Fair Lending Practices

Lenders may ask for personal and financial information on which to base your loan. However, federal law prohibits lenders and protects homebuyers from discrimination based on sex, race, color, national origin, age, marital status, handicap, receipt of public assistance or familial status (such as having children under 18 years of age).

If a lender discourages a mortgage loan or asks for this information, know that you are protected and deserve fair credit terms based on the Equal Credit Opportunity Act. Under these laws, an applicant cannot be refused a loan, charged more for a loan or offered less favorable terms than others with equal standings based on the above characteristics.

It is always a good idea to shop around and gain quotes from several lenders. Mortgage Investors of Tennessee helps home buyers save time and money by simplifying the information gathering process. As an online service, Mortgage Investors of Tennessee offers potential home buyers greater protection from unfair and unlawful discrimination based on sex, gender, age, disability, etc.

Comparison shopping will not only educate you regarding interest rates available and the closing costs associated with a home mortgage, but can help build your confidence for making the right decision regarding a home mortgage loan that will affect you and your family for years to come.

Mortgage Investors of Tennessee makes it easy to help you compare offers. The process is fast, free and with no obligation.