Consumer Mortgage Information
One of the questions I am most often asked is about mortgages. While I have screened several mortgage companies to recommend to my clients, I prefer that you are assured that the information you will recieve from me is as unbiased as possible. Below is information made available for you directly from the Federal Reserve. Please review it and call or email me for more clarification or to discuss your specific situation.
Understanding the Process
and Your Right to Fair Lending
Shop for the mortgage package that best meets your financial needs. If you apply for a mortgage and the lender says you don't qualify, keep in mind that some lenders have stricter credit standards than others. Try someone else. Don't stop shopping after one discouraging experience--or even several.
|"Just Right!" You’ve been looking at houses for months and months, and you have finally found it--the house that’s just right. Now, you’re anxious to buy your new home, move in, and get settled. But you still have an important task ahead of you--getting a mortgage loan.
This brochure explains about dealing with mortgage lenders. It tells you where to look, what to look for, and what takes place when you apply for a mortgage. Knowing what to expect, especially if you are a first-time homebuyer, may make it easier for you to get through the process.
You’ll also learn about your legal rights to fair lending and what you have a right to expect in fair treatment. The Fair Housing Act and the Equal Credit Opportunity Act make it unlawful for a lender to decide whether you qualify for a loan, or to offer less favorable terms, for reasons such as your race, national origin or sex and other prohibited factors.
If you believe you have been unlawfully discriminated against by a lender, or have questions about the treatment you have received, this brochure also tells you where to file a complaint.