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Santee sits in San Diego County, where the median household income of $102,285 supports homes across a wide price range. The county just completed its biggest year of low-income housing construction, signaling sustained development momentum.
Asset Depletion Loans let retirees and near-retirees use retirement account balances to qualify, without forcing early withdrawals. This opens doors for buyers whose income alone wouldn't meet standard debt-to-income rules.
620
Minimum FICO
10% to 20%
Down Payment Range
2+ years
Retirement Account Seasoning
$1,104,000
2026 Conforming Limit
Asset Depletion Loans in Santee
Asset Depletion Loans require a minimum 620 FICO and typically 10% to 20% down. The lender calculates a monthly income figure from your retirement account balance, dividing the total by 360 months.
A borrower with $300,000 in retirement savings could count roughly $833 per month toward qualifying income. Combined with actual earnings, this bridges the gap when standard income falls short of the debt-to-income ceiling.
Local decision guide
Use this guide to connect asset depletion loans eligibility, lender expectations, and local market factors before comparing payment options in Santee.
Santee sits in San Diego County, where the median household income of $102,285 supports homes across a wide price range. The county just completed its biggest year of low-income housing construction, signaling sustained development momentum.
Asset Depletion Loans let retirees and near-retirees use retirement account balances to qualify, without forcing early withdrawals. This opens doors for buyers whose income alone wouldn't meet standard debt-to-income rules.
Asset Depletion Loans require a minimum 620 FICO and typically 10% to 20% down. The lender calculates a monthly income figure from your retirement account balance, dividing the total by 360 months.
Asset Depletion Loans remain a niche product in California. Most lenders require the retirement account to be seasoned (held for 2+ years) and may limit the percentage of total qualifying income derived from depletion.
Broker channels typically offer more flexibility than retail banks on asset depletion programs. Expect 45-60 day timelines and documentation requests for account statements, beneficiary designations, and proof of account ownership.
Asset Depletion Loans make sense for Santee buyers who are retired or semi-retired with solid retirement savings but modest W-2 income. The 2026 conforming limit of $1,104,000 covers most Santee purchases, and the program avoids forced IRA withdrawals.
They don't work well if your retirement account is your only asset or if you need the funds for living expenses. Lenders want to see the account will remain intact after closing.
Asset Depletion Loans differ from standard conventional loans in one key way: they count retirement savings as income. Conventional loans ignore retirement accounts entirely unless you're already withdrawing from them.
FHA loans also ignore retirement accounts at qualification but require mortgage insurance for life if down payment is under 10%. Asset Depletion avoids that insurance cost, making it cheaper long-term for borrowers with substantial retirement balances.
San Diego County is seeking delays to state law requiring high-rise housing near transit stops. This signals ongoing zoning conversations that may affect future development patterns in and around Santee.
The team behind popular Galū Cafe is opening a sister location in City Heights this fall. Growing food and retail investment in the broader county supports neighborhood stability and appeal for new homeowners.
Yes. Asset Depletion Loans count retirement account balances as qualifying income. The lender divides your account total by 360 months to calculate a monthly income figure, letting you qualify without withdrawing funds.
Yes — 620 FICO is the typical floor. Some lenders may require 640 or higher depending on the loan amount and down payment.
No. Asset Depletion Loans use the account balance for qualification only. You don't touch the funds unless you choose to. The account stays intact after closing.
Most lenders require the account to be seasoned for at least 2 years. Recent accounts or rollovers may not qualify. Bring statements showing the account history.
Typically 10% to 20% down. Some lenders may go lower with strong retirement savings and solid credit. The exact amount depends on your total assets and income profile.