topic Can a 69 year old get a mortgage loan? in Mortgage Loans

Can a 69 year old get a mortgage loan?

fico7 — Sat, 01 Feb 2020 00:29:03 GMT

Hi everyone,

My mom just turned 69 and she currently has a mortgage loan, but I'm trying to get her into a new build in a better location. Her credit does needs work, but right now I'm just trying to find out if its even possible to get a mortgage loan at that age.

Thanks

Re: Can a 69 year old get a mortgage loan?

ShanetheMortgageMan — Sat, 01 Feb 2020 00:35:26 GMT

Only age that matters is the borrower must be at least 18 years of age, so your mom is good.

Re: Can a 69 year old get a mortgage loan?

fico7 — Sat, 01 Feb 2020 00:54:25 GMT

Thanks.

Re: Can a 69 year old get a mortgage loan?

JVille — Sat, 01 Feb 2020 02:46:53 GMT

I think the oldest “Newlywed” I ever closed a loan for was an 86 yr old young lady and her younger 83 yr old Groom! They laughed all the was thru closing! Certain they had just Hoodwinked the bank 🥰

Re: Can a 69 year old get a mortgage loan?

homeloanexpert — Sat, 01 Feb 2020 17:32:18 GMT

Thinking back over my career, I think the oldest borrower who applied for home alone and was approved was in her mid-80’s. Lenders are not allowed to discriminate based on age, providing you are of illegal age to enter into a contract.

Re: Can a 69 year old get a mortgage loan?

JVille — Sun, 02 Feb 2020 21:17:01 GMT

The reason they laughed was we Happily gave them a 30 yr loan! They thought the Bank was a bit optimistic.