I'm 57 years old with pristine credit score. Am I too old to get a real estate loan?

Question

Just would like a modest suburban home in southern California.

Answer 1

As long as he has "collateral." <}:-})

Answer 2

I'd suggest a better place than southern cali, but if you insist... yea, you're good to go.

Answer 3

No you're not too old. My dad got a real estate loan when he was in his 80s. And he refinanced at 90.

Answer 4

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Answer 5

You cannot be discriminated against due to your age.  All they are concerned with is if you can you qualify for a loan and can pay it back. Your credit score is fine but you need to prove a steady income source.  As long as you can prove that you can pay, you should have no problem with a loan.  make sure that you factor in costs for utilites, insurance, auto, medicine, vacations, food, home maintenance and repair etc.  Don't forget to have some case aside for emergencies.

good luck

Answer 6

No, of course not !!!!

Answer 7

As someone very experienced with mortgages (home loans), I can assure you that being older is never a negative factor in approval for a home loan.  

In fact, it's usually a positive factor!

Answer 8

Nope, I'm sure all you have to do is show the income that will pay for the loan.  Age doesnt matter.