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Greenfield sits in Monterey County, where the median household income is $94,486 and ag-tech investment is reshaping the region. Navigator Charter Schools is planning three new campuses including one in Greenfield for 2026-27, signaling confidence in the...
The 2026 conforming loan limit in Greenfield is $994,750. Rates available on application — no live pricing for this program at the time of generation.
620
Minimum FICO
10% to 20%
Typical Down Payment
45–60 days
Closing Timeline
$94,486
County Median Income
Asset Depletion Loans require a 620+ FICO score and typically 10% to 20% down. The program divides your investment portfolio balance by 360 months to create a monthly income figure.
Lenders verify the assets exist and are liquid. Bank statements, brokerage statements, and retirement account statements all count. The county's median household income of $94,486 means a typical Greenfield buyer earning that wage plus asset income can...
Asset Depletion Loans are a niche product. Most retail banks don't offer them; portfolio lenders and credit unions dominate this space. Correspondent lenders in California who specialize in retirement lending have tightened overlays in the past two years.
Documentation is heavier than conventional. Lenders want 12 months of statements for any asset they're counting. Some require a letter from a CPA or financial advisor confirming the asset base.
Asset Depletion Loans make sense in Greenfield for retirees who've sold a business, inherited property, or built substantial savings.
The trade-off is documentation and time. You'll submit more paperwork and wait longer for approval. But the rate is competitive with conventional — no premium for using assets instead of wages.
Conventional loans require documented income — W-2s, 1099s, or tax returns. If you're retired and your income has dropped, conventional underwriting stops.
FHA loans also require documented income and carry lifetime mortgage insurance if you put down less than 10%. Asset Depletion avoids that insurance entirely.
Reservoir Farms opened a 24-acre ag-tech hub in nearby Salinas with 12 specialty crop robotics startups. That kind of innovation investment signals long-term economic stability in Monterey County.
Monterey County Supervisors approved $9.5 million in road, park, and public-safety projects funded by Measure AA. Infrastructure investment matters to retirees who plan to age in place.
Yes — most lenders count retirement account balances, but some require you to be at least 59½ to avoid early-withdrawal penalties. Verify with your lender. Non-retirement liquid assets (savings, brokerage) are always acceptable.
10% down is the typical floor. Some lenders go as low as 5% for strong asset profiles, but 10% to 20% is standard. The larger your down payment, the easier the approval.
No. Asset Depletion Loans are built for retirees with zero W-2 income. Your investment portfolio, savings, and retirement accounts become your qualifying income. Social Security and pension income count too.
Plan on 45 to 60 days. The extra documentation — 12 months of asset statements, appraisals, and title work — adds time upfront. Conventional loans often close in 30 to 40 days.
No. Asset Depletion rates match conventional rates for the same credit score and down payment. Using savings as income doesn't trigger a rate penalty.
Asset Depletion Loans in Greenfield