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Valued Member
Posts: 47
Registered: ‎06-30-2013
0

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.

 

 

Valued Contributor
Posts: 1,464
Registered: ‎07-29-2008
0

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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