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Asset Depletion Loans in Lemon Grove
Do I need current employment income to qualify for an Asset Depletion Loan?
No. Lenders count your savings and investments as qualifying income instead. You divide your total liquid assets by 360 months to calculate monthly income.
01
San Diego County just completed its biggest year of low-income housing construction in nearly 40 years. That momentum signals growing opportunity for buyers with substantial savings but limited current employment income.
Asset Depletion Loans let you qualify using liquid assets instead of W-2 income. Lenders divide your total savings by 360 months to calculate qualifying income.
620+
Minimum FICO Score
10–20%
Down Payment Range
$102,285
County Median Income
$1,104,000
2026 Conforming Limit
45–60 days
Typical Underwriting
02
Most lenders require a 620+ FICO score for Asset Depletion Loans. Compensating factors like substantial assets or a larger down payment can help with lower scores.
Typical down payments run 10% to 20% depending on your asset position. The county's median household income of $102,285 supports purchases in the $400,000 to $550,000 range comfortably.
Local decision guide
Use this guide to connect asset depletion loans eligibility, lender expectations, and local market factors before comparing payment options in Lemon Grove.
San Diego County just completed its biggest year of low-income housing construction in nearly 40 years. That momentum signals growing opportunity for buyers with substantial savings but limited current employment income.
Asset Depletion Loans let you qualify using liquid assets instead of W-2 income. Lenders divide your total savings by 360 months to calculate qualifying income.
Most lenders require a 620+ FICO score for Asset Depletion Loans. Compensating factors like substantial assets or a larger down payment can help with lower scores.
Rate check
Tell us the price range, down payment and credit range you are working with. We compare every lender we work with and show you the options side by side.
03
Asset Depletion Loans are offered by portfolio lenders and some specialty banks. Fewer lenders carry this program than conventional or FHA, so shopping multiple sources matters.
Underwriting takes 45 to 60 days because asset verification and seasoning checks are thorough. Plan your timeline accordingly if you have a closing deadline.
04
Asset Depletion Loans shine for retirees and savers with limited W-2 income but real wealth. If you have $200,000 in savings and no current job, this program opens doors conventional lenders close.
Above $550,000 purchases, the down-payment requirement climbs and asset depletion becomes less practical. At that point, stated-income or jumbo programs often make more sense.
05
Asset Depletion Loans require more assets than FHA's 3.5% down but skip the lifetime mortgage insurance. For savers, that trade-off often pencils better over a 15-year hold.
Conventional loans demand current income and typically 5% to 20% down. Asset Depletion Loans flip the requirement — your savings become the income, and employment history takes a back seat.
06
The team behind popular Chula Vista cafe Galū is opening a sister location in City Heights this fall. That kind of neighborhood investment signals growing appeal for buyers in the broader San Diego area.
San Diego is seeking exemptions to new state law requiring high-rise housing near transit stops. Local housing policy remains in flux, but the county's recent construction surge shows real momentum.
07
Asset Depletion Loans remain a niche product in California. Most portfolio lenders and specialty banks carry them, but availability varies by region and lender appetite.
Demand for this program grows among retirees and business owners with seasonal income. Lenders increasingly recognize assets as legitimate qualifying income when employment is absent.
FAQ
No. Lenders count your savings and investments as qualifying income instead. You divide your total liquid assets by 360 months to calculate monthly income.
Most lenders require a 620+ FICO score. Some may go lower with compensating factors like substantial assets or a larger down payment.
Yes. Lenders count IRAs, 401(k)s, and other retirement accounts as liquid assets. You'll need recent statements showing the account balance and ownership.
Typically 10% to 20% depending on the lender and your asset position. The larger your down payment, the more assets the lender can count toward income.
Expect 45 to 60 days. Asset verification and seasoning checks take longer than conventional loans. Plan accordingly if you have a closing deadline.
Programs for first-time buyers that allow lower down payments and more forgiving credit and income rules.
Explore refinancing options to lower your rate, tap equity, or switch loan terms.
SRK CAPITAL in San Diego County
Our team of licensed mortgage brokers works San Diego County every week. Tell us where you are in the process and we will map out the loan, the timeline and the money you need at closing, with no obligation.
What working with us looks like
Licensed mortgage brokers
You talk with a broker, not a call center, from the first question to closing day.
17-21 day typical close
Most purchase loans close in 17-21 days once your paperwork is in.
Every county in California
We work across the state, including San Diego County, so local limits and rules are already familiar.
Financing solutions for rental properties, fix-and-flip projects, and real estate portfolios.
Mortgage programs with alternative income documentation for business owners and freelancers.
Federally insured or guaranteed programs (FHA, VA, USDA) that let lenders accept lower credit scores and smaller down payments.
Traditional mortgage options meeting standard lending guidelines with various term structures.
Alternative lending programs for borrowers who need flexible documentation or unique loan structures.
This page is for educational purposes only and does not constitute financial, legal, or tax advice. Mortgage rates, terms, and program availability can change and vary by borrower and property. Consult a licensed mortgage professional for guidance on your scenario.