Risk-free, no obligation consultation

Blog

Challenges in Getting Loans after Retirement (And How to Fix Them)

April 16, 2018

Getting a loan can be difficult for many people, no matter their stage of life. But during retirement, with the absences of a steady income stream, that challenge can grow to be much larger as lenders grow wary of retirees’ financial positions. However, there are some workarounds. First, shop different lenders – some are more willing than others. Next, consider your streams of income – and be sure to take them into account. Then, once you find a good lender, stick with them.

Key Takeaways:

  • Getting a loan can be tough for just about anyone – but it’s even harder for retirees.
  • However, there are a few things that retirees can do to return the odds to their favor.
  • For one, consider all income sources when applying. Then, shop lenders. And, once you find a good one, stick with them.

“Having a good credit score doesn’t also give you much advantage in retirement because lenders put more emphasis on your income.”

Read more: http://lovebeingretired.com/2018/01/16/challenges-in-getting-loans-after-retirement-and-how-to-fix-them/

Share this article
About the author

Tyler Williams

As an Area Owner and Operator of a Home Matters Caregiving franchise, I am committed to ensuring exceptional outcomes for our valued clients and caregivers. My passion for elevating our service quality is matched by my role as a blogger and social media manager for the franchise, where I share insights, updates, and foster community engagement. Prior to senior care, I used my strategic communication and brand development skills as the Marketing Director of a regional bank. My diverse experience supports my commitment to excellence and innovation in both healthcare and digital communication.
Related Posts

Home Matters Caregiving

Customer care

Looking for Senior Care Franchise?

Home Matters Caregiving

Customer care
5.0

Based on 340 Google reviews

“I love how supportive and dependable Home Matters was for my Grandmother during the time we had their services. Their caregivers are dependable and very attentive to their clients!”
Tiffany C
“We had some hiccups with another agency and then found Home Matters through a friend! They made sure we were heard and their scheduling team is very communicative! Very happy with HMC!”
Joshua Clasberry
“I am so grateful. All staff members were friendly, courteous and kind. I would recommend them to everyone that needs help in their home! They are rock stars!!!”
Kathleen Light
“Home Matters Caregiving has been taking care of my mother full time now for over 3 years. They are committed to helping people and always work hard to find the best caregivers possible.”
Pam Knell

Hi! How can we help you?

I'm Looking for Care
I'm Looking for a Career
I'd Like to Own a Franchise