I know that this is Obvious but it bears repeating.
A couple of days ago I read a post that asked if you can give a 30 year mortgage to an 85 year old couple. The post was popular here on Active Rain and there were quite a few responses that pointed out the obvious.
Obvious to anyone who has been in this business for any period of time anyway. The fact is that most people move every 5 - 7 years. Very few people stay in a 30 year mortgage for 30 years. And there are Fail-Safe's in place in place that protect investors in the event of an untimely death.
It really got me to thinking about the subject. You see the image to the right? That plaque is hanging on our wall in the office. It's a reminder that we should not be discrimating for any reason at all. So long as a person is qualified for a mortgage there is nothing else to consider. Sex, race, age, familial status are all irrelevant to the lending process.
The only thing that matter's is that they are qualified for the loan and they cannot be denied on any grounds other than if they are not qualified for the loan.
So I wanted to write this short post as my way of saying, yes, I would approved a qualified 85 year old couple for a mortgage.
37 Boynton Ave
(845) 243-5293 (Office)
(518) 565-0799 (Cell)