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A poor property appraisal can affect your mortgage loan application. In fact, this could be the reason your mortgage loan is denied. If this happens, get a copy of the property appraisal from the lender or mortgage broker. Make sure that the information in the appraisal is accurate.
An appraiser, by law, cannot consider racial composition of a neighborhood as a factor in his or her report. Likewise, a lender cannot raise mortgage interest rates because of the racial composition of a neighborhood when you are buying a home.