Loading
Loading
La Palma sits in Orange County where the median household income is $113,702. Homes here typically run $800,000 to $1,200,000, making down-payment savings a real challenge for many buyers.
Asset Depletion Loans let you count retirement accounts and savings toward qualification. This opens doors when income alone doesn't quite reach the debt-to-income threshold.
620+
Minimum FICO
10% minimum
Down Payment
45-60 days
Closing Timeline
$113,702
County Median Income
Asset Depletion Loans in La Palma
Asset Depletion Loans typically require a 620+ FICO score and at least 10% down. Lenders calculate your monthly income by dividing liquid assets by 360 months, treating that as ongoing income.
You'll need bank statements, retirement account statements, and proof of funds. The county's median household income of $113,702 buys a solid home here, but asset depletion bridges the gap when savings exceed income.
Local decision guide
Use this guide to connect asset depletion loans eligibility, lender expectations, and local market factors before comparing payment options in La Palma.
La Palma sits in Orange County where the median household income is $113,702. Homes here typically run $800,000 to $1,200,000, making down-payment savings a real challenge for many buyers.
Asset Depletion Loans let you count retirement accounts and savings toward qualification. This opens doors when income alone doesn't quite reach the debt-to-income threshold.
Asset Depletion Loans typically require a 620+ FICO score and at least 10% down. Lenders calculate your monthly income by dividing liquid assets by 360 months, treating that as ongoing income.
Asset Depletion Loans sit outside the conventional Fannie Mae box, so fewer lenders offer them. Brokers and portfolio lenders are your main sources — retail banks rarely keep these on the shelf.
Underwriting takes 45 to 60 days because each file is manual. The lender will scrutinize asset sources and verify that funds are truly available and liquid.
Asset Depletion Loans shine for La Palma buyers with strong savings but modest W-2 income. If you've built a nest egg and want to buy before retirement, this program counts that discipline.
They don't work for everyone—if your income is already strong, conventional financing will be faster and cheaper. Use asset depletion when savings are your real strength, not a backup plan.
Conventional loans require income to hit the debt-to-income ceiling, period. Asset Depletion Loans let you substitute savings for income, which is a real advantage if you've been disciplined.
The tradeoff: conventional closes in 30 days and carries lower rates. Asset Depletion takes longer and costs more, but it's the only path when your paycheck doesn't stretch far enough.
Newport Mesa Unified School District banned e-bikes at elementary and middle campuses starting in the 2026-27 school year. If you're buying in La Palma for the schools, that's a safety-focused move worth noting.
The OC Arts and Disability Festival returns April 25 at MainPlace Mall in Santa Ana. That kind of community investment signals a county that values inclusion and cultural life.
Yes. Lenders count retirement account balances as qualifying assets. They divide the total by 360 months to calculate monthly income. You don't withdraw the money — it stays invested.
Most lenders require 620 FICO or higher. Some portfolio lenders go lower with compensating factors. Call to discuss your specific score and situation.
Plan for 45 to 60 days. Manual underwriting takes longer than conventional. The lender needs detailed asset verification and source documentation.
Assets count toward down payment. Lenders verify the funds are liquid and truly available. Retirement accounts and savings both work if they've been seasoned properly.
Yes, typically. Rates run 0.25% to 0.75% higher because the program carries more risk. Closing costs are also higher due to manual underwriting and broker involvement.