You've built real wealth over a lifetime. Clear2 Mortgage specializes in retirement income underwriting, asset depletion programs, and the full range of financing options retirees actually qualify for.
Traditional mortgage qualification is built around W-2 income. Retirees who have saved diligently, built real estate equity, and accumulated investment accounts often find that the standard approach doesn't reflect what they can actually afford.
Social Security, pension income, and IRA distributions don't always add up to the income number a bank wants to see on paper. But they're steady, reliable, and may be entirely sufficient when paired with your asset base.
Retail banks are built for working borrowers with consistent pay stubs. Without an employer on file, the process hits walls it shouldn't. An independent broker with access to retirement income programs can work around those walls.
Some lenders will not count retirement savings unless you're actively drawing them down. Asset depletion and asset dissipation programs exist precisely to solve this, converting your balance sheet into qualifying income.
As an independent mortgage broker, Clear2 shops lenders who have purpose-built retirement income programs. That gives you options a single bank can't offer.
We divide your eligible assets (IRA, 401K, brokerage, savings) by the loan term to create a monthly income figure. Many retirees qualify for substantially more than their monthly deposits suggest.
Social Security income is also grossed up in most programs because it is not subject to federal income tax for many recipients. Pension and annuity income count in full at face value.
If you are already drawing distributions, those count directly. If you are not yet required to, some lenders will still credit a portion of your balance as qualifying income under the depletion method.
Not every lender offers retirement income programs. By shopping our whole lender network, we identify the lender whose guidelines fit your specific income mix and asset profile.
Planning a lake home or a winter property somewhere warm? Second home financing is available alongside or separate from your primary residence purchase.
Selling a larger home and buying smaller? We coordinate your purchase timeline with your existing sale, help you apply equity proceeds to the new down payment, and keep the process clean on both sides.
Some retirees stay close to family and downsize. Others split the year between two homes or move somewhere warmer for good. Clear2 is licensed in 22 states, so we can finance the move wherever it takes you.
There is no single "retiree loan." The right program depends on your income mix, asset base, property type, and goals. Clear2 matches you to the lender whose guidelines fit your profile.
Use your retirement savings, brokerage accounts, or IRA balance as the income basis for qualification. No distributions required in many programs.
Fannie Mae and Freddie Mac both have guidelines allowing Social Security, pension, and IRA distribution income for conventional loan qualification.
Access equity from your current home for home improvements, living expenses, or supplemental retirement income without selling.
Financing for lake homes, cabins, or winter properties, structured alongside your primary residence.
Eligible veterans qualify for $0 down VA financing with no private mortgage insurance, even on a fixed retirement income.
Clear2 does not originate HECMs (reverse mortgages), but we connect you with licensed specialists when a reverse mortgage is the right fit for your situation.
You are selling the four-bedroom family home and buying a two-bedroom condo a few miles away. The equity from your sale covers most or all of the down payment, and your pension plus Social Security income qualifies you comfortably. Clear2 coordinates the simultaneous close so you are not carrying two properties or scrambling to bridge the gap.
You are keeping your home up north and buying a winter property in Florida or Arizona. Second home financing requires a different underwriting path than a primary purchase. Clear2 structures your retirement income and assets to qualify for both properties without overextending either transaction.
Your monthly Social Security and pension income would not satisfy a traditional bank's debt-to-income test, but you have $800,000 in IRA and brokerage accounts. Asset depletion underwriting converts that balance into qualifying income, opening programs that your monthly cash flow alone would not reach.
Clear2 Mortgage is an independent broker licensed in 22 states, with our office in Troy, Michigan. We are not a call center. You work with the same loan officer from application to closing, with no handoffs or hold music.
As an independent broker, Clear2 is not tied to one lender's product line or rate sheet. We shop 50+ lenders to find the program that fits your retirement income, your assets, and your goals.
Whether you are downsizing, buying a second home, or accessing equity, our team will walk you through your options clearly and without pressure.
Lewis Barbat is a Director of Sales at Clear2 Mortgage with deep experience helping retirees and near-retirees sort out income documentation, asset-based qualifying, and second home financing. He brings a straightforward approach to complex scenarios and is reachable directly at the number below.
Five-star reviews from Clear2 clients on Google.
"Donavin was straightforward and a breeze to work with. Communication was quick and easy. The whole process was seamless and he was available for guidance or questions. I would not hesitate to use Clear2 Mortgage in the future."
"Alex was absolutely amazing from the beginning. He was patient and thorough with all of our questions. He even followed up after the process was finalized to ensure everything was still good. I would recommend him to everyone!"
"The process was seamless and every question I had as a first-time home buyer was answered. My loan officer gave me his professional opinion based on my specific circumstances to personalize my loan."
Buying in a specific state?
Can I qualify for a mortgage on Social Security and pension income alone?
Yes, in many cases. Social Security and pension income are both fully countable forms of qualifying income under conventional, FHA, and VA guidelines. If your monthly income is lower than a bank wants to see, asset depletion programs can supplement it using your retirement account balances.
What is asset depletion and how does it work?
Asset depletion is a method lenders use to convert your retirement savings into a qualifying income figure. Eligible assets, including IRAs, 401Ks, and brokerage accounts, are divided by the loan term to produce a monthly income equivalent. The lender then counts that figure alongside any other income you receive.
Do I need to be receiving IRA distributions to use them for qualifying?
Not always. Some programs allow the asset depletion method even if you are not currently drawing distributions. If you are already taking distributions, those count as direct income. Clear2 can identify which lenders in our network have the most favorable guidelines for your specific situation.
Can I buy a second home or vacation property while still having a primary mortgage?
Yes. Second home financing is available as a separate transaction from your primary residence. Lenders evaluate both properties and both loans together, so Clear2 structures the transaction to ensure the combined debt load qualifies under your retirement income and asset profile.
Does Clear2 offer reverse mortgages?
Clear2 does not originate Home Equity Conversion Mortgages (HECMs). If a reverse mortgage is the best fit for your situation, we can connect you with a licensed HECM specialist. For all other equity access needs, including cash-out refinances and second home financing, Clear2 handles the full transaction.
What is the process for buying a new home while selling my current one?
Clear2 coordinates both sides of a simultaneous close. We get you pre-approved based on your retirement income and assets, structure the timeline around your sale, and apply your equity proceeds to the down payment. If the timing is tight, bridge loan options may be available depending on your equity position and lender guidelines.
No obligation, no hard credit pull. A Clear2 loan officer will review your retirement income, assets, and goals and give you a clear picture of what you qualify for.
Clear2 Mortgage | NMLS #1911663 | 2600 W Big Beaver Rd, Suite 100, Troy, MI 48084 | (248) 970-0040 | Equal Housing Lender. This is not a commitment to lend. Loan approval is subject to credit approval, income verification, and property eligibility. Rates, terms, loan programs, and availability are subject to change without notice. Asset depletion calculations and retirement income guidelines vary by lender and loan program. All loan products are not available in all states or areas. This material is for informational purposes only.
