Planning your mortgage with an eye on retirement


I have been working with several buyers lately planning their purchases with retirement in mind. I have been impressed at how purposeful they are… even more so because they aren't all thinking about retiring soon. Their plans are as different as their situations. Here are some examples…

  • 15 year mortgage – planning ahead to have mortgage paid off when they retire in about 15 years
  • 30 year mortgage – paying extra principal each month to pay off early, but keeping the option for lower payments when needed
  • 5 year Contract for Deed – planning ahead to have home fully paid for when she retires in 6 years
  • Cash – selling current home and using proceeds to pay cash for downsized home
  • Equity line of credit – using equity line of credit on current home to pay cash for less expensive home now… then paying it off after selling current home

Creative combinations and solutions abound… the most important part is thinking through what could work for you, then exploring options.

Sharlene Hensrud, RE/MAX Results –Baby Boomer Realtor

The HomesMSP Team – SharleneJohnAngela – Twin Cities Realtors



Written By

I love what I do! Highly insightful, analytical and creative, there is nothing I love more than helping you find the right solution for your real estate transition. My mission is to serve my clients with honesty and integrity, exceeding their expectations in service and support… and to help others by donating a portion of every transaction to Habitat for Humanity.

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Sharon and John Hensrud

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The HomesMSP Team is committed to meeting you where you are and listening… really listening to understand you so we can use our extensive knowledge of the market and local neighborhoods to give you personalized service.