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Milpitas sits in the heart of Silicon Valley. Retired tech executives and early equity recipients live here with serious wealth — and no W-2 to show for it.
Asset depletion loans solve that problem. Lenders calculate income by dividing your liquid assets over a set term, typically 60 to 360 months.
620+
Min Credit Score
20-30% typical
Down Payment
None
Income Required
60-90 days typical
Asset Seasoning
Non-QM / Portfolio
Loan Type
Lenders divide your eligible assets by a loan term — often 360 months — to produce a monthly income figure. That number replaces your pay stub.
Eligible assets typically include checking, savings, brokerage, and retirement accounts. Vested stock and annuities may qualify depending on the lender.
Most banks don't offer asset depletion loans. These are non-QM products held in private portfolios — not Fannie Mae or Freddie Mac programs.
As a broker with access to 200+ wholesale lenders, we shop this loan type across specialty non-QM lenders. Rate and structure vary dramatically between them. Rates vary by borrower profile and market conditions.
The biggest mistake we see: borrowers tap retirement accounts thinking 100% counts. Most lenders only credit 60-70% of IRA and 401(k) balances.
Brokerage accounts with volatile holdings get discounted too. Come in with clean, seasoned liquid assets and the math works in your favor.
Bank statement loans work better if you still run a business with income flowing in. Asset depletion fits borrowers who've stopped working entirely.
DSCR loans cover investment properties using rent income. Asset depletion covers any property type — primary home, second home, or investment.
Milpitas has a dense concentration of tech retirees and early IPO beneficiaries. Many hold significant brokerage assets but report minimal taxable income.
Santa Clara County property values are high. Asset depletion borrowers here often need jumbo-sized loans, which non-QM lenders can accommodate alongside the asset calculation.
Checking, savings, brokerage, and retirement accounts typically qualify. Retirement accounts are usually discounted to 60-70% of their value.
No employment income is required. The lender treats your divided asset total as your monthly income figure.
Vested shares that are liquid may qualify. Unvested RSUs and options typically do not count toward the asset calculation.
Jumbo loan amounts are available through non-QM lenders. Your asset total and credit profile determine the ceiling.
Bank statement loans require active business income over 12-24 months. Asset depletion works when you've stopped generating regular income entirely.
Yes, non-QM loans carry higher rates than conventional. Rates vary by borrower profile and market conditions.
Asset Depletion Loans in Milpitas