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Asset Depletion Loans in Susanville
Can I qualify for an Asset Depletion Loan if I'm retired with no W-2 income?
Yes. Lenders count retirement savings and investment accounts as qualifying income. You'll need detailed statements showing liquid assets and a written plan for how you'll draw them down over the loan term.
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Susanville sits in Lassen County, where the median household income is $64,395. A regional trail system connecting 15 Sierra towns is taking shape, signaling long-term infrastructure investment in the area.
Home prices here remain accessible compared to coastal California. Asset Depletion Loans let retirees and near-retirees use savings and investments to qualify, not just monthly income.
620
Minimum FICO
3% to 5%
Down Payment Range
$832,750
Conforming Limit (2026)
45-60 days
Approval Timeline
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Asset Depletion Loans count retirement savings, investment accounts, and liquid assets as qualifying income. Lenders typically require a 620 FICO minimum and will allow down payments as low as 3% to 5%.
The county's median household income of $64,395 buys a modest home here outright or supports a mortgage around $300,000 to $350,000 with conventional terms. Asset Depletion Loans open the door for buyers whose savings exceed their monthly income.
Local decision guide
Use this guide to connect asset depletion loans eligibility, lender expectations, and local market factors before comparing payment options in Susanville.
Susanville sits in Lassen County, where the median household income is $64,395. A regional trail system connecting 15 Sierra towns is taking shape, signaling long-term infrastructure investment in the area.
Home prices here remain accessible compared to coastal California. Asset Depletion Loans let retirees and near-retirees use savings and investments to qualify, not just monthly income.
Asset Depletion Loans count retirement savings, investment accounts, and liquid assets as qualifying income. Lenders typically require a 620 FICO minimum and will allow down payments as low as 3% to 5%.
Rate check
Tell us the price range, down payment and credit range you are working with. We compare every lender we work with and show you the options side by side.
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Asset Depletion Loans are offered by a limited set of lenders, mostly portfolio lenders and credit unions. Retail banks rarely offer them because the underwriting requires custom analysis of asset drawdown schedules.
Brokers can access these loans through correspondent channels, but approval timelines run 45 to 60 days. Documentation is heavier than conventional — expect detailed asset statements and a written depletion plan.
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Asset Depletion Loans make sense in Susanville for retirees with $300,000 to $500,000 in liquid assets but limited pension income. The 2026 conforming limit here is $832,750, so most purchases stay well within conventional range.
They don't pencil when a buyer qualifies easily on W-2 income or Social Security alone. The extra documentation cost and longer timeline aren't worth it if a standard loan works.
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Conventional loans require documented monthly income and typically 5% to 20% down. Asset Depletion Loans flip that — they count your savings as income, letting you put less down if your assets are strong.
FHA loans also accept lower down payments but carry lifetime mortgage insurance if you put under 10% down. Asset Depletion Loans skip mortgage insurance entirely, which saves money over the life of the loan.
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Lassen High School is launching a one-to-one computer program for all students. That kind of infrastructure investment signals the district is committed to keeping families in the area.
The region sits within two hours of eight top-rated campgrounds and outdoor recreation. Retirees moving to Susanville often cite access to hiking, fishing, and mountain activities as a major draw.
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Asset Depletion Loans remain a niche product in California, used primarily by retirees and near-retirees. Lenders offering them focus on borrowers with $300,000 or more in liquid assets.
Approval rates are solid when documentation is complete and assets are clearly documented. The main delay is gathering statements and creating the depletion schedule, not underwriting itself.
FAQ
Yes. Lenders count retirement savings and investment accounts as qualifying income. You'll need detailed statements showing liquid assets and a written plan for how you'll draw them down over the loan term.
Typically 3% to 5%, depending on the lender and your asset position. The exact amount varies by lender, so call for specifics on your situation.
No. Because lenders are protected by your substantial liquid assets, PMI or MIP is not required. That's a real advantage over FHA loans with less than 10% down.
Plan on 45 to 60 days. The underwriting is more detailed than conventional because the lender needs to verify your assets and approve your depletion schedule.
Most lenders require a 620 FICO minimum. Some may go lower if your assets are substantial, but 620 is the standard floor.
Programs for first-time buyers that allow lower down payments and more forgiving credit and income rules.
Explore refinancing options to lower your rate, tap equity, or switch loan terms.
SRK CAPITAL in Lassen County
Our team of licensed mortgage brokers works Lassen County every week. Tell us where you are in the process and we will map out the loan, the timeline and the money you need at closing, with no obligation.
What working with us looks like
Licensed mortgage brokers
You talk with a broker, not a call center, from the first question to closing day.
17-21 day typical close
Most purchase loans close in 17-21 days once your paperwork is in.
Every county in California
We work across the state, including Lassen County, so local limits and rules are already familiar.
Financing solutions for rental properties, fix-and-flip projects, and real estate portfolios.
Mortgage programs with alternative income documentation for business owners and freelancers.
Federally insured or guaranteed programs (FHA, VA, USDA) that let lenders accept lower credit scores and smaller down payments.
Traditional mortgage options meeting standard lending guidelines with various term structures.
Alternative lending programs for borrowers who need flexible documentation or unique loan structures.
This page is for educational purposes only and does not constitute financial, legal, or tax advice. Mortgage rates, terms, and program availability can change and vary by borrower and property. Consult a licensed mortgage professional for guidance on your scenario.