I’m Michael DiVita — DRE #01372066 | NMLS #241655, DiVita Home Finance (DRE #01818285 | NMLS #323700), Tiburon, CA. I’ve been in California mortgage lending since 2000 and founded DiVita Home Finance in 2007. Call (800) 239-1103.
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 is a high-cost area. For the current 2026 conforming loan limit, visit fhfa.gov. Asset depletion is available both within and above the conforming 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 for an asset depletion mortgage?
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.
Can I use asset depletion to refinance my San Diego home?
Yes. Asset depletion can be used for both purchase and refinance transactions. If your employment income has decreased since you purchased — due to retirement, reduced hours, or a career transition — asset depletion may allow you to refinance to a better rate or access equity when conventional income-based qualification would fall short.
Talk to Michael Directly
DiVita Home Finance | Tiburon, CA | In lending since 2000, founded DiVita Home Finance in 2007. Michael DiVita DRE #01372066 | NMLS #241655. Company DRE #01818285 | NMLS #323700.
💬 Text: (310) 849-9124
