Loading
Loading
Grass Valley sits in Nevada County where the median household income is $84,905. Buyers here often have retirement savings but limited monthly income on paper.
The Gold Country market moves steadily. Homes here appeal to retirees and remote workers who've relocated for the lifestyle. If you're drawing from savings to buy, asset depletion lets you show that purchasing power to the lender without waiting for Social...
620
Minimum FICO
10–25%
Down Payment Range
45–60 days
Typical Timeline
$84,905
County Median Income
Asset Depletion Loans in Grass Valley
Asset depletion loans let you divide your liquid assets by 360 months to create qualifying income. A $500,000 investment account becomes roughly $1,389 monthly income. Credit scores typically start at 620, though 640+ is common.
The county's $84,905 median household income buys a modest home outright or a mid-range property with a mortgage. Asset depletion changes the math for retirees.
Local decision guide
Use this guide to connect asset depletion loans eligibility, lender expectations, and local market factors before comparing payment options in Grass Valley.
Grass Valley sits in Nevada County where the median household income is $84,905. Buyers here often have retirement savings but limited monthly income on paper.
The Gold Country market moves steadily. Homes here appeal to retirees and remote workers who've relocated for the lifestyle. If you're drawing from savings to buy, asset depletion lets you show that purchasing power to the lender without waiting for Social...
Asset depletion loans let you divide your liquid assets by 360 months to create qualifying income. A $500,000 investment account becomes roughly $1,389 monthly income. Credit scores typically start at 620, though 640+ is common.
Asset depletion loans are a niche product. Most retail banks don't offer them; portfolio lenders and credit unions do. Underwriting is slower because the lender must verify asset history, tax returns, and account statements. Expect 45–60 days to close, not 30.
California brokers access a handful of portfolio lenders who specialize in retirement lending. These lenders typically require 12 months of bank statements and two years of tax returns. They're stricter on property condition and appraisal.
Asset depletion loans make sense in Grass Valley for retirees with substantial savings but low monthly income. The county's $84,905 median income is modest; many buyers here have six-figure portfolios.
They don't make sense if you're young with a job. Conventional or FHA loans cost less and close faster. Asset depletion is expensive insurance for a specific problem: you have money, but the IRS hasn't paid it to you yet.
Conventional loans require documented monthly income. FHA loans do too. Asset depletion loans count your savings as income instead. If you have a job or pension, conventional is cheaper and faster.
The rate difference varies by lender, but asset depletion typically runs 0.25% to 0.5% higher than conventional. You're paying for access to capital that conventional lenders won't touch.
Grass Valley attracts retirees from the Bay Area and Sacramento who want lower cost of living and small-town character. The move often means leaving a job or pension behind. Buyers here frequently have substantial retirement savings but minimal W-2 income.
The Gold Country lifestyle—outdoor recreation, arts community, lower housing costs—appeals to people in their 60s and 70s. They've sold homes in expensive markets and have cash.
Your lender divides your liquid assets by 360 months. A $600,000 investment account becomes $1,667 monthly qualifying income. The lender verifies assets with 12 months of bank statements and two years of tax returns.
No. Asset depletion loans are designed for retirees and people living off savings. Your job history and current employment don't matter. Your assets and credit score do.
Most lenders start at 620 FICO. Scores above 640 get better rates and terms. Below 620, options shrink and rates rise. Two years of clean credit history helps.
Asset depletion loans typically require 10% to 25% down. Stronger asset position and higher credit scores can lower the down-payment requirement. Some lenders offer 10% down with six-figure liquid assets.
Underwriting must verify your asset history, tax returns, and bank statements going back 12–24 months. That documentation takes time. Expect 45–60 days instead of the 30-day conventional timeline.