Home Loans for Seniors on Social Security
Can you get a mortgage on Social Security? Yes. Social Security income counts for qualification. Compare home loan options for seniors—whether you're buying, refinancing, or tapping equity.
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What can I afford?
Add your monthly income. FHA allows up to 43% of income for housing (less any debts).
Monthly benefit
Monthly draw
Monthly
Part-time, annuity, etc.
Enter your monthly income to see your estimated buying power.
Social Security income counts for mortgage qualification
Lenders can use Social Security benefits as qualifying income. You'll typically need a benefit verification letter from the Social Security Administration or recent bank statements showing regular deposits. Most lenders require that the income is expected to continue for at least three years—which is standard for Social Security retirement benefits.
Pensions, IRA distributions, 401(k) withdrawals, and other retirement income also count. A licensed broker can help you document your income and find lenders whose requirements fit your situation.
Loan options for seniors
- Conventional: Standard rates and terms. Down payment as low as 3% for qualified buyers.
- FHA: Flexible credit, 3.5% down. Often used by first-time buyers.
- VA: $0 down for eligible veterans. No PMI.
- Refinance: Lower your rate or payment. Cash-out refinance lets you tap equity.
Next steps
One application matches you with multiple lenders so we can find the best one for you. Apply here to get started—no obligation, no credit impact.
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Get matched with lenders who work with Social Security and retirement income. One application, multiple offers—no obligation.
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