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Millbrae sits in San Mateo County, where the median household income reaches $156,000. The Bespoke mixed-use development at the former Talbot's downtown site signals ongoing investment in the region's future.
Asset Depletion Loans let borrowers tap accumulated savings to qualify when income alone falls short. This approach matters in a market where home prices demand creative financing solutions.
620
Minimum FICO
10–20%
Down Payment Range
$1,249,125
2026 Conforming Limit
30–45 days
Underwriting Timeline
Asset Depletion Loans in Millbrae
Asset Depletion Loans require a minimum FICO score of 620 and typically ask for 10% to 20% down. The program divides your liquid assets by 360 months to add qualifying income.
San Mateo County's $156,000 median household income sets the baseline for what typical buyers earn here. With asset depletion, retirees and those with irregular income can compete in this market.
Local decision guide
Use this guide to connect asset depletion loans eligibility, lender expectations, and local market factors before comparing payment options in Millbrae.
Millbrae sits in San Mateo County, where the median household income reaches $156,000. The Bespoke mixed-use development at the former Talbot's downtown site signals ongoing investment in the region's future.
Asset Depletion Loans let borrowers tap accumulated savings to qualify when income alone falls short. This approach matters in a market where home prices demand creative financing solutions.
Asset Depletion Loans require a minimum FICO score of 620 and typically ask for 10% to 20% down. The program divides your liquid assets by 360 months to add qualifying income.
Asset Depletion Loans appeal to lenders because savings provide a clear repayment cushion. California brokers work with portfolio lenders and correspondent banks that specialize in non-traditional income.
Underwriting takes 30 to 45 days for asset depletion cases. The lender must verify and document all liquid accounts before closing.
Asset Depletion Loans make sense for Millbrae buyers with strong savings but lower W-2 income. Retirees, business owners between ventures, and those living on investment returns fit this profile well.
The 2026 conforming limit is $1,249,125, so this program works well for homes under that cap. The trade-off is rate: asset depletion typically costs 0.25% to 0.5% more than standard conventional.
Conventional loans require documented income—W-2s, tax returns, or pay stubs. Asset Depletion Loans swap that requirement for verified savings, making them ideal when your bank account is stronger than your recent earnings.
FHA loans go lower on down payment (3.5%) but charge mortgage insurance for the life of the loan if you put down less than 10%. Asset Depletion Loans avoid that insurance cost if you can put 10% or more down.
San Mateo County school districts placed bond measures on the June ballot to fund facility upgrades. For families buying in Millbrae, that commitment to schools signals long-term investment in the area.
The Bespoke development at the former Talbot's site brings new commercial space and affordable housing downtown. Mixed-use projects like this typically stabilize property values and attract younger residents.
Asset Depletion Loans remain a niche product in California, offered by portfolio lenders and some correspondent banks. Brokers who specialize in non-traditional income see steady demand from retirees moving to the Bay Area.
San Mateo County's high median income and strong real estate market attract borrowers with substantial savings. Asset depletion fills a gap for buyers who don't fit conventional or FHA boxes.
Yes. Asset Depletion Loans convert your savings into qualifying income by dividing liquid assets by 360 months. If you have $180,000 in savings, that counts as $500 per month in income.
Savings accounts, money market funds, stocks, bonds, and retirement accounts count. The lender will verify each account with bank statements and may apply a haircut to volatile investments.
Yes — 10% down is enough to skip PMI on Asset Depletion Loans under the 2026 conforming limit of $1,249,125. You don't need 20% to avoid insurance costs.
Asset Depletion underwriting typically takes 30 to 45 days. The lender must verify all liquid accounts before closing.
Yes, typically 0.25% to 0.5% higher. The premium reflects the lender's added verification work and the non-traditional income structure.