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Gilroy sits in Santa Clara County, where the median household income is $159,674. Asset Depletion Loans open the door for retirees and semi-retired buyers who have savings but limited W-2 income.
The 2026 conforming limit is $1,249,125, giving buyers in this market room to purchase without jumbo rates. Gilroy's proximity to San Jose keeps demand steady.
620
Minimum Credit Score
10–20%
Down Payment Range
45–60 days
Typical Underwriting
Significant savings
Liquid Assets Required
Asset Depletion Loans in Gilroy
Asset Depletion Loans let you qualify using liquid savings divided by 360 months. You'll need a credit score of 620 or higher and typically 10% to 20% down.
Santa Clara County's median income of $159,674 is a reference point. Your qualifying income comes from your asset base instead.
Local decision guide
Use this guide to connect asset depletion loans eligibility, lender expectations, and local market factors before comparing payment options in Gilroy.
Gilroy sits in Santa Clara County, where the median household income is $159,674. Asset Depletion Loans open the door for retirees and semi-retired buyers who have savings but limited W-2 income.
The 2026 conforming limit is $1,249,125, giving buyers in this market room to purchase without jumbo rates. Gilroy's proximity to San Jose keeps demand steady.
Asset Depletion Loans let you qualify using liquid savings divided by 360 months. You'll need a credit score of 620 or higher and typically 10% to 20% down.
Asset Depletion Loans are less common than conventional or FHA. Brokers and portfolio lenders are more likely to offer them than large retail banks.
Underwriting takes longer because lenders must verify your liquid assets carefully. Expect 45 to 60 days from application to close.
Asset Depletion Loans make sense for Gilroy retirees with substantial liquid savings. If you're semi-retired and your brokerage account is strong, this program opens doors that conventional lenders close.
They don't work well if your assets are tied up in real estate or retirement accounts. The program requires accessible, verifiable liquid funds.
Conventional loans require documented income and typically 20% down to avoid PMI. Asset Depletion Loans skip the income requirement but may ask for more down payment.
FHA loans work for lower credit scores and smaller down payments. Asset Depletion Loans avoid mortgage insurance entirely if you meet the down payment threshold.
Santa Clara University and Sutter Health are launching the Bay Area's first new medical school in over 100 years. That institutional investment supports home values across the South Bay, including Gilroy.
Strata, a new upscale two-concept restaurant, opened in downtown San Jose in May. Gilroy buyers benefit from proximity to these amenities without the premium price tag.
Yes. Asset Depletion Loans are designed for retirees. Your liquid savings are divided by 360 months to create qualifying income.
Most lenders want significant liquid, verifiable assets. The exact amount depends on your target loan size and down payment.
Bank accounts, brokerage accounts, and money market funds count. Retirement accounts and real estate equity do not.
No. PMI does not apply if you put down 10% or more. Below 10% down, PMI applies.
Expect 45 to 60 days from application to close. Asset verification takes longer than income verification.