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San Bruno sits in one of California's highest-income counties, where plenty of residents hold significant assets but lack traditional W-2 income. Retirees, trust beneficiaries, and people living off investments often get stuck when applying for conventional loans.
Asset depletion loans solve this by converting your liquid assets into qualifying income. A brokerage account with $1.2M becomes $5,000 monthly income over a 20-year amortization. Most borrowers here use this for primary homes near the Peninsula's tech corridor.
As of February 2026, some lenders now accept cryptocurrency holdings as part of asset calculations. This matters in San Mateo County, where tech-savvy buyers may hold substantial value in digital assets alongside traditional portfolios.
Asset Depletion Loans in San Bruno
You need $500K minimum in liquid assets to make this loan worthwhile. Most lenders divide your total assets by 240 or 360 months to calculate qualifying income. A $1M portfolio gives you roughly $2,778 to $4,167 monthly income depending on the term.
Credit scores start at 660, but 700+ unlocks better pricing. You'll put down at least 20% for primary homes, 25% for second homes, and 30% for investment properties. The assets must be liquid: stocks, bonds, mutual funds, money market accounts, or verified crypto.
Retirement accounts like 401(k)s and IRAs count at 70% of their value since early withdrawals trigger penalties. Real estate equity doesn't count unless it's in a REIT or similar liquid investment. Cash in checking accounts works but most deals involve six or seven-figure brokerage statements.
Maybe 30 of our 200+ wholesale lenders offer asset depletion programs. Each calculates qualifying income differently. Some use 240-month depletion, others use 360 months. A few will go down to 180 months if you're over 65.
Rates run 1% to 2% higher than conventional loans due to the non-QM structure. Expect 7.5% to 9% as of early 2026, depending on credit and loan-to-value. Rates vary by borrower profile and market conditions.
The crypto-accepting lenders verify holdings through third-party custodians. They won't accept screenshots or wallet addresses. You need formal statements from platforms like Coinbase Custody or similar institutional-grade services.
Most San Bruno buyers using asset depletion fall into three groups: early retirees from tech, people who inherited substantial portfolios, and foreign nationals with offshore accounts. The last group often combines this with a foreign national loan for better terms.
Don't drain accounts to boost your down payment. Lenders calculate income after the close, so if you pull $200K for a down payment from a $1M portfolio, you're qualifying on $800K. Keep the asset base intact until after funding.
If you're close to the income threshold, consider a 25% down payment instead of 20%. The lower loan amount might get you approved without needing to add more assets. I've closed deals where $50K less in loan size made the income work.
Bank statement loans make more sense if you're self-employed with business revenue. Asset depletion works when you have wealth but no ongoing income stream. A consultant pulling $300K annually from 1099 work should use bank statements, not assets.
DSCR loans beat asset depletion for investment properties since they ignore personal income entirely. If you're buying a rental in San Bruno, the property's rent covers qualification. Foreign national loans work better if your assets sit overseas and you lack U.S. credit.
The advantage here is you don't document income sources. A retiree living off dividends doesn't need tax returns or profit-and-loss statements. You just prove the assets exist and let the lender do the math.
San Bruno home prices mean you're looking at $1.5M to $2M for single-family properties in desirable areas. A $1.6M purchase with 20% down leaves a $1.28M loan. You'd need roughly $2.5M in liquid assets to qualify comfortably at a 240-month depletion.
The city attracts buyers who work remotely or no longer work but want Peninsula access without Palo Alto or Burlingame price tags. Asset depletion fits this profile perfectly since conventional lenders reject anyone without two years of steady W-2 income.
Proximity to SFO makes San Bruno popular with international buyers who rotate between countries. These buyers often hold assets globally and prefer non-QM programs that don't require U.S. employment history or tax returns spanning multiple years.
Stocks, bonds, mutual funds, money markets, and verified crypto holdings. Retirement accounts count at 70% of value. Real estate equity doesn't qualify unless it's in a liquid REIT.
Yes, but you'll need certified translations and third-party verification of the account balance. Some lenders require funds seasoned in a U.S. account for 60 days before closing.
They divide total liquid assets by 240 or 360 months. A $1.2M portfolio becomes $3,333 to $5,000 monthly income. Each lender uses different depletion periods.
No. The term describes how lenders calculate income, not a requirement to spend down your portfolio. Your assets stay intact after closing.
401(k)s and IRAs work but count at 70% of value due to early withdrawal penalties. A $1M IRA qualifies as $700K in assets for income calculation.
Yes. Social security, pensions, or rental income can supplement your asset-based qualification. Lenders add all sources together to meet debt-to-income requirements.