• Question
  • Buying a home on retirement income

    Asked on 11/8/2008

    I am about to retire and will need to buy my first home. I need advice on getting help in how to purchase a home. I am a state employee and was provided free housing as part of my job. Now I will have to move out soon and want to know if thier is federal funding for retired worker. Thanks for your help.

  •  
  • Categories: Best Places to Retire, Housing

Answers

  • NewRetirement User

    Get a FREE phone consultation
    with an advisor. Learn more...
  • Good news starting in January 2008.

    Reverse Mortgages may now be used to purchase a home. No credit or income requirements. Depending on your age, youll probably need about 30-40% down.

    Good luck with your purchase.

    Tamera Field
    Golden Gateway Financial
    A preferred lender with New Retirement.com
    goldengateway.com
    877-632-7890

  • Login to rate this answer:   Answered on 11/9/2008
  • NewRetirement User

    Get a FREE phone consultation
    with an advisor. Learn more...
  • The Federal government finances the majority of aging programs. Federal appropriation’s process that provides funding for all federal programs including for retired persons. Do you have your own savings before you retired? If so you can support yourself buying a home..

    www.retiredebtfreeandhappy.com - Retirement Plans, Retirement Calculator, Retirement Planning, Early Retirement Planning, Retirement Savings, Retirement Investments, Financial Planning for Retirement, Retirement income, Retirement Funds

  • Login to rate this answer:   Answered on 11/14/2008
**All above answers are provided as general information only. No warranty is made regarding the fitness or accuracy of the information provided in this answer. You should seek advice from a licensed CPA, attorney or CERTIFIED FINANCIAL PLANNER™ as to your unique financial situation.