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San Francisco has one of the highest concentrations of liquid wealth in the country. Tech exits, stock portfolios, and inherited assets are common here — but traditional W-2 income often isn't.
Asset depletion loans let lenders count your liquid assets as income. If you have the wealth but not the paycheck, this loan was built for your situation.
660+
Min Credit Score
20–30%
Down Payment
60 Days Min
Asset Seasoning
No W-2 Needed
Income Required
Non-QM
Loan Type
Asset Depletion Loans in San Francisco
Lenders divide your eligible assets by a set number of months — often 60 to 360 — to create a monthly income figure. That number gets used to qualify you for the loan.
Most lenders want to see 660+ credit and assets well above the loan amount. Down payments typically run 20–30%. Rates vary by borrower profile and market conditions.
Local decision guide
Use this guide to connect asset depletion loans eligibility, lender expectations, and local market factors before comparing payment options in San Francisco.
San Francisco has one of the highest concentrations of liquid wealth in the country. Tech exits, stock portfolios, and inherited assets are common here — but traditional W-2 income often isn't.
Asset depletion loans let lenders count your liquid assets as income. If you have the wealth but not the paycheck, this loan was built for your situation.
Lenders divide your eligible assets by a set number of months — often 60 to 360 — to create a monthly income figure. That number gets used to qualify you for the loan.
Banks rarely offer asset depletion. You'll find this product at wholesale lenders — the ones brokers access, not your corner Chase branch.
We work with 200+ wholesale lenders. Asset depletion guidelines vary significantly across them. One lender counts brokerage accounts fully. Another haircuts them 30%. Knowing which lender fits your asset mix matters.
The biggest mistake I see: borrowers trying to qualify on assets held in illiquid forms. Real estate equity, business ownership stakes, and private equity don't count. Cash, stocks, and bonds do.
If you recently sold a company or exercised stock options, document the deposit trail carefully. Lenders want seasoned assets — usually 60 days in the account minimum.
Bank statement loans are the other common non-QM option for SF borrowers. If you run a business with strong deposits, that route often gets you a better rate.
Asset depletion wins when income is genuinely absent — retirees, recent sellers, or investors living off a portfolio. DSCR loans work if the property itself generates rent. Know which profile fits before you apply.
San Francisco County has no Fannie/Freddie loan limit concern for asset depletion — this is already a non-QM product. The issue is price. SF homes regularly push $1.5M+, requiring jumbo non-QM underwriting.
As of April 2026, SF's tech-heavy buyer pool means lenders here see asset depletion applications regularly. That's good — it means underwriters in this market aren't confused by the product.
Cash, checking, savings, stocks, bonds, and vested retirement accounts typically qualify. Illiquid assets like real estate equity or business ownership don't count.
Lenders divide your eligible asset total by a set number of months to create a monthly income figure. That figure is used to calculate your debt-to-income ratio.
Yes, but most lenders apply a haircut — often 70% of the balance — to account for early withdrawal penalties. Rules vary by lender.
Condos yes, with standard condo approval requirements. Co-ops are rare in SF and most non-QM lenders won't touch them.
Non-QM products like asset depletion carry higher rates than conventional loans. Rates vary by borrower profile and market conditions.
Most lenders require reserves after closing — often 12 months of payments. Depleting your account at close can kill the deal.