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Graeagle sits in Plumas County, where the Treasure Canyon gold mine project is reshaping local development. The county's median household income of $64,946 reflects a quieter mountain market where retirement and fixed income are common.
Asset Depletion Loans let retirees use savings and investments to qualify, not just monthly paychecks. This matters in Graeagle, where many buyers have substantial assets but modest ongoing income.
620
Minimum FICO
20% typical
Down Payment
45-60 days
Underwriting Timeline
$832,750
2026 Conforming Limit
Asset Depletion Loans in Graeagle
Asset Depletion Loans require a 620+ FICO score and typically 20% down, though some lenders accept 15%. Your liquid assets are divided by 360 months to create qualifying income, so $200,000 in savings adds roughly $556 monthly income.
Plumas County's median household income of $64,946 buys a modest home here. With asset depletion, a retiree with $300,000 in savings can qualify for significantly more purchasing power than income alone would allow.
Local decision guide
Use this guide to connect asset depletion loans eligibility, lender expectations, and local market factors before comparing payment options in Graeagle.
Graeagle sits in Plumas County, where the Treasure Canyon gold mine project is reshaping local development. The county's median household income of $64,946 reflects a quieter mountain market where retirement and fixed income are common.
Asset Depletion Loans let retirees use savings and investments to qualify, not just monthly paychecks. This matters in Graeagle, where many buyers have substantial assets but modest ongoing income.
Asset Depletion Loans require a 620+ FICO score and typically 20% down, though some lenders accept 15%. Your liquid assets are divided by 360 months to create qualifying income, so $200,000 in savings adds roughly $556 monthly income.
Asset Depletion Loans are offered by a small number of portfolio lenders and credit unions in California. Fannie Mae and Freddie Mac don't buy these loans, so lenders keep them on their own books and set stricter overlays.
Underwriting takes 45-60 days because asset verification is thorough. Appraisals, title work, and final documentation follow standard timelines, but the asset review adds complexity that retail banks often won't handle.
Asset Depletion Loans make sense in Graeagle for retirees with solid savings but low pension income. A buyer with $400,000 in retirement accounts and $30,000 annual income qualifies for far more than conventional underwriting allows.
They don't work for younger buyers with employment income or for those with minimal liquid assets. If you have a W-2 job, conventional financing will be faster and cheaper.
Conventional loans require documented income and typically 20% down with no PMI. Asset Depletion Loans skip the income requirement but demand more asset proof and take longer to close.
FHA loans accept lower credit scores and smaller down payments but add lifetime mortgage insurance. Asset Depletion Loans avoid mortgage insurance entirely but are harder to find and more expensive.
Feather River College's Upward Bound program brings college exposure to Plumas County students. That investment in education signals a community committed to long-term growth, which supports stable home values for buyers planning to stay.
The new Feather River State Park in adjacent Yuba County adds outdoor recreation within 30 minutes. Mountain buyers value proximity to trails, water access, and natural amenities that support lifestyle and resale appeal.
Yes. Retirement accounts count as liquid assets for qualification. The lender divides the balance by 360 months to create qualifying income. Withdrawals aren't required.
Yes — you can be working or retired. The loan is designed for borrowers whose assets exceed their documented income. Self-employed and retired buyers both qualify.
Most lenders require a 620 minimum FICO. Some portfolio lenders go as low as 600 with compensating factors. Higher scores (680+) get better rates and faster approval.
Plan for 45-60 days. Asset verification takes extra time compared to conventional loans. Appraisal and title work follow standard timelines, but the asset review is the bottleneck.
No. Asset Depletion Loans typically require 20% down and carry no PMI. You avoid the lifetime insurance cost that FHA borrowers face.