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Berkeley's restaurant scene just exploded with six new spots — Filipino, burger, Mexican, coffee, and Nicaraguan cuisines all opening recently. That kind of neighborhood energy matters when you're buying.
The Alameda County median household income sits at $126,240. In Berkeley, that income stretches across a wide range of home prices. Asset Depletion Loans work best for buyers with solid savings but lower documented income — retirees, business owners between...
620+
Minimum FICO
20–30%
Typical Down Payment
45–60 days
Closing Timeline
$1,249,125
2026 Conforming Limit
0.25–0.5% above conventional
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Asset Depletion Loans in Berkeley
Asset Depletion Loans typically require 620+ FICO and 20% to 30% down. The lender divides your liquid assets by 360 months to create a monthly income figure. That number gets added to any W-2 income you have.
Lenders scrutinize the source of your assets. Gifts, inheritances, and retirement account rollovers all work. Borrowed money does not. You'll need bank statements covering two to three months and proof of asset ownership.
Local decision guide
Use this guide to connect asset depletion loans eligibility, lender expectations, and local market factors before comparing payment options in Berkeley.
Berkeley's restaurant scene just exploded with six new spots — Filipino, burger, Mexican, coffee, and Nicaraguan cuisines all opening recently. That kind of neighborhood energy matters when you're buying.
The Alameda County median household income sits at $126,240. In Berkeley, that income stretches across a wide range of home prices. Asset Depletion Loans work best for buyers with solid savings but lower documented income — retirees, business owners between...
Asset Depletion Loans typically require 620+ FICO and 20% to 30% down. The lender divides your liquid assets by 360 months to create a monthly income figure. That number gets added to any W-2 income you have.
Asset Depletion Loans sit in a narrow lane. Most big retail lenders avoid them because the underwriting is manual and the loan volume is small. Brokers and portfolio lenders dominate this space.
California's conforming limit for 2026 is $1,249,125. Asset Depletion Loans stay within that ceiling. The rates run slightly higher than conventional because the income calculation is less certain.
Asset Depletion Loans make sense in Berkeley for one specific buyer: someone with substantial savings but irregular income. A retired teacher with a $600,000 portfolio and $20,000 annual pension qualifies easily.
The real advantage appears when you're self-employed or between jobs. If your last two years of tax returns show lower income than your assets justify, Asset Depletion Loans bridge that gap.
Conventional loans require documented income — W-2s, tax returns, or recent pay stubs. Asset Depletion Loans replace that with savings. Conventional is faster and cheaper if your income qualifies.
FHA loans require only 3.5% down and accept lower credit scores, but they carry lifetime mortgage insurance if you put less than 10% down. Asset Depletion Loans demand 20% to 30% down but skip mortgage insurance entirely. Pick FHA if you have limited savings.
Measure W allocated $15 million for two new affordable housing projects at People's Park and South Berkeley. That kind of public investment signals neighborhood stability.
The East Bay's restaurant boom — six new spots just opened — reflects confidence in the region's future. Neighborhoods that attract chefs and small-business owners attract stable homeowners.
Yes — most lenders accept retirement accounts (401k, IRA, SEP-IRA) as qualifying assets. You don't withdraw the money; the lender divides the balance by 360 months to create monthly income.
Most lenders require 620+ FICO. Some accept 600+ if your assets are substantial and your down payment is 25% or higher. The lower your score, the higher the rate. Pull your credit report before applying to know where you stand.
Asset Depletion Loans typically require 20% to 30% down. The higher your down payment, the easier the approval. At 20% down, you skip mortgage insurance entirely. Lenders use the down payment as proof of financial stability.
Plan on 45 to 60 days. The underwriting is manual because the income calculation is custom. Conventional loans close in 30 to 40 days. The extra time reflects the lender's need to verify your assets and income sources thoroughly.
No — that's the whole point of Asset Depletion Loans. You provide bank statements (2–3 months) and proof of asset ownership instead. If you have W-2 income, the lender will ask for one year of tax returns.