+1 vote
I am trying to purchase a home but because I am retiring at the end of June and already submitted my letter for retirement, I was told I cannot close on my mortgage until after my first retirement pension check is on deposit in the bank. That will be at the end of July. I was told it is a NYS Regulation that prevents me from closing before that occurs. Where can I find information about the regulation because the seller refuses to believe that I cannot close sooner? Believe me, I would if I could!
asked Apr 14, 2018 in Conventional Loans by Cheryl

1 Answer

0 votes
With pensions or social security, you need the  retirement awards letter. You don't need first payment.  Thats only if you get an offer letter of employment from an employer you need  30 days paycheck stubs prior to a clear to close.
answered Apr 15, 2018 by GustanCho (106,540 points)

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