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Q: Is there an age limit in buying mortgage insurance?
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What is the rate of mortgage insurance?

Let assume any of the mortgage insurance firm. That is going to depend on the amount of coverage, your age, health, gender, and a few other items. It is usually better to deal with your insurance agent on this rather than the mortgage company. If you mean do mortgage insurance, this is a product that insures the lender against default by the borrower. The rate for that product depends on the amount of the loan vs. the property value, the type of loan and the credit score of the borrower.


When buying term life insurance should you buy 10 year 20 year or more?

Buy the highest amount they will allow you while you are younger and healthier. You never know what your health condition will be in 20 years. You should always buy life insurance with a goal in mind. What is your goal for buying the term life insurance? Why do you need it, and for how long? You should buy term life insuran e for a term that fits your needs. If you are buying term life insurance for mortgage protection, maybe 20 or 30 years is right, depending on the length of your outstanding mortgage loan. If you are buying term life insurance to provide protection until your children are on their own, maybe 20 years is right for you. It depends on your personal situation. Premiums would depend on your age and certain health factors and your lifestyle. If you are young you may even want to go for 30-year term insurance. The premiums for a 10-year term would be more expensive than premiums for a 20-year term. This type of insurance is strictly for meeting your family's needs should you die within the term period. It accrues no interest over the years and there is no surrender value.


What is the average age to finish paying a mortgage?

Making less then 100K a year, mortgage can be paid off by age 32...


Is there a age limit to opening a savings account?

No. There is no age limit. Anybody who is above 18 yrs of age can open an account.


What is reverse equity mortgage?

a reverse equity mortgage usually refers to a reverse mortgage, also referred to as a HECM loan. (Home Equity Conversion Loan). The key difference between a regular mortgage and a reverse mortgage is that no monthly mortgage payments are due on a reverse mortgage. A reverse mortgage also does not have credit or income requirements because there are no payments due. Qualification is based on age- minimum age 62- the value of the home and its location.

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There is typically not an age limit for acquiring disability insurance, but premiums may be higher for older individuals. It's best to purchase disability insurance earlier in life when you're younger and healthier to secure better rates and coverage.


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