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Need a little extra income to qualify for a mortgage and over 59 1/2 years old
Manage episode 397606694 series 2979320
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If you are over 59 1/2 and have a retirement account, you can use monthly distributions to qualify for a mortgage. You must have 36 months of payments in order to use the income. If you need 500 a month and if you calculate out 36 months that is 18,000 in your retirement account and you have that or more then you can use that as income. It's a great way to help give you the added income to get the mortgage you are looking for.
Maybe the pension, social security, or salary is not getting you there. Thinking outside of the box and using the assets you have to help qualify you for more house
tune in and learn more at https://www.ddamortgage.com/blog
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