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Asset Depletion Loans in Millbrae
Can I qualify for an Asset Depletion Loan if my income is too low?
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.
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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
17-21 days
Typical Close
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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.
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 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 17 to 21 days for asset depletion cases. The lender must verify and document all liquid accounts before closing.
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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.
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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.
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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.
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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.
FAQ
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 17 to 21 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.
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.