Finance

Jun 21 2018

Mortgage giants make it easier for retirees to secure loans – The Washington Post

#realestatepage, #mortgage #standards, #retirement #income, #freddie #mac, #fannie #mae, #refinancing, #social #security # Mortgage giants make it easier for retirees to secure loans Here’s a heads-up for the growing ranks of seniors whose post-retirement monthly incomes aren’t sufficient to qualify for a mortgage under today’s tough underwriting standards: Thanks to a rule change by the largest players in the home loan business, you may be able to use imputed income from your 401(k), IRA and other retirement assets to qualify for the loan you want . That, in turn, might open the door to a money-saving refinancing to a lower-rate …