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What is risk-based pricing?

Risk-based pricing is when a lender offers you less favorable loan terms, such as a higher interest rate. The lender decides this based on information in your credit report or application. Lenders often charge higher interest rates to people they ...

I want to apply for a mortgage or home equity loan. Can a lender or broker ask me about my children or dependents?

A creditor such as a lender or broker may ask about the number and ages of your dependents. A lender or broker may also ask about dependent-related financial obligations or expenses. None However, a lender or broker may do so ...

Can a lender or broker consider my sex or marital status when deciding whether to give me a mortgage or home equity loan?

A creditor such as a lender or broker cannot discriminate on the basis of sex (including sexual orientation and gender identity) or marital status. With respect to most mortgage transactions, a lender or broker may ask for your sex, but ...

Can a lender or broker consider whether I receive income from a public assistance program when deciding whether to give me a mortgage or home equity loan?

A creditor such as a lender or broker cannot discriminate against you because you receive public assistance income. None Like any other income, a lender or broker may consider whether your public assistance income is likely to continue. If your ...

Can a lender consider my race, color, religion, or sex?

Generally, when you apply for a loan, a lender cannot base their decision on your race, color, religion, or sex (including sexual orientation and gender identity). This applies to most lenders, including companies that offer auto loans, student loans, ...