Loading
Loading
Asset Depletion Loans in Union City
Can I qualify for an Asset Depletion Loan with no current income?
Yes. The lender counts your liquid assets as qualifying income by dividing total savings by 360 months. You need substantial assets but minimal W-2 or business income.
01
Union City buyers with substantial savings but limited current income can qualify for Asset Depletion Loans. Alameda County's median household income of $126,240 supports homes in the $800,000 to $1,100,000 range here.
The 2026 conforming limit for Union City is $1,249,125. These loans count your liquid assets as qualifying income instead of requiring W-2s or tax returns.
620
Minimum FICO
10–15%
Down Payment Range
17-21 days
Typical Closing
Divided by 360 months
Asset Calculation
02
Asset Depletion Loans require a minimum FICO score of 620. Down payments typically run 10% to 15%.
A $500,000 savings account can support a much larger loan than W-2 income alone. This approach works for retirees, business owners between ventures, and semi-retired professionals.
Local decision guide
Use this guide to connect asset depletion loans eligibility, lender expectations, and local market factors before comparing payment options in Union City.
Union City buyers with substantial savings but limited current income can qualify for Asset Depletion Loans. Alameda County's median household income of $126,240 supports homes in the $800,000 to $1,100,000 range here.
The 2026 conforming limit for Union City is $1,249,125. These loans count your liquid assets as qualifying income instead of requiring W-2s or tax returns.
Asset Depletion Loans require a minimum FICO score of 620. Down payments typically run 10% to 15%.
Rate check
Tell us the price range, down payment and credit range you are working with. We compare every lender we work with and show you the options side by side.
03
Asset Depletion Loans are offered by a smaller subset of California lenders. Portfolio lenders and some credit unions specialize in these loans because they require manual underwriting.
Closing timelines typically run 17 to 21 days. Lenders will order full asset verification and request bank statements going back several months.
04
Asset Depletion Loans make sense in Union City for retirees with $500,000+ in liquid savings but under $5,000 monthly income. Below that asset level, conventional loans or FHA are usually cheaper and faster.
The real advantage appears when assets exceed income by a wide margin. Asset depletion can cut years off your buying timeline compared to waiting for pension income.
05
Conventional loans require documented income—W-2s, tax returns, or profit-and-loss statements. Asset Depletion Loans skip that step and count your savings instead.
FHA loans work for lower-income buyers but require mortgage insurance if down payment is under 10%. Asset Depletion Loans have no mortgage insurance, though rates run slightly higher.
06
Union City sits along the BART corridor. California's new transit-oriented housing law brings denser development nearby, creating walkable neighborhoods for retirees.
Alameda County's community solar project offers residents cleaner energy and lower utility bills. Homebuyers in Union City can explore similar programs to reduce long-term housing costs.
07
Asset Depletion Loans remain a niche product in California's lending market. Most borrowers use them when conventional and FHA options don't fit their financial profile.
Union City's median home price sits well within the 2026 conforming limit of $1,249,125. This means Asset Depletion Loans can finance most purchases in the area without jumbo pricing.
FAQ
Yes. The lender counts your liquid assets as qualifying income by dividing total savings by 360 months. You need substantial assets but minimal W-2 or business income.
A minimum FICO of 620 is typical. Lenders may require higher scores if your assets are modest or your down payment is below 15%.
Expect 17 to 21 days. These loans require full asset verification and several months of bank statements, which takes longer than standard conventional loans.
Rates typically run 0.25% to 0.5% higher than conventional. You avoid mortgage insurance and income documentation, which can offset the rate difference over time.
Liquid assets like savings accounts, money market funds, and stocks count. Retirement accounts may count depending on the lender. Real estate and vehicles typically do not.
Programs for first-time buyers that allow lower down payments and more forgiving credit and income rules.
Explore refinancing options to lower your rate, tap equity, or switch loan terms.
SRK CAPITAL in Alameda County
Our team of licensed mortgage brokers works Alameda County every week. Tell us where you are in the process and we will map out the loan, the timeline and the money you need at closing, with no obligation.
What working with us looks like
Licensed mortgage brokers
You talk with a broker, not a call center, from the first question to closing day.
17-21 day typical close
Most purchase loans close in 17-21 days once your paperwork is in.
Every county in California
We work across the state, including Alameda County, so local limits and rules are already familiar.
Financing solutions for rental properties, fix-and-flip projects, and real estate portfolios.
Mortgage programs with alternative income documentation for business owners and freelancers.
Federally insured or guaranteed programs (FHA, VA, USDA) that let lenders accept lower credit scores and smaller down payments.
Traditional mortgage options meeting standard lending guidelines with various term structures.
Alternative lending programs for borrowers who need flexible documentation or unique loan structures.
This page is for educational purposes only and does not constitute financial, legal, or tax advice. Mortgage rates, terms, and program availability can change and vary by borrower and property. Consult a licensed mortgage professional for guidance on your scenario.