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i seem to not see any factoring of someones age in a mortgage loan offer given today, is it just my inexperience in the “in-depth” works of such or is it really never factored in at all? o-0

it seems to me like a plausable thing to consider, like a company considers a life insurance plan, in both cases within this your judging payee’s credit basis upon the statisically proposed longevity of said proposed client, though given in a mortgage case its definantley less of an issue for basing the true bar of the deal…income would be much more of a factor im sure in this case, but still, it seems, it would help younger less prominently wealthy kids to make a home if the banks were easier on them due to the length that they could in most cases take out a loan….issuing lower payments….due to that fact…yet again i guess most retire by 55 or so….so maybe their not far off in factoring in this within the ideas of it all………is it a factor in any cases you’ve known personally? thx

5 Thoughts on do todays mortgage loans factor in age at all?
  1. Reply
    karrie r
    February 5, 2014 at 3:17 pm

    Mortgage companies are regulated by the fed’s they can not discrimiante for age as long as the borrower is over the age of 18.

  2. Reply
    February 5, 2014 at 3:51 pm

    Not at all, just as Karrie explained. Whether you are 18 or 80 your mortgage loan qualification will be determined by your credit & income.

    Rick Lanicek

  3. Reply
    February 5, 2014 at 4:13 pm

    lenders can’t discriminate people because of age, religion or skin color and if they are catch to do so – they will be in trouble.

  4. Reply
    Daniel P
    February 5, 2014 at 4:15 pm

    All of the above are correct, however, a lender can require a life insurance policy in certain situations as part of the loan package. Or a Mortgage insurance policy.

  5. Reply
    Byron W
    February 5, 2014 at 4:31 pm

    No “traditional” mortgages – it is a violation of federal law. Reverse mortgages, however, are only available to individuals 62 years of age and older.

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