This is a YouTube video titled "Assets as Income" containing a financial advice segment recorded on October 26, 2021. The speaker, Fred Wilson, explains how individuals at or above retirement age can use the balance of their retirement accounts as qualifying income for home loans, even if they are not currently withdrawing funds.
Did you know that even if you're not pulling retirement funds out of your retirement accounts, you still might be able to use those as income to qualify in your home loan? If you're at least at retirement age, which is 59 and a half or older, and you're not currently drawing from your retirement funds, you can then take the total balance of Your retirement accounts times 70% to account for, you know, assumed taxes being taken out, then divide that by 240 months. That would be your average monthly draw if you took it out over the course of 20 years, and that's used to qualify for a home loan.
