I just retired have 744 score I get 1st pension check in feb can i get mortgage now?

I have 25 % down
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December 05 2013 - US
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Answers (2)

Well your pension can be considered as income by lenders. So it will then be analyzed along with your debt to determine whether you can financially support a mortgage. Also your credit score and down payment is good which will open more options to you. The best thing for you to do is to speak with a lender directly to see if you can get started on financing a new home with your situation. There are lenders like myself that would be glad to speak with you to help you get the loan that you need. Well I hope this helps! If you have any further questions or if you would like a loan, feel free to contact me.

Good Luck!
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December 06 2013

You will be eligible for a mortgage and loan amount will depend on the monthly pension amount, and monthly debt payments. With 25% down, a conventional 30,20, or 15 year loan program would be options. This would be time to get pre approved so you can buy and close on a property in Feb/Mar. Go to Find a Pro tab above and locate a few lenders in your area/state. Talk to a few and select one to go forward based on reviewing Profile, Reviews, and your confidence and comfort level. There is no cost and can be done in an hour or less.

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December 05 2013
 
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