“I’m 63 years old and would like to move and buy a home in San Diego. Will lenders make a 30 year loan to a senior? That would mean I’d be 93 when the loan is paid off”
Good news. Lenders are not allowed to discriminate based on age. If you qualify, they’ll make the loan.
Another option few people know about is using a reverse mortgage to PURCHASE your home. Two big benefits:
- Qualifying guidelines are very loose, much easier than a regular mortgage
- You don’t have any mortgage payments to make
If you’re interested in a reverse mortgage, let me know as I know a great lender who can help you.