Articles related to focusing on healthy aging, prevention, mobility, cognition, nutrition, independence, and caregiving support.
With over 75% of adults 50+ wanting to age in place, understanding financial tools is key. So, what is a mortgage that is only for persons 62 years old or older? It's known as a reverse mortgage, or more specifically, a HECM.
According to a 2023 study by the Federal Reserve Bank of Philadelphia, rejection rates for mortgage applications tend to rise with age. This does not mean it's impossible, but it does highlight specific challenges older applicants may face when asking, **is it hard to get a mortgage at 65?**
According to the U.S. Federal Reserve, roughly two-thirds of homeowners have a mortgage, a trend that includes many older adults. Contrary to popular belief, your age alone does not determine eligibility, so the answer to 'Can I get a 30 year mortgage at 60?' is a resounding yes. This guide explores the key factors lenders consider beyond your date of birth, from income to credit score, ensuring you have the information needed to secure financing.
According to the National Council on Aging, over 80% of adults aged 65 and older own their homes, but many still wonder: how do seniors get a mortgage? While the process has unique considerations for retirees, various lending options exist to help seniors achieve their homeownership goals, whether buying a new home or accessing equity.
