Can I get a mortgage if I am retired?

Yes, you can get a mortgage in Pennsylvania if you are retired. As long as you meet all the criteria for a mortgage loan, you may qualify for a mortgage even if you are retired. Generally, you will need to have a steady income, good credit, and a down payment to be able to secure a mortgage loan. Your income will need to be enough to cover the payments of the mortgage loan. This may be a combination of Social Security, pension, retirement savings, or other investments. The lender will also want to ensure you can make your mortgage payments in the future. The lender will also check your credit history and credit score. Usually a higher credit score and a good credit history will help you get a mortgage loan even if you are retired. Finally, you will need to be able to make a down payment. A down payment is a percentage of the purchase price of the home and it may be anywhere from 3-20%. The lender may require you to have a certain amount of money saved in order to qualify for the loan. In summary, you can get a mortgage loan in Pennsylvania if you are retired, as long as you can demonstrate that you have a steady income, good credit, and some money saved for a down payment.

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