Would you advise a senior in their 60's or older to buy a home with less than 45,000 income?

Answered by:

George Medrano

HomeSmart Evergreen Realty
1 Question Answered
Answered on May 14th, 2020

My first answer would be to look into a reverse mortgage to see if they can qualify for the loan.  Based on the 45k income I would say that a reverse morrtgage MIGHT be the way to go as long as the rest of the package is good for the buyer.  The amount of the down payment has a lot to do whether they should buy a home or not.  The whole package has to be a good fit for the buyer otherwise no sale! 


See all 473 answers