Tag Archives: New Rules May Ease Mortgage Process for Retirees

Many retirees have been struggling to qualify for a mortgage, finding their post-retirement monthly incomes aren’t sufficient enough to get a loan under today’s tough underwriting standards. The problem was particularly pronounced for retirees who were still making payments on car loans, credit cards, or home equity lines of credit and who found they were unable to qualify under today’s low “debt-to-income” standards. But mortgage giant Freddie Mac is now allowing retirees—and others—to use income from their 401(k), Augusta IRA, and other retirement assets to qualify for a loan. “That, […]