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Subject:  Re: financing Date:  5/13/2003  7:31 PM
Author:  iamdb Number:  8439 of 20640

Mark wrote, "I've never tried to buy a house without a job before and I've no idea what the criteria is for a retiree."

We've financed and refinanced houses since retiring. I think the lending institutions are concerned about apparent ability to repay the loan. If, as a retiree, you have adequate and reasonably stable income, especially if some of that income is from social security and/or a pension, you might be viewed by a lending institution as a safer bet than an applicant that relies on employment that could be terminated.

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