What Your Mortgage Lender Can and Can't Ask 1

What Your Mortgage Lender Can and Can’t Ask

When you’re looking for a lending solution, you may come across several questions, comments, paperwork, and effort. You have to target down a home that you like, get into a competition with other home-seekers to put a bid in, manage your finances, and then there’s your mortgage lender storming you with all sorts of questions. Here are a few tips on what they may ask, a reason behind that question, and what they probably won’t ask.

The first kind of probable question could be whether you are single, married, or divorced? It may sound absurd as it is very personal, but your lending specialist has to get your answer to this question for many reasons. If you’re married, your spouse’s income can add to your household budget and credit, ensuring you a better loan. Another case could be that your spouse is a veteran or an active military member, qualifying you for a VA loan. If you happen to be divorced, your loan specialist would want to ensure that child support, alimony, or other debts by either party are accounted for.


The second probable question could be about your age. This question can go two ways: while it is not allowed to discriminate against the borrowers based on age, one must be at least eighteen years old to get a secured loan and take full responsibility for that debt. Are you in good health? Nope! If your mortgage specialist asks you this question, find another one. The Equal Credit Opportunity Act prohibits making mortgage decisions based on health status.

A question about a number of your children could also be asked. This is another important question that your loan consultant may ask, and it is well within his or her right to do so. The next question could be if you are planning to have children? Unlike existing children, loan consultants are not allowed to ask about family planning. The next probable question could be about your ethnicity. Even though your loan specialist can ask this question, you may refrain from answering. By providing this information, you can help fight patterns of discrimination, but if you want to keep it to yourself, it is well within your rights.


If you are looking for a related service, contact ‘EXPERT MORTGAGE.’ The firm specializes in clients with bad credit and unprovable income. The company has access to OVER 400 PRIVATE LENDERS, and they can offer mortgages to clients that most other mortgage brokers can’t help. These private lenders are people like you who choose to invest in mortgages instead of the stock market. They want to make a good profit and help other people who have some credit or income issues through no fault of their own.

EXPERT MORTGAGE is one of only a handful of mortgage brokers with a FULL-TIME IN-HOUSE COMMERCIAL AND AGRICULTURAL SPECIALIST with over 15 years of commercial and agricultural expertise. The firm can help you obtain the lowest rates and best products for commercial real estate, business loans, equipment leasing, and factoring. For more information, check out their website http://expert-mortgage.ca/ or call them at 1-855-728-8585.

Ricardo L. Dominguez

Tv geek. Professional twitter buff. Incurable zombie aficionado. Bacon fanatic. Internet expert. Alcohol specialist.Fixie owner, father of 3, ukulelist, Mad Men fan and Guest speaker. Working at the fulcrum of simplicity and programing to create great work for living breathing human beings. Concept is the foundation of everything else.