Real Estate

How to finance your next home purchase if you’re retired


nd3000 | iStock | Getty Images

Retirees who are considering a move that involves buying a home may want to consider how they’d finance the purchase.

It can be tricky for seniors to get a mortgage in retirement, said Al Bingham, a mortgage loan officer with Momentum Loans in Sandy, Utah. Not only are lenders still more cautious about extending credit during the pandemic, retirees generally have left a steady paycheck behind.

“You can have a lot of money but show very little income and have difficulty qualifying for a mortgage,” Bingham said. “It frustrates a lot of them.”

More from The New Road to Retirement:

Here’s a look at more retirement news.

And although interest rates are still very low,…


Mercedes-Benz unveils new flagship EQS electric sedan to take on Tesla

Previous article

PepsiCo (PEP) Q1 2021 earnings beat

Next article

You may also like

Leave a Reply

Notify of

More in Real Estate