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.
What is the best way for my Dad to get a home loan?
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).
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