Retirement income is real income. Social Security, pensions, IRA distributions, and investment income all qualify — you have more options than you may think.
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Age cannot legally be used to deny a mortgage under the Equal Credit Opportunity Act. What lenders look at is income, assets, credit, and the property — and for retirees, there are multiple ways to document each of these.
The challenge isn't eligibility — it's knowing which loan program fits your specific income mix. A retiree drawing from Social Security plus a pension qualifies differently than one living off investment distributions. We match you to the right program.
Speak With a Retirement Mortgage SpecialistOne free call. We review your income sources, assets, and goals — and tell you exactly which programs are realistic for your situation.
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The right option depends on your age, home equity, income sources, and goals. Here are the programs we work with most for retired Florida borrowers.
If your retirement income — Social Security, pension, distributions — meets standard debt-to-income requirements, a conventional loan is straightforward. Many retirees qualify on standard guidelines with no special program needed.
All ages · Standard incomeHave significant retirement savings but limited monthly income? Asset depletion converts your investment portfolio into qualifying income by dividing eligible assets over the loan term. Helps asset-rich, income-moderate retirees qualify.
Asset-rich borrowersFor homeowners 62 and older with significant equity. Eliminate your monthly mortgage payment, access tax-free funds, or set up a growing line of credit — while remaining in your home. HUD counseling required. FHA-insured.
Age 62+ · Equity-richBuy a new Florida home using a reverse mortgage — with no required monthly mortgage payment. Combine a down payment with H4P loan proceeds to purchase a new primary residence. One closing transaction.
Age 62+ · Buying a homeAccess equity in your current home for retirement expenses, home improvements, or supplemental income. Requires qualifying income and credit. Generally available to retirees who can document sufficient retirement income.
Existing homeownersPurchasing a Florida second home or vacation property? We work with retirees buying seasonal Florida residences. Second home mortgage guidelines differ from investment property — we'll clarify which applies to your situation.
Second home buyersEach income source has specific documentation requirements. This is an overview — your actual qualification depends on the loan program and your specific situation.
| Income Source | Typical Documentation |
|---|---|
| Social Security | SSA award letter or benefits verification letter showing monthly amount |
| Pension / Annuity | Award letter plus recent statements showing consistent distributions |
| IRA / 401(k) Distributions | Recent account statements; consistent distributions over 2+ years typically required |
| Investment / Dividend Income | Two years of tax returns showing consistent investment income |
| Rental Income | Lease agreements and two years of tax returns (Schedule E) |
| Asset Depletion | Recent statements for eligible accounts; calculation applied per program guidelines |
Income documentation requirements vary by loan program and lender. The above is a general guide only. Not a commitment to lend. All loans subject to credit approval, income verification, and property appraisal.
A HECM reverse mortgage may let you eliminate your monthly payment, access equity tax-free, or buy a new home without monthly payments. Learn how it works in Florida.
Explore HECM Options →Free consultation. We review your income, assets, and goals — and tell you exactly which programs fit. No pressure, no obligation.
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