Business
Considering a home purchase in retirement? Here’s how to get a mortgage – CNBC
Qualifying for a mortgage in retirement — when you’ve left a paycheck behind — is tricky, but with some planning it might be possible.
If you’re retired and are thinking about downsizing or relocating, and it involves buying a home, you might want to look into how you would finance it.
You may discover that qualifying for a mortgage is different from the last time you bought a house. Not only have lenders tightened credit during the coronavirus pandemic, retirees generally have left a steady paycheck behind.
It can be tricky for retirees to get a mortgage, said Al Bingham, a mortgage loan officer with Momentum Loans in Sandy,…
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