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| *Loan,banking and credit>>>mortgage loan |
For homeowner making approx $47k: will mortgage co give a new loan to a single 60yr old woman? What's criteria |
For homeowner making approx $47k: will mortgage co give a new loan to a single 60yr old woman? What's criteria Age doesn't matter good or acceptable credit scores do Depends on credit score and amount of the mortgage......I can't see why not. Lenders cannot descriminate on age. They use income, debt, credit and appraised value to make a decision on a loan. I found lots of good information here. http://www.mortgage.jims-info.com/... Your best bet is to contact a mortgage broker in your area. They generally work with 20-30 different mortgage companies and can find something suitable for you. Also check with your local banks and credit unions. The criteria for a mortgage will depend upon your annual salary, other asset you may have, down payment, and the price of the house that you are buying. Age and sex discrimination in lending is illegal I worked in a Bank giving Mortgages for 7 years and you bet we discriminated because of age. The long and the short of it is, why would we borrow you money that you probably won't live long enough to pay back (Mortgage payments are usually for 20-30 years). Don't mean to upset you but you will likely be asked to put down a larger deposit than usual, so the Bank has less at risk. |
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