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Old 07-16-2007, 09:16 AM
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Default How can I qualify for a mortgage when I retire if...

...my only sources of income are my savings + Social Security? I plan on retiring in a couple of years and then relocating. I will not be working after I retire. Since most mortgage qualifying information revolves around one's employment income, is it possible to qualify for a mortgage based only on my savings and payments from Social Security?
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Old 07-16-2007, 09:18 AM
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It doesn't matter that you can make the monthly payments,when you haven't enough time left in your life expectancy to pay the full amount back! The shortest mortgage is for 15 years and they don't offer them to retired people!
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