Retired & Buying a Home? If you are transitioning into retirement with your 401(k)/IRA, you may be wondering how a lender considers that asset as income to qualify for a home loan. To use your retirement account as income, you need to set up a distribution from your account(s) that is paid monthly. The lender will then use that income as your monthly income. When you retire, you may receive several types of income. Let’s talk, and I’ll help you figure out how the lender will approach your individual situation!

Retired & Buying a Home? If you are transitioning into retirement with your 401(k)/IRA, you may be wondering how a lender considers that asset as income to qualify for a home loan. To use your retirement account as income, you need to set up a distribution from your account(s) that is paid monthly. The lender will then use that income as your monthly income. When you retire, you may receive several types of income. Let’s talk, and I’ll help you figure out how the lender will approach your individual situation!

ByBrandon Butler

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Hey! That’s On My Property! Can you finance a home when your neighbor’s fence, shed, or other structure is partially on the property you want to purchase? The technical term for that is “encroachment.” When a survey or appraisal is completed, and it shows a structure on your neighbor’s property encroaching onto your property, it can sometimes cause an issue. The key is determining the severity of the encroachment and understanding the allowances that lenders will make. Questions? Let’s Talk!
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Hey! That’s On My Property! Can you finance a home when your neighbor’s fence, shed, or other structure is partially on the property you want to purchase? The technical term for that is “encroachment.” When a survey or appraisal is completed, and it shows a structure on your neighbor’s property encroaching onto your property, it can sometimes cause an issue. The key is determining the severity of the encroachment and understanding the allowances that lenders will make. Questions? Let’s Talk!

ByBrandon Butler

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When buying a home, will time spent in college or trade school be considered part of my work history? Yes, most programs available to finance your new home consider the time spent pursuing additional education for your field of work. Lenders typically seek at least a 2-year work history [including education], but there may be exceptions to that as well. Additionally, there are variances in the guidelines as to how they apply to your situation, so it’s important to talk to your lender first!
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When buying a home, will time spent in college or trade school be considered part of my work history? Yes, most programs available to finance your new home consider the time spent pursuing additional education for your field of work. Lenders typically seek at least a 2-year work history [including education], but there may be exceptions to that as well. Additionally, there are variances in the guidelines as to how they apply to your situation, so it’s important to talk to your lender first!

ByBrandon Butler

A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.