Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

Personal Finance and Investing

A HERETIC I AM

(24,632 posts)

15. I bought my first home at 62

Reply to XanaDUer2 (Original post)

Fri Oct 18, 2024, 01:59 PM

Oct 18

And I have a 30 year mortgage.

I also put a $25,000 solar array on the roof and that is a 20 year note, although I am going to pay that off in about 7 or 8 years.

So no, you aren't too old. Of course, the bigger down payment you have the better off you'll be.

Best of luck!

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

18 replies

= new reply since forum marked as read

Highlight:

Question about mortgage [View all] XanaDUer2 Oct 18 OP

Yes frogstar0 Oct 18 #1

Thank you XanaDUer2 Oct 18 #2

He is biased IbogaProject Oct 18 #6

Try Penfed.org bucolic_frolic Oct 19 #17

If your credit rating is good and you qualify financially is all that matters JT45242 Oct 18 #3

My in laws were in their 80s when they got a 30 year mortgage in Florida. OLDMDDEM Oct 18 #4

They can't deny you for just age IbogaProject Oct 18 #5

I'm on ssdi XanaDUer2 Oct 18 #7

Divide your total annual income by 40 and that is your max monthly payment IbogaProject Oct 18 #8

You're very kind XanaDUer2 Oct 18 #9

yes, mainly because mortgages have excellent recoveries, outside of great recession - type situations. unblock Oct 18 #10

Wow, thank you! XanaDUer2 Oct 18 #11

Yep, there's really not much risk newdayneeded Nov 8 #18

You might even consider the FHA loan route (great for first time home buyer). waterwatcher123 Oct 18 #12

Yes DetroitLegalBeagle Oct 18 #13

I just got a 30 year mortgage on a condo.. Im 75. Joinfortmill Oct 18 #14

I bought my first home at 62 A HERETIC I AM Oct 18 #15

Check with your local city/county/state government for Phoenix61 Oct 18 #16

Latest Discussions»Culture Forums»Personal Finance and Investing»Question about mortgage»Reply #15