15 hours ago
Contrary to popular belief, there is no age limit for getting a mortgage.
It is not your age, but rather your ability to repay that is taken into account by the bank in deciding whether you qualify for a loan, mortgage or otherwise.
Whether you are 18 or 65, chartered banks and other lenders determine your eligibility using the following conditions: your income, the state of your credit report, other loans you have taken out, and your credit ratios. indebtedness. There is no difference according to age, or even for the mortgage rate offered.
Ability to pay
The most important thing is that you are able to make your mortgage payments, for example for the next 60 months if you take a five-year term, and beyond those five years when you renew your loan. .
And even if you qualify for a mortgage, that doesn’t mean it’s …
https://www.journaldequebec.com/auteur/ghislain-larochelle
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