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Anderson sits in Shasta County, where the median household income is $71,931. Asset Depletion Loans let retirees count savings and investments as monthly income instead of requiring paychecks.
Shasta County is investing in infrastructure and housing. The Redding Rancheria health complex opens in 2027, signaling long-term regional growth for buyers with assets.
620 FICO
Minimum Credit Score
3% to 10%
Down Payment Range
45 to 60 days
Closing Timeline
$300,000+ liquid
Asset Requirement
Asset Depletion Loans in Anderson
Asset Depletion Loans let lenders count a portion of your liquid assets as monthly income. If you have $300,000 in savings, the lender divides it by 360 months to create qualifying income.
A 620 FICO is typical for this loan type, though some lenders go lower. Down payment ranges from 3% to 10% depending on the lender and your assets.
Local decision guide
Use this guide to connect asset depletion loans eligibility, lender expectations, and local market factors before comparing payment options in Anderson.
Anderson sits in Shasta County, where the median household income is $71,931. Asset Depletion Loans let retirees count savings and investments as monthly income instead of requiring paychecks.
Shasta County is investing in infrastructure and housing. The Redding Rancheria health complex opens in 2027, signaling long-term regional growth for buyers with assets.
Asset Depletion Loans let lenders count a portion of your liquid assets as monthly income. If you have $300,000 in savings, the lender divides it by 360 months to create qualifying income.
Asset Depletion Loans are niche products. Most retail banks don't offer them; portfolio lenders and credit unions lead the market.
Underwriting takes longer because the lender must verify and value your assets carefully. Closing timelines run 45 to 60 days, not the 30-day conventional standard.
Asset Depletion Loans make sense in Anderson for retirees with $300,000+ in liquid assets and minimal W-2 income. If you sold a business or inherited money, this loan opens a path that conventional and FHA cannot.
These loans don't work for buyers with strong W-2 income. If you earn $80,000 a year, a conventional or FHA loan will be cheaper and faster.
Asset Depletion Loans versus FHA: FHA requires a job or income source. Asset Depletion counts your savings instead. If you're retired with no W-2, FHA won't qualify you.
The tradeoff is cost and speed. FHA closes in 30 days and carries lower rates. Asset Depletion takes 45 to 60 days and costs more per month.
Shasta County is building. Red Bluff broke ground on 60 units of affordable housing, and Redding Rancheria's health complex reaches completion in 2027.
Mt. Shasta's summer 2026 calendar includes a brewfest, concert series, and blackberry festival. Outdoor recreation matters to retirees choosing where to settle.
Yes. Asset Depletion Loans count your liquid assets as income, not your paycheck. You need $300,000+ in savings or investments.
Lenders divide your total liquid assets by 360 months. A $300,000 account becomes $833 per month in qualifying income.
Most lenders require 620 FICO. Some portfolio lenders go lower, down to 580. Higher scores get better rates.
Expect 45 to 60 days. Asset verification takes time — the lender reviews bank statements and investment accounts carefully.
Yes, typically 0.5% to 1% higher in rate. You pay for specialization and longer underwriting. If you have W-2 income, FHA is cheaper.