getting a mortgage loan at 80

Guest 0.10 Dollars($)

MOM wants to buy her own house. She is in her middle 80s and have a good credit. Incomes are from her SS and pension. Will she be able to find a lender at this age for her loan to get her own house?

jameshogg · Posted: Fri May 26, 2006 11:17 am Post subject:

Hi Rosales,

Age is not going to be an issue with any lender I believe. She can go ahead and look for a lender for her loan.

As long as she qualifies for the amount of home she is looking for, there will not be any problem.

James

Samantha · Posted: Fri May 26, 2006 11:43 am Post subject: age factor in mortgage

Hi Rosales,

According to the Fair Housing Act and ECOA, no discrimination can be made in case of housing sales or loans on the basis of race, age, national origin, religion, sex, color, marital and family status or receipt of public assistance funds.

So, no credit transaction can be made based on these criteria. Your mother will certainly get a mortgage loan and can't be denied by anybody simply because of her age.

I have personally seen lenders giving mortgage loans to couples in their 90s. You need not worry about her age. Try to find a suitable lender for good rates and terms.

God bless you.

For MortgageFit,
Samantha

Guest 0.10 Dollars($)

Correct info. None can deny you on a mortgage loan because of age factor.

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