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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
Asset Depletion Loans in Burlingame
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.
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.
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.
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.
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.
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.
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.