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unemployed retiree needs income for mortgage

i own a paid off home. my income is social security and ira withdrawals. i have no debt. a lender approved me for $150,000 mortgage with 25% down. i need a lender that will take my iras and retirement funds into account when calculating income. can you recommend one?
By san_benedict738 from IN May 22nd 2014
Reply

Absolutely! Give me a call - 317/450-8394. I would love to discuss this with you at your convenience. We work with all kinds of income - fixed income is no problem.I'm looking forward to speaking with you and assisting with your purchase.Sincerely,Joel AsburyWinterwood Mortgage Group, LLCNMLS ID 383616

May 22nd 2014

We can do this program. It is called Annuitization of Assets. Feel free to contact me at Christopher.jones@guaranteedrate.com or via email 312-505-9949 if you would like to discuss.Chris JonesVP of Mortgage LendingGuaranteed RateNMLS 130813

May 22nd 2014

I can use your IRA in your income calculation. 20 years experience. Eddie Sexton 502-753-1340. Fan of St. Benedict too.

May 22nd 2014

Most lenders should be able to use the IRA withdrawal income if you can show a history of at least 12 months and enough funds to last for at least 3 more years. Guidelines will vary, but that's a good baseline.

May 23rd 2014

We can utilize your social security and IRA withdrawls for income. Let's discuss your loan scenario in more detail. Contact me at 800 315 8803. My name is Jamie and I have been in the mortgage business since 1989. I am happy to answer your mortgage questions, 7 days a week and review your loan scenario. Until then, I look forward to hearing from you. Jamie Lynne - www.bartprequalifies.com - email Jamie@bartprequalifies.com - 800 315 8803

May 23rd 2014

If you're over the age of 62 then there is another alternative for you. HECM for purchase might be a better option for you so that you can maintain a higher monthly cash flow to enjoy your retirement. Want to know more? Contact me. 219-662-0166 x21. Have a great holiday weekend.

May 23rd 2014

Have you considered a reverse? Most people don't realize that a reverse can be used for a purchase. Guidelines allow scheduled withdraws from retirement funds to be counted as income as long and there is a continuance of said withdraws, so your issue isn't as much of it being allowed by the different loan programs, it is finding a Loan Officer that understands how to do it. I'd check with your REALTOR to find an experienced loan officer than has access to ALL loan products.

May 25th 2014

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