Question:
“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”
Answer:
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.
