Question 1

How much in assets do I need to qualify in Burlingame?

Accepted Answer

Most lenders want $500k minimum, but competitive buyers here typically show $1 million+ to qualify for $800k+ loans. The 360-month calculation means every $360k in assets generates roughly $1k monthly qualifying income.

Question 2

Do retirement accounts count toward asset depletion qualification?

Accepted Answer

Yes, but lenders typically discount them 30-40% to account for early withdrawal penalties and taxes. A $1 million IRA might count as $600-700k for qualification purposes.

Question 3

Can I use this loan type for investment property in Burlingame?

Accepted Answer

Some lenders allow it, but DSCR loans usually make more sense for rentals. Asset depletion works best for primary residences where you've got wealth but limited income documentation.

Question 4

What interest rate should I expect versus a conventional loan?

Accepted Answer

Rates run 1-2% higher as of February 2026. On a $1.5 million loan, that's roughly $1,500-3,000 more monthly. Rates vary by borrower profile and market conditions.

Question 5

How long does asset verification take with these loans?

Accepted Answer

Plan for 2-3 weeks. Lenders verify every account you're using through third-party services. Missing statements or closed accounts add another week minimum.

Asset Depletion Loans in Burlingame: Qualify Without W-2 Income