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If you're planning to retire, you might have some trouble qualifying for a mortgage. Here's what lenders can — and can't — consider when approving you for a home loan.
How to qualify for a mortgage in retirement. When seniors apply for a mortgage, lenders look at the same financial criteria as they do for any other borrower, ...
Loan type. Minimum credit score. Conventional loans. 620. FHA loans. 580 with 3.5% down payment, 500 with 10% down payment. VA loans. No minimum requirement, but generally 620
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Retirement income: Income from retirement accounts (like a 401(k), IRA, 403(b), etc.) and pension income. ... FAQ about income and mortgage qualification.
Can I qualify for a mortgage if I'm about to retire? Buying a new home in retirement: Pros, cons and weighing your options ... Best jobs for seniors, retirees and mature workers: 10 second-act ...
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