Richie Alan  Naggar, agent & author  (people first...then business Ran Right Realty )

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Kris Collis, Associate Broker
Smart Way America Realty - East Stroudsburg, PA
Professional Results you Expect 570-801-5525

Yes indeed, check experience of lender.  Last year I sold an historic 150 year old home with a "stream running through it."  Lender required cost to cure. Client said how do you cure a stream under the house?  The other side submitted a proposal that did not answer lender requirements and got rejected.  I found the contactor that did satisfy lender and could do the job right.  We closed on time!!

Mar 06, 2020 02:46 PM
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John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

Yes. It is not the age. It is the condition of the property that is important. The land has value and the buildings will have value. It is not a matter of will the lend...it is a matter of how much they will lend...based on their appraisal of the collateral and the qualifications of the lender.

Mar 06, 2020 02:34 PM
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Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

In the Pasadena and surrounding area, it's quite common.  Is there a reason why lenders in the area in question would have any restrictions on doing so?  

Mar 06, 2020 02:41 PM
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Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Yes, I have owned one and refied it and then sold it and my buyer got a loan.

For more information, ask Jason E. Gordon 

Mar 06, 2020 03:17 PM
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Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Richie,

We have these homes here also.  They have been taken care in terms of maintenance and updating electrical. plumbing, etc,  and some have a historical designation.  The same is true. in SF, and the lenders have had no issues. A

Mar 06, 2020 03:21 PM
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Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

I sold a 192 year old property a couple years ago to a buyer with a loan.  It was not an issue at all.

Mar 06, 2020 04:53 PM
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Jason E. Gordon
AmeriFirst Financial Inc, San Diego, CA - San Diego, CA
Sr Loan Officer, CMA, CMPS, CDLP, CDRE, RCSD, CDPE

I'd make a joke about "age discrimination" not being allowed under Fair Lending Laws, but that is clearly for people, not homes. If the home is up to snuff and it appraises, it is eligible for collateral for loan purposes.

Mar 06, 2020 05:34 PM
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Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Oh wow. What a great question, and in my area, the oldest home I've seen in Needles California across the river = 1905. Code violations would have kiboshed financability, but our country is over 200 years old so I would imagine it happens all the time in older states.

Mar 06, 2020 05:16 PM
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Alan May
Jameson Sotheby's International Realty - Evanston, IL
A moving experience!

Yes.  The age of the property doesn't come into play.  In our area we have many homes that are 100-years-old and older.

And, as you can imagine, there are even more on the east coast, and they're all capable of obtaining financing... age is not a factor.

Mar 06, 2020 04:07 PM
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Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate - St. George, UT
So Utah Residential, Referral & Relocation REALTOR

Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, this question is for you!

Mar 06, 2020 02:33 PM
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Doug Dawes
KW Evolution - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Here in New England they do

Mar 06, 2020 09:30 PM
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Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

They would here Richie Alan Naggar . My first choice would be my friend Chad Vogel , a loan broker. If he couldn't come up with anything I'd check with the Credit Union I currently work with.

Mar 06, 2020 07:13 PM
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Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

I imagine lenders will loan on 100-year-old homes.  They are doing in my area.  I'd be asking why a lender may not lend on 100-year-old homes. 

Mar 06, 2020 05:28 PM
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Steve Higgins
RE/MAX Kelowna - Kelowna, BC

Yes they would. 

Mar 06, 2020 05:02 PM
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Peter Mohylsky. Broker -BRIX REALTY
Miramar Beach, Florida - Santa Rosa Beach, FL
BRIX REALTY -DESTIN

yes

Mar 06, 2020 04:44 PM
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Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, eXp Realty - Kalispell, MT
Helping your Montana dreams take root

Yes, I sold a home that was more than 120 years old. The buyers used a mortgage.

It's not the age, it's the condition.

Mar 07, 2020 05:29 AM
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Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

This sounds like a great investment property. Age is not a factor. Lots of 100+-year-old homes in this country.  It's all about condition and meeting lending requirements, regardless of age.

Mar 07, 2020 03:46 AM
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Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Most of ours are well over 100, and much better construction than the 20-50 yr old homes.

And yes, the banks do loan on these.

Mar 07, 2020 08:13 AM
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Debra Leisek
Bay Realty,Inc Homer Alaska - Homer, AK

I don't see why not. It would depend on the overall condition of the property and the type of the loan & the strength of the buyer.   3 homes on one lot..... is that a a non-conforming detached triplex? 

Mar 07, 2020 12:26 AM
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Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Santa Clarita & Aliso Viejo

Someone will loan on it for sure.

Mar 06, 2020 11:22 PM
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George Iacobelli
Realty Excutives Exceptional Realtors - Wayne Twp, NJ
Real Estate Broker Salesperson Serving Wayne Area

Hi Richie, 

So long as the structure of the homes and surrounding conditions do not pose harm or possible risk for the lender then I can't see why not. Ultimately the appraiser will be the one to give the ok to the lender so you should be there to meet with them and explain everything. 

Always confirm with a lender before advising.

Hope this helps!

Mar 09, 2020 03:07 PM
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Sure.

Mar 07, 2020 12:35 PM
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Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

They do here. We have hundreds of homes built before 1900.

Mar 07, 2020 12:24 PM
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Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I would think so, but definitely would check with my lender professional.

Mar 07, 2020 07:33 AM
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Caroline Gerardo
Sun West Mortgage Corporation - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

Age of subject doesn't matter. Condition does! Make sure all health and safety code violations are fixed- broken window, water heater strapping, carbon monoxide detectors in appropriate location. Is two houses- will be considered a duplex in the pricing add. Tell me the address Richie and I can help you further

Mar 07, 2020 07:30 AM
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Susan Emo
Sotheby's International Realty Canada - Brokerage - Kingston, ON
Kingston and the 1000 Islands Area

That would create a nightmare in my area!  We've homes older than Canada in my backyard!  My own home is 140 years old.  We're known as "The Limestone City" due to the historical forts and homes made of stone.

Mar 07, 2020 07:29 AM
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Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

I don't see why not. In the New England area we have many older, stately homes that are well-maintained and solidly built.

Mar 07, 2020 06:31 AM
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Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Of course they will.

All land is over 100 years old. Now, the improvements is a different story typically revealed as a testimony of preservation. If the owner kept the bugs and water out...they are most likely good to go in recouping the remodeling costs.

Mar 07, 2020 05:26 AM