A lender or mortgage broker must treat all mortgage loan applications equally, regardless of the applicant's race, age, gender or martial status. Federal law protects homebuyers from discrimination when they are applying for a mortgage loan. If you suspect discrimination, contact your state Attorney General's Office. Know the law and be informed as a consumer.
* Lenders cannot reject mortgage applications because of age, race, gender, marital status, national origin, or because the applicant is on public assistance.
* Be aware that you can be asked to list your race, national origin or sex on an application. The voluntary practice enables monitoring agenices to uphold anti-discrimination laws. Creditors also can ask about immigration status to determine whether homebuyers will be in the country long enough to pay off a mortgage loan.
* Lenders are prohibited from increasing mortgage interest rates or requiring larger down payments because of race, sex, or other factors.
* Lenders cannot inquire about a homebuyer's plans to have children.
* If the home buyer meets the standards for a mortgage loan, the lender cannot require a co-signer.

About LifeTips

Now one of the top on-line publishers in the world, LifeTips offers tips to millions of monthly visitors. Our mission mission is to make your life smarter, better, faster and wiser. Expert writers earn dough for what they know. And exclusive sponsors in each niche topic help us make-it-all happen.

Ask a Question

Not finding the advice and tips you need on this Mortgages Tip Site? Request a Tip Now!

Guru Spotlight

Jennifer Mathes, Ph.D.

Ever wonder how you could make your life better and more fun? So have tens of millions of fans who have turned to LifeTips for answers over the past decade. We keep the tips, advice, books, podcasts and writing services flowing, so you can keep your life and business growing in the right direction. Upward!