 FICO, but 640+ is preferred and gets better rates. Asset depletion is more forgiving on income than conventional, but credit standards are firm.
Yes. As your assets deplete on paper each year, your qualifying income shrinks. After 10 years, a $250,000 asset base may have depleted $100,000 on the lender's books. Refinancing becomes harder unless you rebuild savings.
It depends. Asset depletion skips income documentation entirely. FHA requires documented income (Social Security, pension) but has lower rates. If you have substantial savings and minimal income, asset depletion wins.