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Soledad sits in the heart of Monterey County's agricultural economy, where Navigator Charter Schools is launching a new TK-12 campus in 2026-27. The county's median household income of $94,486 supports home purchases across a range of price points.
These loans count your liquid assets as qualifying income, not just your W-2 or 1099. That means retirees, investors, and career-changers can qualify based on what they've saved.
620+
Minimum FICO
10% to 20%
Down Payment
$994,750
Conforming Limit (2026)
45–60 days
Closing Timeline
$94,486
County Median Income
Asset Depletion Loans in Soledad
Asset Depletion Loans typically require 620+ FICO and 10% to 20% down. The lender divides your liquid assets by 360 months to create qualifying income. A retiree with $300,000 in savings counts as $833 monthly income toward debt-to-income limits.
Monterey County's $94,486 median household income translates to roughly $7,874 per month. On that income alone, a conventional buyer might qualify for a $450,000 to $550,000 loan.
Local decision guide
Use this guide to connect asset depletion loans eligibility, lender expectations, and local market factors before comparing payment options in Soledad.
Soledad sits in the heart of Monterey County's agricultural economy, where Navigator Charter Schools is launching a new TK-12 campus in 2026-27. The county's median household income of $94,486 supports home purchases across a range of price points.
These loans count your liquid assets as qualifying income, not just your W-2 or 1099. That means retirees, investors, and career-changers can qualify based on what they've saved.
Asset Depletion Loans typically require 620+ FICO and 10% to 20% down. The lender divides your liquid assets by 360 months to create qualifying income. A retiree with $300,000 in savings counts as $833 monthly income toward debt-to-income limits.
Asset Depletion Loans are offered by select portfolio lenders and some credit unions. They're less common than conventional or FHA loans because they require manual underwriting.
Closing timelines run 45 to 60 days because the lender must verify and document your assets carefully. Bank statements, brokerage statements, and retirement account records all go into the file.
Asset Depletion Loans make sense in Soledad for retirees and semi-retired buyers who have substantial savings but limited W-2 income. A 65-year-old with $250,000 in a brokerage account and $2,000 monthly Social Security can now qualify for a $600,000 home.
They don't make sense if you have strong income and just want to preserve cash. A 35-year-old earning $120,000 annually should use a conventional loan and keep savings intact.
Conventional loans require documented income — W-2s, tax returns, or 1099s. Asset Depletion Loans count your savings as income instead. If you have limited income but real assets, Asset Depletion opens doors that conventional underwriting closes.
FHA loans also work for lower-income buyers but require mortgage insurance for life if you put down less than 10%. Asset Depletion Loans skip mortgage insurance entirely. The rate is typically higher than FHA, but you avoid the lifetime insurance cost.
Reservoir Farms opened a 24-acre ag-tech hub in nearby Salinas with 12 specialty crop robotics startups. That kind of innovation is drawing younger professionals and investors to Monterey County.
Monterey County Supervisors approved $9.5 million in road, park, and public-safety projects funded by Measure AA. Infrastructure investment signals long-term stability for homebuyers.
The lender divides your total liquid assets by 360 months. A $300,000 savings account becomes $833 monthly qualifying income. That income counts toward your debt-to-income ratio alongside any W-2 or Social Security income you have.
No. You qualify on savings alone if you have enough liquid assets. Retirees, semi-retired buyers, and career-changers all qualify. Any W-2, 1099, or Social Security income you do have adds to your qualifying power.
Bank accounts, brokerage accounts, money market funds, and retirement accounts (with age-appropriate withdrawal rules) all count.
Yes. Asset Depletion Loans carry a rate premium because they're manual underwriting and carry more risk. The exact premium depends on your FICO, down payment, and the lender. Call for today's quote to compare to conventional rates.
Some lenders allow it with a withdrawal penalty. Others require the funds to season for 60 days first. Your specific situation depends on the lender's guidelines. Discuss your retirement account strategy with your broker before applying.