How to Buy a Home After Retirement
So, you've retired, but you still want to buy a home.
You've worked for the last 30 years, you've created great wealth, you've got a good savings account, maybe an IRA, maybe a 401k, and you've got great credit but very little income coming in. How can you qualify to make a home purchase?
This is something that comes up very frequently here in our resort area because we see a lot of people who are at a point in their life where they would like to buy another home but they're no longer working.
The good news is that there is a way that you can work with your lender as well as your financial advisor to create a distribution schedule off of something like an IRA.
Essentially, what would be done is they would work out a schedule to take and access some of your retirement money on a regular, consistent basis which now provides income, so you can qualify for that purchase.
This is very common, and it's something that Ryan would be happy to educate you on a little bit more and connect you with the right people to make this work for you.