As much as you want to have everything under control, there are moments in life when unforeseen events or expenses that were not contemplated appear, so you will need to have money quickly. For this purpose, liquidity credits have been created, in other words, to be able to request a home equity loan. Precisely today we will talk about the maximum age to mortgage a house and obtain a liquidity credit.
How to mortgage a house
Before telling you what is the maximum age to be able to mortgage a house, let’s see the steps to carry out this procedure.
- The request: At this stage the same thing happens when you buy a house. You must make a formal request to the bank, going to a branch or online, adding some information to this.
- The evaluation: with the data provided, the bank will conduct an investigation of the income you receive per month; your credit history; and the qualification you have in the bureau, in order to establish the amount of money they can lend you according to the cost of your home.
- The result: after the evaluation, the bank will inform you how much the loan will be. Pay special attention to information such as the duration of the loan, the interest rate and the amount of the monthly payments.
Maximum age to mortgage a house and obtain a liquidity credit
The maximum age to give home as collateral to obtain a loan will vary in each financial institution. Being the main favorable factor, that in our country this financing is granted in cash to get you out of trouble.
In the case of Savelink Bank, the maximum age that you must have when the credit term ends will be 85 years. Do the calculation well, because when the loan is authorized you will not be able to exceed this age. Moneykeep Bank, for its part, does not accept applications from people over 65. In the case of Sanbuwan Bank, you will not be able to exceed 78 years between your age and the term of the loan with mortgage guarantee.
Our advice is that before requesting the loan, you compare the maximum age to mortgage a house and obtain a liquidity credit in each bank, as this will help you expand your possibilities.