There's no reason you shouldn't be able to.

Check with a good mortgage broker for verification of that.

Look: What a lender cares about is whether the borrower will be able to make the payments on the loan. There may be some question about your future employment prospects, but even there--if you're planning on retiring--the question is whether you have sufficient savings (plus Social Security) to cover the mortgage.

And let's be absolutely blunt. You're worried that the lender is afraid you'll die before you pay off your 30 year mortgage. Fact is, you'll probably be dead in 30 years. (I probably will be, too. I'm in my late 50s. So I'm not making fun of you.) But lenders also know that most people don't end up paying off their mortgage month by month. I don't know what the precise number is, but the average person sells and buys a home every seven or so years.

And with the down payments being required today, some years of ownership with principal paydown, and a recovering real estate market, if you were to die in, say, 10 years, there will be plenty of equity in your property. By then, it might be worth $200,000. Meanwhile, with the down payment and principle paydown, you might owe $95,000. The house would probably go into your estate, and would be sold. There's plenty of equity there to cover the remaining mortgage on the house. Even lenders can do that sort of math.

So: Find a good Realtor. Ask the Realtor for the names of a couple of good mortgage brokers. Talk to one (or more). Discuss your concerns. But I'm confident you'll find you have nothing to worry about.

Hope that helps.

The answer is yes, but difficult.
Think about the amount (mortgage lender), The term (traditional 20 plus), The type of mortgage (repayment or interest only), The type of interest deal(fixed rate or discounted), The length of the deal(mortgage term), The lender (Mortgage Broker).

Resolve, you have to take the "initiative" and do your home work. Only you know what you can afford and what what your personal situation is.
Keep in touch.

Of course you should be able to get a mortgage loan. My Dad got one about 2 years ago and he is 91 now. Talk with a couple of different loan officers. You could get the names of a some in your area from a Realtor in your area and it's best to be working with a Realtor during the entire process.

I work in Northern Virginia but love Salem!! I went to school at Roanoke College in Salem! If you want a referral to some good agents in your area I'll be glad to help - or you can do some searching yourself and find one.

Good Luck!!

Stan Reed, Realtor
Keller Williams Realty

Hi Ian,
Everything is possible ?

Certainly you can get a loan. Age does not matter.

A lender can not discriminate based on age.

Dear Ian

Congrats to you, of course you can get a loan. I was at a Mortgage Seminar last Tuesday night put on by Bankers Preferred Mortgage in Burlingame, Calif. and Lilyette, one of the brokers there, indicated that she just completed a 30 year mortgage for a 95 year old man. Shocking right!!! She said up until December lst, there is some flexibility with the lenders because of the government participation in mortgage loans at this time. Although everyone knew this man was not going to live another 30 years, he had the assets to off balance his age which reduced the risk for the lender. Get in touch with a lender and start the process. This is the best time in my history of selling real estate for anyone to buy a home, best interest rates and lots of great buying opportunties. Good luck to you and welcome to home ownership.

Denise Laugesen
650-465-5742

Cashin Company
#1 Producing Agent
Denise Laugesen
Direct Line: 650-403-6225
Email: deniselaugesen@comcast.net
Web: http://www.deniselaugesenteam.com
DRE: 01011089

If your age was a factor in considering your qualifications for a loan, that would be discrination. Wait another year to buy, prices are still declining. Good Luck

There should be no reason why you can't qualify for a mortgage. If you haven't already you should meet with a local mortgage professional to talk about your qualifications so that there are no surprises when you start to look for your first home.