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retired and wanting to buy again.

Me and my wife sold our home of 35 years and our renting an apartment now and not crazy about it.I am retired and 65 years old,I get social security and a pension and and the wife is 64 and works full time.Both are credit scores are in the 800 bracket,do they take account for my social security and pension when giving us a loan,and considuring our age does that make a differents?
  • February 08 2014 - Channahon
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Answers (6)

Yes, social security and your pension would be considered as income when a lender looks at your finances. Also, your age should not cause any problems. It is illegal for a lender to discriminate due to age. The best thing for you to do is to speak with a lender such as myself to see if you can get started on financing a new home. If you have any further questions or if you would like a loan, feel free to contact me.

Good Luck!
  • February 12 2014
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Yes, you would be a perfect candidate for a loan! Your income and debt to income ratio will definitely play a factor into the amount you are qualified for but your age makes no difference to your loan.
  • February 11 2014
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It sounds like you are a great candidate for a loan! You have outstanding credit and your income can be used to qualify. The lender of your choice would have to look in more detail at your income, assets, liabilities and creditworthiness to determine if you qualify. Feel free to contact me with any additional questions or to apply!

Ashley
  • February 10 2014
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Profile picture for Andrew Malak
You are a perfect buyer!!! yiu can use any income you file on taxes. Good luck with your search. If you need a good referral, please let me know.
  • February 08 2014
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Your age will have no bearing on the credit decision and we can certainly use your SSA and pension income to qualify! Feel free to contact me via my profile here and I would be happy to answer any questions you may have and even run the numbers for you to see what you can be pre-approved for and what the rate and payment would be. Thanks!
  • February 08 2014
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You can use all income streams, you will have no problem. Go ahead and apply.
  • February 08 2014
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