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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.
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Carrying heavy debt into retirement is a problem. Whether it’s credit card debt, a mortgage, or student loans, debt drains your retirement savings and increases stress during what should be a ...
For example, if your pre-tax monthly income is $8,000 and your mortgage payment is $2,000, you have a front-end ratio of 25% (meaning that your mortgage consumes 25% of your income).
Only 20% of Americans are confident they'll have a comfortable retirement — use this 1 magic move to get back on track ASAP (It will only take seconds but most people don't do it.)
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Even if you’re a healthy person retiring at age 65, you can still expect to pay $128,000 to $147,000 in healthcare costs over your remaining lifespan.
Image source: Getty Images. If you're planning your retirement party for 2025, take some time to review the following five things to ensure you won't be caught off guard by the financial transition.