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Imperial Beach sits on San Diego's southern coast, where waterfront living and a relaxed beach culture draw retirees and established homeowners.
San Diego County's median household income of $102,285 reflects the region's mix of service workers, tech professionals, and retirees. In Imperial Beach, many buyers have built wealth over decades but don't have W-2 paychecks to show for it.
620+
Minimum FICO
10–20%
Down Payment Range
None
Mortgage Insurance
30–45 days
Closing Timeline
$1,104,000
2026 Conforming Limit
Asset Depletion Loans in Imperial Beach
Asset depletion loans typically require a 620+ FICO score and 10% to 20% down payment. The key difference: instead of verifying employment income, the lender calculates a monthly income figure by dividing your liquid assets by 360 months.
San Diego County's median household income of $102,285 annually translates to about $8,524 per month. Many Imperial Beach buyers exceed that in asset-based qualifying income alone.
Local decision guide
Use this guide to connect asset depletion loans eligibility, lender expectations, and local market factors before comparing payment options in Imperial Beach.
Imperial Beach sits on San Diego's southern coast, where waterfront living and a relaxed beach culture draw retirees and established homeowners.
San Diego County's median household income of $102,285 reflects the region's mix of service workers, tech professionals, and retirees. In Imperial Beach, many buyers have built wealth over decades but don't have W-2 paychecks to show for it.
Asset depletion loans typically require a 620+ FICO score and 10% to 20% down payment. The key difference: instead of verifying employment income, the lender calculates a monthly income figure by dividing your liquid assets by 360 months.
Asset depletion loans are offered by a smaller subset of California lenders than conventional or FHA programs. Brokers can access them through portfolio lenders and some credit unions that specialize in non-traditional income.
Closing timelines run 30 to 45 days, slightly longer than conventional because the asset verification step adds complexity. Lenders will request bank statements, brokerage statements, and sometimes appraisals of non-liquid assets.
Asset depletion loans make sense in Imperial Beach for retirees and semi-retired buyers who have accumulated real wealth but low W-2 income.
The program doesn't work for buyers who need to preserve every dollar of savings for living expenses. If your assets are earmarked for healthcare, travel, or other retirement spending, depleting them on paper to qualify for a mortgage creates real financial...
Asset depletion loans versus FHA: FHA requires a 580+ FICO and 3.5% down but charges lifetime mortgage insurance if your down payment is under 10%. Asset depletion typically wants 10% to 20% down and a higher FICO but skips mortgage insurance entirely.
Versus conventional: conventional loans demand full income documentation and usually 5% to 20% down. If you can't show employment income, conventional won't work. Asset depletion fills that gap by treating your savings as a substitute for paychecks.
Imperial Beach's waterfront location and proximity to the Mexican border create a unique market. Buyers here often have deep ties to the community—family, business interests, or decades of residency.
The city's median home price reflects San Diego County's overall market strength. Retirees and semi-retired professionals moving to Imperial Beach for the beach lifestyle often have the asset profile that asset depletion loans are designed for.
Yes, but with limits. Most lenders allow non-retirement liquid assets (savings, brokerage accounts) to count fully. Retirement accounts may be included at a reduced percentage or with restrictions to avoid early withdrawal penalties.
Most lenders require 620+ FICO, though some go as low as 600 with strong assets and reserves. A higher score (680+) improves your rate and terms. Your credit history matters less than your asset stability and debt-to-income ratio.
Typically 10% to 20% down. The exact amount depends on your FICO, assets, and the property value. Larger down payments improve your approval odds and rate. Some lenders may go lower with exceptional reserves.
No. Asset depletion loans skip PMI or MIP entirely. The higher down payment and asset reserves replace the insurance requirement. That's a major advantage over FHA, which charges lifetime mortgage insurance on loans with less than 10% down.
Plan for 30 to 45 days. The asset verification step takes longer than a standard conventional loan because the lender reviews bank statements, brokerage records, and sometimes asset appraisals. Providing documents quickly speeds the timeline.