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San Bruno sits in San Mateo County where the median household income is $156,000. Asset Depletion Loans let you qualify using savings when income alone falls short.
The Bespoke mixed-use development approved downtown in San Mateo signals ongoing investment in the region. Buyers here are locking in stability as the area continues to grow.
620+
Minimum FICO
$200,000+
Typical liquid asset minimum
45-60 days
Underwriting timeline
No
Mortgage insurance required
Asset Depletion Loans in San Bruno
Asset Depletion Loans let you qualify on savings when W-2 income doesn't reach the debt-to-income threshold. Lenders typically require 620+ FICO and count a portion of liquid assets monthly.
The calculation divides your savings by 360 months to create qualifying income. San Mateo County's $156,000 median household income sets the baseline for what lenders expect.
Local decision guide
Use this guide to connect asset depletion loans eligibility, lender expectations, and local market factors before comparing payment options in San Bruno.
San Bruno sits in San Mateo County where the median household income is $156,000. Asset Depletion Loans let you qualify using savings when income alone falls short.
The Bespoke mixed-use development approved downtown in San Mateo signals ongoing investment in the region. Buyers here are locking in stability as the area continues to grow.
Asset Depletion Loans let you qualify on savings when W-2 income doesn't reach the debt-to-income threshold. Lenders typically require 620+ FICO and count a portion of liquid assets monthly.
Asset Depletion Loans are less common than conventional or FHA programs. Brokers have better access to portfolio lenders and credit unions willing to deploy this strategy.
Underwriting takes longer because lenders must verify and value your liquid assets carefully. Bank statements, investment accounts, and retirement funds all require documentation.
Asset Depletion Loans make sense in San Bruno when you have substantial savings but modest W-2 income. A retiree with $500,000 in liquid assets and $60,000 annual income qualifies easily here.
The trade-off is rate and terms. Asset depletion programs typically carry rates 0.5% to 1% higher than conventional.
Conventional loans require income to hit the debt-to-income ratio. Asset Depletion Loans substitute savings for income instead.
FHA loans also accept lower income but require mortgage insurance for life if you put down less than 10%. Asset Depletion Loans skip mortgage insurance entirely.
The Bespoke development at the former Talbot's site downtown signals San Mateo's commitment to mixed-use growth. New commercial space and affordable housing attract established buyers and families alike.
San Mateo County school districts placed bond measures on the June ballot for funding boosts. Voter support for education signals a community that values stability.
San Mateo County sees steady purchase activity from retirees and downsizers who have substantial savings. Asset Depletion Loans capture buyers who traditional income-based programs reject.
The 2026 conforming limit for San Mateo County is $1,249,125. Asset Depletion Loans work well below that ceiling.
Yes. Asset Depletion Loans count a portion of your liquid savings as monthly income. Lenders divide your total liquid assets by 360 months to create qualifying income.
Bank savings, money market accounts, stocks, bonds, and mutual funds count. Retirement accounts may count depending on the lender. Real estate and vehicles do not.
No. Asset Depletion Loans skip PMI entirely. You'll pay a higher interest rate instead of lifetime insurance costs.
Most lenders require 620+ FICO. Some portfolio lenders go lower with substantial liquid assets. The stronger your savings position, the more flexibility lenders offer.
Expect 45 to 60 days. Lenders need 3-6 months of bank statements and verification of all liquid assets. That documentation review takes longer than standard loans.