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Asset Depletion Loans in Chowchilla
Can I use my retirement savings as income to qualify for a mortgage?
Yes. Asset Depletion Loans divide your liquid savings by 360 months to create qualifying income. A $360,000 account becomes $1,000 monthly income.
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Chowchilla sits in Madera County as the region prepares for major infrastructure growth. The California High-Speed Rail project's Merced-to-Madera extension will reshape the area's connectivity and property values over the next decade.
Asset Depletion Loans let retirees use their savings as qualifying income. This matters in Chowchilla, where Madera County's median household income is $75,496 and many buyers are transitioning into retirement.
620
Minimum FICO
10–20%
Down Payment Range
17-21 days
Typical Closing Time
$832,750
2026 Conforming Limit
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Asset Depletion Loans require a 620 FICO minimum and typically 10% to 20% down. The program divides your liquid savings by 360 months to create qualifying income.
Chowchilla buyers with substantial savings can qualify for homes within the 2026 conforming limit of $832,750. Most local purchases stay within conventional lending rules.
Local decision guide
Use this guide to connect asset depletion loans eligibility, lender expectations, and local market factors before comparing payment options in Chowchilla.
Chowchilla sits in Madera County as the region prepares for major infrastructure growth. The California High-Speed Rail project's Merced-to-Madera extension will reshape the area's connectivity and property values over the next decade.
Asset Depletion Loans let retirees use their savings as qualifying income. This matters in Chowchilla, where Madera County's median household income is $75,496 and many buyers are transitioning into retirement.
Asset Depletion Loans require a 620 FICO minimum and typically 10% to 20% down. The program divides your liquid savings by 360 months to create qualifying income.
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 smaller subset of California lenders. Most require documented savings in liquid accounts and a clear retirement plan.
Underwriting takes 17 to 21 days because lenders verify asset history and calculate the depletion schedule. Brokers typically work with 3 to 5 lenders who specialize in this program.
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Asset Depletion Loans work best for Chowchilla buyers with solid savings but no W-2 income. If you have $400,000 or more in liquid assets and are retired, this program opens doors that conventional lending closes.
The trade-off is rate and cost. Asset Depletion rates typically run 0.25% to 0.5% higher than conventional, and underwriting costs are higher.
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Asset Depletion Loans compete directly with FHA loans for retirees. FHA requires only 3.5% down and accepts Social Security as income, but it carries lifetime mortgage insurance if you put down less than 10%.
Asset Depletion lets you put down 10% to 15% and use your savings as income without mortgage insurance. Conventional loans demand 20% down to avoid PMI, which is out of reach for many retirees.
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Valley Children's Hospital is investing $73 million in a new ambulatory pavilion on its Madera County campus. That kind of healthcare infrastructure expansion signals long-term regional growth and job stability for families buying in Chowchilla.
The High-Speed Rail project's Merced-to-Madera extension is moving into major construction procurement. Buyers who plan to stay 10+ years benefit from improved regional connectivity and property appreciation that follows infrastructure investment.
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Asset Depletion Loans represent a small but growing share of California lending. Most activity clusters around retirees relocating to lower-cost regions like Chowchilla, where home prices align with retirement savings.
Madera County saw steady purchase activity in 2025 and 2026 as buyers recognized the region's infrastructure momentum. High-Speed Rail investment and healthcare expansion are drawing owner-occupants to the area.
FAQ
Yes. Asset Depletion Loans divide your liquid savings by 360 months to create qualifying income. A $360,000 account becomes $1,000 monthly income.
Typically 10% to 20% down, depending on the lender and your credit score. With 10% down, you avoid mortgage insurance entirely.
Plan for 17 to 21 days. Lenders need to verify your savings history and calculate your depletion schedule, which takes longer than standard loans.
No. Asset Depletion Loans are designed for retirees and people living off savings. You must have documented liquid assets, but employment income is not required.
Asset Depletion rates typically run 0.25% to 0.5% higher than conventional. The extra cost reflects the specialized underwriting and smaller lender pool.
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 Madera County
Our team of licensed mortgage brokers works Madera 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 Madera 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.