Most banks require that you be no older than 65, at Loan Maturity (date your loan is paid off).

Some may also require that you be at least 21 to apply for a Loan.

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So if you are 55, the longest loan term you can get at most banks is a 10-year loan.  Most condo loans are only for 10 years anyways.

Advice for Buyers over 55

If you are over 55, there are still other options to get financing to buy your home:

 



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Stefane Anub, Lead Broker
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