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Asset Depletion Loans in Burlingame
What counts as an asset for Asset Depletion Loan qualification?
Bank accounts, retirement accounts (401k, IRA), investment portfolios, and brokerage accounts all count. Lenders typically exclude primary residence equity and vehicles. You'll need 2–3 months of statements to verify.
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Burlingame sits in San Mateo County, where the median household income is $156,000. Downtown San Mateo's Bespoke mixed-use project signals renewed investment in the region's core.
Asset Depletion Loans let borrowers qualify using accumulated savings when income alone falls short. This matters in a market where home prices demand creative qualification paths.
620
Minimum FICO
10–20%
Down Payment Range
$156,000
County Median Income
45–60 days
Typical Lock Period
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Asset Depletion Loans typically require a 620 FICO minimum, though stronger credit improves terms. Down payments range from 10% to 20% depending on the lender and your asset profile.
The county's $156,000 median household income translates to roughly $13,000 monthly gross. Lenders calculate your qualifying income by dividing liquid assets by a factor (often 360 months) and adding it to your actual earnings.
Local decision guide
Use this guide to connect asset depletion loans eligibility, lender expectations, and local market factors before comparing payment options in Burlingame.
Burlingame sits in San Mateo County, where the median household income is $156,000. Downtown San Mateo's Bespoke mixed-use project signals renewed investment in the region's core.
Asset Depletion Loans let borrowers qualify using accumulated savings when income alone falls short. This matters in a market where home prices demand creative qualification paths.
Asset Depletion Loans typically require a 620 FICO minimum, though stronger credit improves terms. Down payments range from 10% to 20% depending on the lender and your asset profile.
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.
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Asset Depletion Loans are less common than conventional or FHA products, but California lenders do offer them. Most require documented assets in bank statements, retirement accounts, or investment portfolios.
Underwriting takes longer because the lender must verify and value your assets carefully. Lock periods typically run 45–60 days, and you'll need recent statements (usually 2–3 months old) to qualify.
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Asset Depletion Loans shine for near-retirees or semi-retired buyers in Burlingame with strong savings but modest W-2 income. If you have $300,000 in a brokerage account but only $40,000 annual income, this program opens doors conventional lenders shut.
They don't work well for buyers with minimal assets or those who need every dollar liquid for closing costs. Lenders want to see real reserves left over after the loan funds.
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Conventional loans demand income documentation and typically a 620+ FICO, just like Asset Depletion. The key difference: conventional ignores your savings entirely, while asset depletion counts them as qualifying income.
FHA loans also ignore assets but accept lower credit scores (580+) and smaller down payments (3.5%). Asset Depletion sits between them—it rewards savers but requires more assets on hand than FHA demands.
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San Mateo County school districts placed bond measures on the June ballot, signaling ongoing investment in education. For families buying in Burlingame, that commitment to schools matters for long-term neighborhood stability.
The Michelin guide's recognition of Bay Area restaurants reflects the region's dining and cultural draw. Burlingame's location near San Francisco and the Peninsula makes it attractive to buyers seeking both suburban calm and urban access.
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Asset Depletion Loans remain a niche product in California, used primarily by borrowers with non-traditional income profiles. Demand has grown as more people retire early or transition to part-time work.
Lenders offering this program tend to be portfolio shops and credit unions rather than large national banks. They keep loans in-house, allowing more flexibility on compensating factors like strong assets and low debt ratios.
FAQ
Bank accounts, retirement accounts (401k, IRA), investment portfolios, and brokerage accounts all count. Lenders typically exclude primary residence equity and vehicles. You'll need 2–3 months of statements to verify.
Yes. Lenders want to see reserves remaining after the loan funds. If you deplete everything at closing, you won't qualify. Plan on keeping 3–6 months of reserves in place.
Most lenders won't go below 620 FICO for asset depletion loans. Some portfolio lenders may consider 600–619 with strong compensating factors like substantial liquid assets and low debt.
The 2026 conforming limit for San Mateo County is $1,249,125. Jumbo asset depletion loans exist but are rarer and carry stricter asset and credit requirements.
No. Asset depletion typically requires 10–20% down, similar to or higher than conventional. The program's advantage is qualifying income, not down payment flexibility.
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 San Mateo County
Our team of licensed mortgage brokers works San Mateo 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 San Mateo 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.