Question

Because an applicant needs to be able to prove that they can pay a mortgage payment for the entire life of a loan, lenders are allowed to factor in someone's age when approving or denying them for a loan.

a. Trueb. False

Answer 1

TRUE

Step-by-step explanation:

In the case of long term loans and financing, the age of the applicant is an analytical parameter that the lender takes into consideration. This is because these loans are long and an older person is more likely to die before the installment ends. It is therefore more difficult for an elderly person to finance a home than a 30-year-old, for example.