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 ...
Search our library of answers
Showing results for “discrimination”
Can a lender ask about your children or dependents when applying for a mortgage or home equity loan?
A creditor such as a lender may ask about the number and ages of your dependents. A lender may also ask about dependent-related financial obligations or expenses. However, a lender may do so only if the creditor asks for this ...
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. Like any other income, a lender or broker may consider whether your public assistance income is likely to continue. If your income ...
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, ...