Asset Depletion Mortgage San Diego | Retire or Invest Without W-2 Income

San Diego attracts a large and growing population of retirees, military veterans, and high-net-worth individuals who have accumulated significant assets over their careers. Many of these borrowers face a common challenge: substantial wealth but limited monthly income on paper. An asset depletion mortgage offers a solution — qualifying based on assets rather than employment income.

Why Asset Depletion Works Well in San Diego

San Diego’s median home prices regularly exceed $850,000, and many desirable neighborhoods — La Jolla, Del Mar, Rancho Santa Fe, Coronado, Point Loma — command prices well above $1M. At those price points, a retiree relying on Social Security and investment distributions may not qualify through traditional income documentation even with a $3–5M portfolio. Asset depletion bridges that gap.

Common San Diego Borrower Profiles

• Military retirees with pension income supplemented by large savings — asset depletion can add significantly to qualifying income
• Biotech and defense industry executives transitioning to retirement or consulting
• Real estate investors with equity-rich portfolios but limited W-2 income
• Retirees relocating from out of state with proceeds from a home sale and investment accounts

How Asset Depletion Is Calculated

Eligible assets are divided by the remaining loan term to produce a monthly income figure. Assets may include checking and savings accounts (100%), brokerage and investment accounts (70–100%), and retirement accounts (60–70% for borrowers under 59½; typically higher for older borrowers). This calculated income can be combined with any documented income — Social Security, pension, rental income — to build a complete qualifying picture.

San Diego Loan Amounts Available

San Diego County’s 2026 conforming limit is $1,006,250. Asset depletion is available both within and above this limit through jumbo lenders, making it viable for purchases across all San Diego price points including La Jolla, Del Mar, and Rancho Santa Fe.

Frequently Asked Questions

Can a military retiree in San Diego use both pension income and asset depletion?

Yes. Military pension income is highly valued by mortgage lenders — it’s guaranteed, non-taxable in California for many veterans, and doesn’t end. Combining it with asset depletion income often produces qualifying income well above what either source alone would generate.

What documentation is needed?

Recent account statements (typically 2–3 months) for all assets being used, along with standard mortgage documentation (credit report, property appraisal, identity verification). No employment verification or tax returns required for the asset depletion income portion.