Zillow Advice: Investing - Buying 2nd home for eventual retirement http://www.zillow.com/advice-thread/Buying-2nd-home-for-eventual-retirement/535054/ Zillow Advice | Zillow Real Estate You would most likely need ... http://www.zillow.com/advice-thread/Buying-2nd-home-for-eventual-retirement/535054/ You would most likely need to contact more than one professional to help you with this. When it comes to the tax side you should find a CPA. When it comes to a mortgage there are lenders that can certainly help you with this situation. There are different mortgage routes that you can take to achieve your goal. The options can depend on your finances and personal preference. Either way, it seems that you have a good plan so far for your retirement. The next step would be to speak with some professionals. So the best thing for you to do is to speak with a knowledgeable lender to see if you can get started on financing a new home.&nbsp;If you need additional assistance, feel free to reach out. Good luck! Fri, 04 Apr 2014 19:39:00 GMT http://www.zillow.com/advice-thread/Buying-2nd-home-for-eventual-retirement/535054/ 2014-04-04T19:39:00Z There are many different ... http://www.zillow.com/advice-thread/Buying-2nd-home-for-eventual-retirement/535054/ There are many different ways to do this. Of course, the tax question is for your CPA, but the mortgage side of this is simpler.<br/><br/>You get better terms doing the transaction as a second home, with a lower rate and lower down payment choices available.<br/><br/>How much are you planning for the down payment? I would recommend the transaction as a second home and use it as such, since your current residence is free and clear so renting it would be a positive cash flow.<br/><br/>Good luck with the move!<br/> Thu, 03 Apr 2014 23:42:00 GMT http://www.zillow.com/advice-thread/Buying-2nd-home-for-eventual-retirement/535054/ 2014-04-03T23:42:00Z With prices still relatively ... http://www.zillow.com/advice-thread/Buying-2nd-home-for-eventual-retirement/535054/ With prices still relatively low, you are wise to be thinking ahead. &nbsp;With no loan on your primary, you should have no problems getting financed on your second home. &nbsp;You can check with your bank to see if they have any special loan products for account holders. &nbsp;There are many good mortgage brokers in our area.<br/><br/>There are many good CPAs in the Memphis area who will be able to help you take advantage of you mortgage interest deduction and other deductions you will have as a "rental property owner".<br/><br/>Best of luck to you! &nbsp;Good for you for planning for the future! Thu, 03 Apr 2014 23:37:00 GMT http://www.zillow.com/advice-thread/Buying-2nd-home-for-eventual-retirement/535054/ 2014-04-03T23:37:00Z I think that what you are ... http://www.zillow.com/advice-thread/Buying-2nd-home-for-eventual-retirement/535054/ I think that what you are doing is a smart financial decision and as a lender I would love to assist you with thr transaction and can definately recommend a real estate agent if you do not already have one that you are working with. I get the assumption that you are very close to retirement (Next 5-10 years). I would love to discuss further with you and get you in the position to be ready to purchase when you and you're family find a home that fits your retirement needs.<br/><br/>Best of luck and congrats on the soon to be retirement. Thu, 03 Apr 2014 23:23:00 GMT http://www.zillow.com/advice-thread/Buying-2nd-home-for-eventual-retirement/535054/ 2014-04-03T23:23:00Z