The kicker here is that I've never tried to buy a house without a job before and I've no idea what the criteria is for a retiree.The criteria is not much different from those who are still working.Lenders still look at the value of the home to be purchased, the real income of the borrower and hence his ability to repay the loan.The same basic ratios apply..We purchased a home at the time we retired and now 6 yrs later, have borrowed to build a new home by staying within accepted guidelines.I believe most advisors would suggest you not pay cash since it ties up a lot of capital that could be better managed in more liquid assets.Borrowing on margin accounts may be risky but I am no expert.Make sure you know what your expenses will be. Most expect budgets to drop in retirement but, this is not usually the case and expected resources can dry up in a hurry.H.
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