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Mortgage Home Issues: Your Rights
from:Consumers have rights when it comes to their mortgage home endeavors. Federal law assures that every potential homebuyer is protected from discrimination on the basis of sex, race, national origin, age, marital status, color and religion. Those who receive public assistance funds, those who are handicapped and people with children under the age of eighteen should be treated with the same consideration as any other customer.
Consumer credit protection Laws are designed to ensure that everyone receives equal treatment and service in the for a mortgage home loan. A lender can not take any of the above listed factors into consideration when deciding on whether or not to approve the application. These factors have no direct bearing on your ability to acquire financing for your property.
Requirements of Mortgage Home Loan Officials
The representative should not take your race, sex or age along with any of the above mentioned issues into account in your dealings. The numbers speak for themselves. This professional should remain completely objective and focus solely on your credit history, the appraisal, your work history and the amount of the loan.
Any subjective speculation has no place in this type of dealing. For example, a loan officer is disobeying federal law if she states that a single woman with two children can’t possibly buy a new home. This is pure speculation that has no real basis.
Your experience with the lending institution should be the same as any other applicants. You can expect to be willingly given an application upon request. No one should discourage you from applying. Also, you should be given any pertinent information that you require in the application process.
The lender’s representative should be willing to discuss your options when it comes to their mortgage home loans. The information should be quite involved and you should have an idea of which product might serve your specific needs. You should also have a clear understanding of the qualifications for the loan during this phase.
If you decide to pursue the home mortgage loan further, you have every right to fill out the application and present it to the lending institution. You can expect to provide information pertaining to your finances including your savings, salary and credit history. You can also expect to provide written proof of these subjects.
The lender also needs to see an appraisal for the value of the property. This is a necessary step in the process. Once your paperwork is in order, including the amount requested for the loan, the company has to provide a timely decision regarding your application.
Home Mortgage Rate Specific links
Home Mortgage Rate News
Mortgage Rates: Low Mortgage Rates Spark Increase in New Home Sales - FreeRateUpdate.com
 Eastern Morning Herald | Mortgage Rates: Low Mortgage Rates Spark Increase in New Home Sales FreeRateUpdate.com Current low mortgage rates remain stable and have helped spark an increase of 3.3% in new home sales for the month of April, according to the Commerce Department and the Department of Housing and Urban Development. This is 9.9% above the estimates for ... HSH.com Weekly Mortgage Rates Radar: Fixed Mortgage Rates at New Record Low Again Mortgage applications up on refi demand: MBA Current Mortgage Rates: US Bank, Fifth Third Bank and BB&T Home Purchase Rates ... |
Relief for home owners as mortgage rates stay at record low - Evening Standard
 Evening Standard | Relief for home owners as mortgage rates stay at record low Evening Standard The Monetary Policy Committee (MPC) was unanimously in favour of holding interest rates at a record low of 0.5% this month while only one member, David Miles, voted in favour of increasing the Bank's quantitative easing programme from its level of £325 ... Eurozone crisis means tough times ahead: BoE |
New-Home Sales Rise - New York Times
 The Star-Ledger - NJ.com | New-Home Sales Rise New York Times Sales of new homes in the United States increased 3.3 percent in April to a seasonally adjusted annual rate of 343000, the Commerce Department said Wednesday, and the rise was latest signal that the housing market was steadily improving. New US home sales climb to 3.3 percent, above forecast US sales of new homes rose 3.3 percent in April Purchases of New Homes in U.S. Rose More Than Forecast in April |
Investors Help Lift Home Demand, But Not Prices - Wall Street Journal (blog)
 The Fiscal Times | Investors Help Lift Home Demand, But Not Prices Wall Street Journal (blog) By Kathleen Madigan Demand for housing continues to show signs of stabilizing, as evidenced by the gain in sales of existing and new homes in April. Cheap mortgage rates, some loosening of credit conditions and better job growth are pulling buyers into ... Consumers, Not Just Investors, Are House Hunting |
30-Year Mortgage Rates at New Record Lows, Regent Property Group Continues to ... - San Francisco Chronicle (press release)
30-Year Mortgage Rates at New Record Lows, Regent Property Group Continues to ... San Francisco Chronicle (press release) With home mortgage rates at historically low levels and housing supply tightening, the Austin, Texas real estate market is proving opportune for buyers and sellers in both the median price range and the Austin luxury home market. |