will mortgage companies give 30yr 20yr home loans to senior citizens with good credit?

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  1. Reply
    dietpepsigirl77
    April 29, 2011 at 11:40 pm

    Sure they will! They can’t turn you down because of your age that is discriminating! As long as you qualify for a loan you get buy a house! They also have additional insurance that you can buy so that if you die the house is automatically paid for so that your hubby kids grand kids ect don’t have to worry about that extra bill!
    PS T-bird that isn’t true. The insurances isn’t that expensive my hubsand who is 63 just got a house loan for 150k and the insurance that takes care of the house after he dies is 23 bucks a month.

  2. Reply
    tbird
    April 29, 2011 at 11:44 pm

    You cannot say they cannot turn you down, that would be discrimination. You can bet your butt they can turn you down, it is their bank. They can do what ever they want. You have a 75 year old man come into the bank and wants to borrow 250k with 50k down. That bank does not want to loan out 200k to a 75 year old man. The insurance you are talking about is a mortgage insurance and believe me that would be more expensive than the mortgage payment at that age.

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