What are some low income elderly mortgage options for the elderly other than hug?

Question

what about fha what is their interest rate on fixed and how long can you finance the home

Answer 1

FHA is particularly flexible when it comes to credit, mostly. For low-income, I would suggest looking into a reverse mortgage. You could have no income and no credit and still might qualify for a reverse mortgage.  

Answer 2

Your interst rate will depend on your credit score, and most fha loans are for 30 years. Also, you have to have enough income to satisfy the loan.

Answer 3

FHA loans are not specifically "for the elderly."  The main difference is they allow you to get a loan for a relatively small down payment.

Answer 4

Mortgage lenders cannot discriminate due to age, if this person has a verifiable income and an acceptable debt to income ratio, this person can get a loan.  

Answer 5

depending on your age, there is the reverse mortgage if you still have equity in your mortgage