Siestatime
Recycles dryer sheets
- Joined
- Jan 1, 2013
- Messages
- 63
Our home up north has less than $20k mortgage left. Market value of approx $300,000. I'm planning on FIREing before the end of 2015. We want to get a second home in Florida, at least to snowbird for the next few winters. After that, may rent/sell the home up north. We will very likely get a mortgage to buy the house/condo in Fla.
My salary is in the very, very low six figures and I'm sure I'd qualify for a mortgage. I could take a HELOC to fund the new place as well.
Question: besides the obvious improved qualification (based on salary) to get a mortgage, what are the pros and cons of buying real estate before or after retirement? Has anyone gone through a mortgage process while in retirement?
PS: BiggerPockets has a lot of real estate info, but the wisdom from this forum seems more appropriate and valuable to me
My salary is in the very, very low six figures and I'm sure I'd qualify for a mortgage. I could take a HELOC to fund the new place as well.
Question: besides the obvious improved qualification (based on salary) to get a mortgage, what are the pros and cons of buying real estate before or after retirement? Has anyone gone through a mortgage process while in retirement?
PS: BiggerPockets has a lot of real estate info, but the wisdom from this forum seems more appropriate and valuable to me