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Personal Finances / Buying or Selling a Home


Subject:  Re: Mortgage Date:  8/9/2019  10:15 AM
Author:  Rayvt Number:  129244 of 129287

Well 3.125% would have been fabulous, but not what we got. The rate was 3.625%.

Whew!! Guess I mis-read your original post.

Alas, even that isn't my refi target rate. My target is 3.5%, so it looks like I'm stuck at 4.0% for a while longer.

Rather than messing around with things like "Asset Depletion mortgage", a loan processor told me long ago that if you have a steady monthly withdrawal from an IRA they look at that like it was a paycheck. So a couple months before you intend to apply, give your broker instructions to withdraw a certain amount and send it to you monthly. That fits in with your RMD, if you are subject to RMD. Since you have to withdraw the money anyway, might as well do so in a way that the mortgage lenders like to see.
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