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San Leandro sits in Alameda County, where home prices stay well above national averages. Buyers with large portfolios but no W-2 income need a different path to qualify.
Asset depletion loans convert your liquid assets into calculated monthly income. That number goes on your loan application instead of a pay stub.
680+
Min Credit Score
20% typical
Down Payment
None
Income Docs Required
84–360 months
Asset Divisor Range
Non-QM
Loan Type
Lenders divide your eligible assets by a set number of months — typically 60 to 360 — to create an imputed monthly income figure. The larger your portfolio, the stronger that number looks.
Most lenders want a 680+ credit score and 20% down for asset depletion. Eligible assets usually include checking, savings, brokerage accounts, and vested retirement funds.
Asset depletion is a non-QM product. Most retail banks won't touch it. You need a broker with access to wholesale non-QM lenders who underwrite these regularly.
HousingWire flagged that Pennymac TPO just rolled out a non-QM suite that includes an asset qualifier option. More wholesale lenders entering this space means more competition — and better pricing for borrowers.
The asset calculation methodology differs by lender. One lender might use 360 months. Another uses 84. That difference can make or break your qualifying income on a San Leandro purchase.
Retirees and high-net-worth borrowers are the core users of this program. If you sold a business, inherited wealth, or live off investments — this loan was built for your profile.
Bank statement loans work better if you have business income flowing monthly. Asset depletion works better when your money sits in accounts rather than running through a business.
DSCR loans are for rental properties only. Asset depletion can be used on a primary residence, second home, or investment property — giving it more flexibility for San Leandro buyers.
Alameda County's prices push many buyers into jumbo territory. Asset depletion lenders typically allow loan amounts well above conforming limits — a practical fit for this market.
San Leandro has a significant retiree population. If you're drawing from a portfolio rather than a paycheck, asset depletion may be the only route that accurately reflects your buying power.
Checking, savings, brokerage, and vested retirement accounts typically count. Real estate equity and business assets usually don't.
Lenders divide your eligible assets by a set number of months. A $1.2M portfolio divided by 120 months equals $10,000 in monthly income.
Yes. Asset depletion works on primary residences, second homes, and investment properties.
Most lenders start at 680. Higher scores get better pricing — non-QM rate spreads are sensitive to credit tiers.
Yes. Non-QM products carry a rate premium over conventional loans. Rates vary by borrower profile and market conditions.
No. The assets stay in your accounts. Lenders use the balance to calculate income — you don't spend them down.
Asset Depletion Loans in San Leandro