age discrimination in mortgage refinancing

We have been attempting to refinance since 10/20

we have excellent credit and we purchased our home in june 2018

My husband and I are both 75, we keep being asked for the same info to be updated

There was no problem when we purchased 3 years ago. could this be age discrimination?\

refinance would save us $1000 a month.

Donna Swanson

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Honored Social Butterfly


you asked:  There was no problem when we purchased 3 years ago. could this be age discrimination?


Probably not - It is illegal for a lender to use age as a dis-qualifier for a home loan.

But there could be other things.

You have told us a few things about yourselves - like you have excellent credit, owned house for (3) years, both of you are 75 years old.  There is a whole lot more that is considered.  I'm just gonna hit a few highlights that could be problems areas.

Here are other things that are reviewed for a refinance:


  • what is the loan (current mortgage) to the market value of the home - i.e. what is it gonna appraise for -  How much equity do you have in the house now?
  • is it in good repair especially any big maintenance items
  • An appraisal will have to be done - and you pay for it.


  • credit score - the better the score; the better the interest rate
  • current income - has to support the refi payment amount after considering expenses - mortgage can't be more than a certain % of your income.
  • current expenses (all of them) - debt to income ratio

Things change in (3) years so it is the current state of the home and your finances that the lender will be looking at for consideration.


I am gonna ask the moderators to move your post & my reply here from this General Help Board to the Housing board so that your post will be seen in the category where others may want to reply.


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