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from the Federal Reserve: Understanding the Process and Your Right to Fair Lending
Shop for the mortgage package that best meets your fianacial 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.
- Where to Shop and What to Look For
- The Mortgage Application Process
- Understanding Your Rights to Fair Lending
- Directory of Federal Agencies
- What is a home equity line?
- What should you look for?
- How will you repay your home equity plan?
- Lines of credit vs. traditional second mortgage loans
- Disclosures from lenders
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Featured Property Listing
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wow! -
$325,000
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This 2 level attached home built in 1985 has 2 bedroom(s), 2 bath(s)
and approximately 878 square feet of living area. Rooms include formal
dining room. Features include private pool, private spa, air
conditioning.
... Read more...
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Featured Agent
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Pedro " Pietro" Lazo
Roman Realtors LA Branch
Thank you for taking the time to browse our web and I guess I'm thanking you in advance for opportunity to serve you in your Real Estate needs in the near future. With your credibility and our profesional service there's no way to fail.
Thanks.
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