Generally, a creditor such as a lender or broker must evaluate married and unmarried applicants by the same standards. None A lender or broker may not treat married joint applicants differently from unmarried joint applicants based on the existence, ...
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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 ...
Yes, if the payments are likely to be consistently made. None A creditor such as a lender or broker can consider the amount of such income and likelihood that it will continue, as with all other forms of income. In ...
If you are applying for individual credit in your own name, a creditor such as a lender or broker may not deny you credit because of your marital status. If you are creditworthy, you may get your own mortgage or ...
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 ...
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 ...
Generally, a creditor such as a lender or broker cannot use your age to make credit decisions. None However, there are exceptions to this rule. For example, age can be considered in a valid credit scoring system. Even then, the ...
What is the difference between a Home Equity Loan and a Home Equity Line of Credit?
With a home equity loan, you receive the money you are borrowing in a lump sum payment and you usually have a fixed interest rate. With a home equity line of credit (HELOC), you have the ability to borrow or ...
A home equity loan (sometimes called a HEL) allows you to borrow money using the equity in your home as collateral. Equity is the amount your property is currently worth, minus the amount of any existing mortgage on your property. ...
What is a second mortgage loan or "junior-lien"?
A second mortgage or junior-lien is a loan you take out using your house as collateral while you still have another loan secured by your house. None Home equity loans and home equity lines of credit (HELOCs) are common examples ...