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Monte Sereno is one of the wealthiest small cities in Santa Clara County. High net worth residents here often hold substantial assets but show modest W-2 income.
Asset depletion loans convert your liquid assets into qualifying income. No job required. No pay stubs. Your portfolio does the work.
Varies by lender
Min Credit Score
Typically 20–30%
Down Payment
60–90 days
Asset Seasoning
None required
Income Docs Needed
Non-QM / Portfolio
Loan Type
Asset Depletion Loans in Monte Sereno
Lenders divide your eligible liquid assets by a set term — typically 60 to 84 months. That number becomes your monthly qualifying income.
Eligible assets usually include checking, savings, brokerage, and retirement accounts. Vested retirement funds often get a discount applied before the calculation.
Most banks won't touch asset depletion loans. These are non-QM products held by private and wholesale lenders — not sold to Fannie Mae or Freddie Mac.
Rate spreads across lenders can be wide on non-QM products. Shopping 8 to 10 lenders matters here far more than it does on a conventional loan.
The biggest mistake I see: borrowers assume any liquid asset counts at full value. Restricted stock, deferred comp, and illiquid holdings often don't qualify.
Get your asset statements current before you apply. Lenders want 60 to 90 days of statements. Gaps or large unexplained transfers slow everything down.
Bank statement loans work well if you run a business with consistent deposits. Asset depletion fits better when your income is sporadic or has largely stopped.
DSCR loans are the right call if the property generates rental income. Asset depletion is for primary residences and second homes where there's no rental offset.
Monte Sereno sits in the Los Altos Hills corridor — one of the most expensive residential pockets in the country. Loan amounts here frequently exceed conventional limits.
Retired tech executives and early equity holders are common borrowers. Asset depletion was built for exactly this profile: large portfolios, minimal current income.
Checking, savings, brokerage, and vested retirement accounts typically qualify. Illiquid assets like real estate equity or restricted stock usually do not.
Yes. Asset depletion works for primary homes and second homes. It is not limited to investment properties.
Lenders divide eligible assets by a set number of months — often 60 to 84. That monthly figure is treated as your income for qualification.
No. Retirees are common borrowers, but self-employed individuals and executives with low taxable income also use this program regularly.
Conventional jumbo loans require verifiable income — tax returns, W-2s, or pay stubs. Asset depletion has no income requirement beyond your asset balance.
Yes, typically. Non-QM loans carry a rate premium over conventional loans. Rates vary by borrower profile and market conditions.