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Retirement/mortgage approval

My husband has been a federal employee for the last 25 yrs and he will be retiring at the end of Sept.  We will be moving from the state we are currently assigned to, to his home state and after 10 years of renting we are ready to buy a home again.  As retirees will we have a problem getting a mortgage?  Will we be required to wait 2 years in order to prove stable income or will a couple of months of bank statements showing our retirement payments be sufficient?
  • July 05 2013 - US
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Answers (2)

As long as you have the applicable awards/benefit letters documenting the income amount and start date, you will be good. You should be able to obtain a pre-qualification subject to this information to ensure you are ready to go once your ready to move.
  • July 05 2013
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You should not have a problem with a mortgage as long as your credit scores and debt ratio's  can support the mortgage.  Get a copy of your social security award letter for the lender.
  • July 05 2013
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