How the calculation works
Eligible balances, after any program discounts, are divided over a set term to produce monthly qualifying income, which may be combined with other documented income.
Florida mortgage pillar
Asset depletion mortgages in Florida.
Amortizing eligible assets into qualifying income for retirement-market buyers.
Direct answer
Florida Asset Depletion Loans: what should Florida borrowers know?
An asset depletion mortgage divides eligible assets across a defined number of months to create a qualifying income stream. It is used most often by retirees and near-retirees whose Social Security, pension, and distribution income alone would not support the target payment. Florida's Gulf Coast retirement markets are among the most common settings for this structure.
Reviewed by Vabasso Mortgage editorial team · Mortgage lending review · Last reviewed
- Assets are used in a calculation, not required to be withdrawn.
- The depletion period and eligible account list vary by program.
- Frequently paired with jumbo financing on higher-priced homes.
- Documented seasoning of accounts is expected.
Where it fits in Florida
Buyers moving to Naples, Sarasota, Venice, or the Emerald Coast after a career elsewhere frequently have large portfolios and modest taxable income — the exact profile these programs were designed around.
What to prepare
Recent statements for all accounts used, documentation of ownership, and an understanding of which accounts carry withdrawal restrictions.
Popular loan programs
Financing options commonly considered here
Programs commonly explored alongside florida asset depletion loans. Eligibility, terms, and availability depend on the borrower, the property, and current program guidelines.
These are commonly considered programs — not a commitment to lend. Eligibility, pricing, and structure depend on your profile and the specific property.
Asset Depletion
Asset Depletion Mortgage
Qualify using the wealth you've built.
Explore program Asset QualifierAsset Qualifier Mortgage
Your balance sheet is your qualification.
Explore program JumboJumbo Loan
Premium financing beyond conforming limits.
Explore program ConventionalConventional Loan
The industry standard for home financing.
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FAQs
Common questions about buying in Florida Asset Depletion Loans
Do I need to be retired?
No. The program is defined by how income is documented, not by employment status.
Will I have to withdraw the funds?
Generally no — the assets support a calculation.
Are IRAs and 401(k)s eligible?
Often, subject to discounts and access rules that vary by program.
Can I combine this with pension or Social Security income?
Typically yes; documented income sources may be added together.
Is this available for condominiums?
Yes, subject to the same project review any condominium purchase requires.
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Related glossary terms
Mortgage Glossary
MortgageAnnual Percentage Rate (APR)Loan-to-Value (LTV)Debt-to-Income Ratio (DTI)Pre-ApprovalClosing Costs
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Information on this page is educational and does not constitute a loan approval, rate quote, or commitment to lend. Eligibility depends on borrower, property, and program guidelines. Vabasso Mortgage is an Equal Housing Lender.