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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.
Many older Americans also have mortgages at very low rates. In fact, more than half of all outstanding mortgages in the U.S. have rates below 4%, according to Redfin analysis. This is a fantasy ...
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DTI = Monthly debt payments (including mortgage or rent) / monthly gross income x 100. Some lenders allow a DTI ratio as high as 50 percent, but most prefer to see you spend less than 45 percent ...
Paul, 62, is like a lot of people near retirement: He wants a safe place to invest his money. But the interest rates on savings accounts barely keep up with inflation. Would it make sense to pay ...
They’ll show you prequalified refinancing rates from up to 10 lenders and make it easy to pick out the best option. Robert Kiyosaki warns: ‘Cash is trash’ — Discover the power of ...
Instead, retire any higher-rate debt you have, such as credit card balances and auto loans. Then, devote excess cash flow to building up your emergency savings and funding your tax-advantaged ...
After purchasing your forever home and feeling confident in your career, you may wonder whether it would be worthwhile to put your extra income toward retirement or use it to pay off your...