Real Estate Tips from Bob Rich-Never Too Old

During the next ten years, senior citizens will account for more that 20% of our total national population. Not only are people living longer, they are living “younger” and healthier. That leads to the purchase of homes for older citizens with children. Will there be any problems in your getting a mortgage because of age?

Not if you pass the credit requirements of the bank. The law is on your side. The Fair Housing Act prohibits discrimination on the basis of race, color, creed, or national origin. The Equal Credit Opportunity Act prohibits lenders from any type of bias in the areas of AGE, marital status, sex, income from public assistance programs. You, as a mortgage borrower, are well covered.

Your mortgage must be evaluated on the basis of the property desired and your creditworthiness --- not your age!