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I'm retired, and have ~70% of my substantial income coming from solid investments in Roth IRAs -- wh

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September 07 2013 - Oconomowoc Lake
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I can only guess what the question is but I think you want to know if you can use IRA income to qualify for a mortgage. The answer is yes as long as you can have your financial advisor write a letter detailing what your withdrawals will be and that there is enough money in your IRA to support these withdrawals for 3 years. Depending on how long these withdrawals have been taking place, the underwriter might also ask for 1099's and you can bet they will ask to see the most recent quarterly IRA statement. I hope that answers what you are asking. If not, feel free to contact me for more information.
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November 18 2013
You can certainly refinance and I advice you do it before interest rates go up again. Before you make any financial decision on your IRA or mortgage rates, be sure to consult a Financial Planner and most financial planners have a good source for a trusted mortgage provider.
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September 10 2013
You can likely refinance and get many benefits in addition to a low fixed rate. Because of home value improvement nationwide, you may be able to get access to cash to improve the home or payoff debts. You will increase your tax benefits by doing so. You will get to skip a payment after closing and your payment will be lower.  [Phone removed by Zillow moderator. Please see our Good Neighbor Policy.]
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September 10 2013
You can hit Post Reply and finish your question.

If you are asking about financing using your IRA's as income to qualify, you can use your assets as income. I would be happy to help.

Feel free to contact me on my profile.

All The Best!

Elias,
I am sure the poster already knows, but to advise a retiree on a fixed income to cash out the assets they use for 70% of their income so they can invest long term in real estate is very reckless.
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September 08 2013
With the real estate market on the rise I would advised that you diversify some of your funds and invest in real estate.  History has proven that over all real estate beats the Dow,S&P and NASDAQ.
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September 08 2013
 
Related Questions
I'm retired, and have ~70% of my substantial income coming from solid investments in Roth IRAs -- wh
Profile picture for Adel Manuel
Latest answer by Adel Manuel
November 18 2013 | 5 answers
  • Asked by user9210218
  • In Refinance
  • September 07 2013
Mortgage Rates
 
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