Senior buying a condo
I plan to buy a condo next year and I want to know which mortgage is best for me. I can handle payments for a $150k 15 year mortgage but would prefer a 30-year loan for lower monthly payments. I am 62 right now, does being a senior affect my loan approval? I‘ve heard that some lenders discriminate due to age. by bdthomas329 from Cedar Key, Florida. Oct 28th 2021
Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,843 contributions
Lenders absolutely positively do NOT care about your age, as long as you are over 18, and can legally enter into a contract. Many seniors, especially once going on a fixed income, like the much smaller mandatory payment of a 30-year loan versus shorter-terms. You can always pay extra. Just reach out to a mortgage broker in your area. Stay away from the big banks, and the big online lenders. I lend for properties in WI MN IA ND SD. Find me at WI-MortgageBroker.com Cambria Mortgage, NMLS 274132
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