Lifestyle · Texas
Retiree / 55+ Buyer in Texas
Retiring in Texas? Qualify on your assets, not just W-2 income, and right-size into a home that fits your next chapter.
Common challenges we solve
- No traditional employment income to show
- Significant retirement and investment assets
- Wanting low or no monthly payment
- Considering an HECM / reverse purchase
What you get with Lumos
Asset-depletion qualifying using retirement balances
HECM for Purchase — buy with no monthly mortgage payment
Recast options to lower payment after a downsizing sale
What's different in Texas
Texas homeowners 65 and older can receive an additional homestead exemption and a ceiling on school property taxes for their residence, and Texas law allows qualifying seniors to defer property taxes on their homestead. Your appraisal district handles the applications.
Loan programs that typically fit
Frequently asked
- Do I have to make a monthly payment?
- Not with HECM for Purchase — you make a significant down payment and there's no required monthly principal and interest payment (taxes, insurance and HOA still apply). Subject to program guidelines and lender approval.
- Can I qualify on Social Security alone?
- Yes — and we can supplement with asset depletion from your IRA/401(k)/brokerage.
- What if I sell my northern home later?
- We can recast the new loan with the equity proceeds to slash the payment without refinancing.
