We are exactly 3 weeks from obtaining the cash (5K). Since we are 2 months out from closing date, think it is possible the lender wants to see the reserve money now or will wait until it is all there. It might be possible to use assets to qualify for a mortgage (assuming they are plentifulsufficient), but it might be easier to secure all mortgages before retirement. Im planning to retire in 2.
5 years, sell my current home owned outright and purchase a home in another state. I expect to need some amount personal loans ny state mortgage in addition to the approx.
100k from the sale of current home.
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Leveraging is using other peoples money for investments so you use less of your own money.
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