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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
    rlanicek
    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
    http://www.primelendingonline.com

  3. Reply
    bianca
    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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