Retirement income is real income. Social Security, pensions, IRA distributions, and investment income all qualify — you have more options than you may think.
Kelly Nadeau, FL Broker BK3344334, NMLS #1027618 · Ray Nadeau, FL Broker BK3344407, NMLS #1027617 · Equity Smart Home Loans NMLS #856170, FL Lic. MBR-2341 · Equal Housing Lender
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.
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. 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. 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.
Existing homeownersPurchasing a Florida second home or vacation property? 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 |
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.
📞 321-321-9455 · Kelly Nadeau FL Broker BK3344334, NMLS #1027618 · Ray Nadeau, FL Broker BK3344407, NMLS #1027617