Retired? Can you Qualify for a Mortgage?

Many potential buyers that are retired wonder if they would qualify for a mortgage. Well the good news is yes, you can still qualify for a mortgage loan even if you are retired. Thanks to the Fair Housing Act of 1968, no matter how old you are, your age will not be a factor in your mortgage loan approval.

Mortgage lenders will look at your retirement income to determine whether you will be approved for a loan or not. You will just need to provide them with proof of continuance for at least three years. And if you get pension, you will need a letter from your pension administrator state that your pension will be guaranteed for life or for the amount of time you have the loan for.

As someone who is retired, you have a slight advantage over full-time workers. So, now comes the question, “where should I retire”?

In 2006, was voted best place to retire by Money Magazine. And it’s still a wonderful place to retire today. Amarillo is located right in the center of the Texas Panhandle. Amarillo offers all the conveniences of the big city with the feel of a small town. You will even find that Amarillo real estate has many historic homes to choose from as well as new home construction.

If you’re looking for cities around Amarillo, TX to retire, you can check into the City of Canyon. Named after the Palo Duro Canyon, it’s a small town located just 16 miles south of Amarillo. There are many parks and community events for the whole family. Canyon, TX also has one of the lowest crime rates in the state, making it a great place to raise your family.

The Village of Angel Fire, NM is also close to Amarillo. It’s a popular ski resort town nestled in the beautiful Sangre De Cristo Mountains in northern New Mexico. No matter what your outdoor passion, you can fulfill it in Angel Fire. Ski and snowboard in the winter, bike and hike during the summer. If you like outdoor adventures, Angel Fire, NM is the community for you.

This retirement information is brought to you by: Tom Kile – your real estate resource for Amarillo, TX and surrounding communities.

Originally posted at:  http://allamarillohomes.info/retired-can-you-qualify-for-a-mortgage/