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I can recommend local lenders that I know follow the rules and treat you like most people want to be treated. Honestly and fairly without regards to age or other protected class. I also will be happy to help you with finding the right home if you like. Even if you do not use me I recommend Jon Tebay with ENG Lending. His office is just off 79 in Wexford. Give him a call and if you don't mind say Benny Smith referred you. OH and we get no fees for these referrals.
As specified below, you can not be discriminated against because of your age. The reverse mortgage is not a realistic option when purchasing a home. A reverse mortgage would require a very big down payment. The rule of thumb is to take your age minus ten and that is your availible loan to value. Example- You are 70 years old. That means you can only have a 60%LTV, meaning you have to put a minimum 40% down. If you need help going through your financing options feel free to contact me or apply on my website.
Lincoln Mortgage Company
office: (856) 810-1200 ext. 223
cell: (609) 207-9098
You are allowed to borrow just like any younger person. There are laws to protect against age discrimination.
If you are buying a home or just trying to refinance to make ends meet a Reverse mortgage is an excellent program to help out seniors. The requirements are that the homeowner be over the age of 62 and live in their home at least 6 months and one day out of the year.
I would be happy to discuss either option with you. Feel free to call me at 267 992 7276
Cornerstone Lending Inc
Southampton Pa 18966
215 953 0800
cell 267 992 7276
VOTED BEST IN BUCKS 2010
NMLS ID 143960