"The mortgage can last up to 80 years", is it good for buyers? Can an 80-year-old still apply for a mortgage?

The longest mortgage can be repaid to 80 years old, which means that during the loan period, the borrower can choose to extend the loan period until he reaches 80 years old. This arrangement may be good for some property buyers, because it can reduce their monthly repayment pressure and help them realize their dream of buying a house more easily.

However, it should be noted that although the loan period can be extended to 80 years old, banks usually require borrowers to repay all debts before the loan expires. Therefore, the borrower must make a repayment plan within the loan period to ensure that all loans are paid off before the loan expires.

In addition, whether an 80-year-old can apply for a mortgage depends mainly on his repayment ability and credit status. Banks will consider the borrower's income and repayment ability, as well as the borrower's credit rating and credit history. If the elderly still have a stable income source and good credit, they may be approved to apply for mortgage loans. However, because the income and employment status of the elderly are usually unstable, it may be more difficult for them to apply for mortgage loans.

In short, the mortgage can be repaid to the age of 80 at the longest, which can alleviate the monthly pressure of some buyers, but the borrower must make a repayment plan within the loan period and guarantee to pay off all the loans before the loan expires. Whether the elderly can apply for a mortgage needs to be evaluated according to their repayment ability and credit status.