Financing in Sarasota County>Question Details

jg82140, Home Buyer in Tarpon Springs, FL

Can we get a mortgage based on income from investments?

Asked by jg82140, Tarpon Springs, FL Fri Aug 17, 2012

We sold our home and moved to Florida after retiring. We are ready to buy a new home and would like to get a $500K mortgage equal to 40% to 50% of the cost of the home. Our net worth is $5.0 million. Our income is SS, a small pension and we draw about $10,000 per month from our investments. We could easily draw $15K per month if necessary.

Help the community by answering this question:



your credit score and credit history play also an important role when applying for a mortgage loan.

Please feel free to contact me at your earliest convenience to discuss your pre-approval for next Jumbo Mortgage Loan.

Best Regards,
Beate Rodriguez
Lic. Loan Originator
NMLS# 299 244
Cell: 954.695.4849
0 votes Thank Flag Link Sat Aug 18, 2012
As Dan and Alaric stated, you most certainly can.
A mortgage broker is a great place to start.
The last place to go is Bank of America, Chase, Wells Fargo or Citi.

You will find your situation most acceptable to those lenders who have a history of investing in the community through small business loans and local mortgages. Enter the location of the subject property and select an "A" or "B" graded lender who clearly has experience with portfolio loans.

Also, if you want, I can send you a few personal recommendations of local lenders who deal regularly with jumbo lending.

If you are serious about making a purchase give me a call.
Don't use the 'contact' link.
Don't use Trulia email.
Don't reply in this thread.
If you are serious go old school and pick up the phone.

Best of success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group, Palm Harbor, FL
727.420. 4042
0 votes Thank Flag Link Sat Aug 18, 2012
Yes, provided you can document your assets and income and your credit is good. Income investment is income. As a formerly licensed lender I did many loans like this and only had to jump through the hoops of documenting everything to the lenders satisfaction.
Talk to a local mortgage lender and see what they can offer. Rates are awesome and with your down payment, if everything else checks out I can't imagine a problem.
0 votes Thank Flag Link Fri Aug 17, 2012
This is a good question for your CPA an your Real Estate Agent. Area and Location will need to be address, property taxes and closing cost. Also remember you are retiring. I alway advise to put together a team and look at all your options. Make sure you pick the right place. With the interest rate being as low as they are and your net worth. You should be able to get what youre looking for.
0 votes Thank Flag Link Fri Aug 17, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer