Tag Archives: Retirees Struggle to Qualify for Mortgages

Retirees’ decreased monthly incomes may make it more difficult for them to meet the stricter underwriting standards that lenders have in place in order to qualify for a mortgage, according to an article in The Washington Post. Whether refinancing their current mortgage or applying for a new loan to purchase a home for the golden years, more retirees are saying they are increasingly facing roadblocks when it comes to applying for a mortgage. One 68-year-old home owner, with a net worth in the seven-figure range and an 826 credit score, said […]