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HELOC for Retirees: Qualify With Assets, Not a Paycheck
Retirement changes how lenders see you. The paycheck stops, but your expenses don’t. Many retirees are house-rich and cash-flow-cautious, sitting on hundreds of thousands in home equity while watching their monthly budget. A HELOC for retirees can unlock that equity without selling the home or going back to work. The key: you can qualify using
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HELOC for Self-Employed Borrowers
If you’re self-employed, you already know the drill. Getting a loan is harder for you than for someone with a W-2 job. Lenders want years of tax returns. They count your business write-offs against you. Plenty of self-employed people get turned down even when they make great money and have plenty of equity. A HELOC
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Can You Use a 401(k) to Qualify for a Mortgage? How Asset Depletion Loans Work
Yes — you can use a 401(k) to qualify for a mortgage. The loan program that does it is called an asset depletion loan. The lender adds up your retirement account, applies a 30% haircut to cover early-withdrawal penalties and taxes, subtracts what you need for down payment and reserves, then divides what’s left by
