What is the best way for my Dad to get a home loan?
Home Mortgage
Knulp asked:
My Dad is 63 and worried that he will not be allowed to get a home loan over/for a period of 30 years because of his age. He is in stable employment as a permanent employee but has been in this position for less than two years. The land he wants to buy is $80,000 (in Australian dollars). Is there any way that he could get a loan, and how do you think he should go about doing it? Any help at all would be sincerely appreciated.
Angela
My Dad is 63 and worried that he will not be allowed to get a home loan over/for a period of 30 years because of his age. He is in stable employment as a permanent employee but has been in this position for less than two years. The land he wants to buy is $80,000 (in Australian dollars). Is there any way that he could get a loan, and how do you think he should go about doing it? Any help at all would be sincerely appreciated.
Angela
March 25th, 2009 at 9:56 am
Tyler
My company did a 30 year loan for a 93 year old woman the other day. If they refused to do it for him, he could file a discrimination lawsuit.
Companies realize that the likelihood of the person keeping a loan for that long is slim to none (most either pay off early or refinance).