jimandthom
Recycles dryer sheets
Have read concerns in this thread and elsewhere, about how hard it can be to get a mortgage when you retire.
I only worked part-time the final 5 months of work, spouse was retired for 5 years. We got a 20 year at 3.125% from the local CU up here. Had to join before we could start the process. Is it really that hard to get when retired?
I can understand not wanting to have a mortgage. We do intend to pay off after about 12- 15 years. An small RMD from an inherited IRA goes into a taxable account for that purpose.
When we are done with ours, there will still be taxes and insurance which is almost 1/2 of our total payment. No mortgage will really be a modest blip in the overall scheme of things.
I only worked part-time the final 5 months of work, spouse was retired for 5 years. We got a 20 year at 3.125% from the local CU up here. Had to join before we could start the process. Is it really that hard to get when retired?
I can understand not wanting to have a mortgage. We do intend to pay off after about 12- 15 years. An small RMD from an inherited IRA goes into a taxable account for that purpose.
When we are done with ours, there will still be taxes and insurance which is almost 1/2 of our total payment. No mortgage will really be a modest blip in the overall scheme of things.