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Rancho Palos Verdes sits on the Palos Verdes Peninsula, where median home prices run well above the county average. Buyers here often have substantial assets but limited recent income—retirees, business owners between ventures, and those living off...
The Los Angeles County median household income is $87,760, but Rancho Palos Verdes homes typically sell for far more. That income-to-price gap is exactly where asset depletion shines. You don't need to show current paychecks; you show the bank account instead.
620–640
Minimum FICO
10–20%
Typical Down Payment
45–60 days
Underwriting Timeline
$87,760
County Median Income
Asset Depletion Loans in Rancho Palos Verdes
Asset depletion loans typically require 620+ FICO, though 640+ is more common. Down payment ranges from 10% to 20% depending on the lender and your asset position.
Los Angeles County's median household income is $87,760. In Rancho Palos Verdes, that income alone wouldn't qualify you for a $1,000,000+ purchase.
Local decision guide
Use this guide to connect asset depletion loans eligibility, lender expectations, and local market factors before comparing payment options in Rancho Palos Verdes.
Rancho Palos Verdes sits on the Palos Verdes Peninsula, where median home prices run well above the county average. Buyers here often have substantial assets but limited recent income—retirees, business owners between ventures, and those living off...
The Los Angeles County median household income is $87,760, but Rancho Palos Verdes homes typically sell for far more. That income-to-price gap is exactly where asset depletion shines. You don't need to show current paychecks; you show the bank account instead.
Asset depletion loans typically require 620+ FICO, though 640+ is more common. Down payment ranges from 10% to 20% depending on the lender and your asset position.
Asset depletion loans are a niche product. Most retail banks and large mortgage companies don't offer them; you'll find them through mortgage brokers and portfolio lenders who specialize in non-traditional income.
Underwriting takes longer than conventional loans because the lender must verify and analyze your assets in detail. Expect 45–60 days to close.
Asset depletion loans make sense in Rancho Palos Verdes when you have $500,000+ in liquid assets but little current income. If you're a retiree with a $1,500,000 portfolio and $40,000 annual Social Security, this is your path.
They don't make sense if you have steady W-2 income or self-employment income you can document. A conventional or jumbo loan will almost always be cheaper and faster.
Compared to conventional loans, asset depletion loans carry higher rates and longer underwriting. A conventional loan requires income documentation; asset depletion requires asset documentation. If you can qualify on income, conventional is faster and cheaper.
Compared to FHA loans, asset depletion is more flexible on down payment and doesn't require mortgage insurance. FHA requires 580+ FICO and 3.5% down but demands income verification.
Rancho Palos Verdes is known for its coastal bluffs, ocean views, and low-density neighborhoods. The area attracts retirees and empty-nesters who've sold primary residences and have capital to deploy.
The Palos Verdes Peninsula has excellent schools and a strong sense of community. Many buyers here are downsizing from larger homes or relocating from out of state with proceeds in hand.
Bank accounts, money market funds, stocks, bonds, mutual funds, and retirement accounts (IRA, 401k) all count. The lender will request statements from the past 2–3 months.
No. The entire point is to qualify without employment income. You need documented liquid assets and a clean credit history. Retirees, business owners between ventures, and those living off investments are the typical borrowers.
Typically 10–20% depending on the lender and your total asset position. Some lenders require 15% minimum; others will go as low as 10% if your assets are substantial and well-documented. Ask your broker for the specific lender's requirements.
Yes. Asset depletion loans typically run 0.5–1.5% higher than conventional rates because the lender views them as higher risk. The trade-off: you can qualify when conventional lending is impossible.
Expect 45–60 days from application to closing. Asset verification and analysis take time. Conventional loans often close in 30–45 days, so asset depletion is slower but still reasonable for a specialty product.