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No Retirement or Investments?

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TenaciousRebuilder
New Contributor
‎01-17-2014 10:50 AM
‎01-17-2014 10:50 AM

No Retirement or Investments?

How important are investments and retirement accounts when applying for a mortgage?

 

I would like to buy a home in the next year and currently have zero Retirement Funds or investments. I will have at least a 10% down payment when I apply for the loan and my FICO scores should be in the 700-720 range.

 

 

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BrianB_The_Loan_Professor
Valued Contributor
‎01-17-2014 10:57 AM
‎01-17-2014 10:57 AM

Re: No Retirement or Investments?

FHA does not have a reserve requirement - conventional wants a couple months of mortgage payments in reserves

Other than that investments and retirement do not play into a mortgage approval

Brian

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Brian B The Loan Professor
Mortgage Banker - offering FHA, VA, USDA , and Conventional mortgages in all 50 states -

If I do not respond to a follow up question please feel free to contact me directly
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