Main Content

Retired and Purchasing a Home in the Desert?

Retired and Purchasing a Home in the Desert?  Beautiful scenery from a patio in Andaluscia in La Quinta Ca

Retired and Purchasing a Home in the Desert? Did you know that there are several solutions for borrowing money for a mortgage, even if you are retired? Our preferred lender, Dean Rathbun with United American Mortgage, works in this arena often so I checked with him how he does it:

Dean Rathbun is able to use income from many various retirement tools. For instance, lenders can use pensions, social security income, annuities and monthly distributions from IRA/Retirement accounts. There is also a way they can use an “asset depletion” calculation when a borrower has substantial assets.

Another great option many people forget about is a Reverse Mortgage. If you are over 59 ½ a reverse mortgage may be right for you. There is no monthly mortgage payment required on one of those loans, but you are actually allowed to make a monthly payment if you want.

All these are a great way to have flexibility when Retired and purchasing a home in the Desert.

10 Get In Touch

Contact Us

Call Mary at 760.567.7282 or fill out the form below

Keep up to date with the latest market trends and opportunities in La Quinta, Caliifornia

    Skip to content