I wish you had contacted me before getting into such a debacle. Combining age eligibility with public assistance criteria is like mixing water and oil. Under the Equal Credit Opportunity Act (ECOA), that's two strikes – not three! – and you're out.
Let's keep it real. With limited exception, a creditor may not take into account an applicant's age (provided that the applicant has the capacity to enter into a binding contract).
There are primarily three criteria that a creditor can use to take the age of an applicant into account.
1. In an empirically derived, demonstrably and statistically sound credit scoring system, a creditor may use an applicant's age as a predictive variable, provided that the age of the elderly applicant is not assigned a negative factor or value. With respect to an "empirically derived, demonstrably and statistically sound credit scoring system," prepare to be seriously challenged on its validity! I'll comment more about the "negative factor or value" assignation below. ...