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Asset Depletion Loans in Gilroy
Can I qualify for an Asset Depletion Loan if I'm retired with no W-2 income?
Yes. Asset Depletion Loans are designed for retirees. Your liquid savings are divided by 360 months to create qualifying income.
01
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
02
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.
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.
03
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.
04
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.
05
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.
06
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.
FAQ
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.
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 Santa Clara County
Our team of licensed mortgage brokers works Santa Clara 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.
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We work across the state, including Santa Clara 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.