Ethnic and Minority Home Buyers

While our nation’s Fair Housing laws are clear about discrimination against home buyers regardless of race, creed, color, or sexual orientation, the distinctions are not as clear when dealing with lenders for a home mortgage.

Some lenders add fees, increase rates or deny mortgages for certain individuals for properties in particular neighborhoods to make it harder for minorities or certain ethnic backgrounds to get a mortgage.

According to the government-sponsored lending arms, Freddie Mac and Fannie Mae, minorities and ethnic homebuyers often are given more expensive sub-prime loans when they could have qualified for prime loan status. Sub-prime loans also often carry pre-payment penalties rarely placed on the lower-cost prime loans.

The U.S. Department of Housing and Urban Development and the Mortgage Banker’s Association of America commissioned a report that provided insights into the minority home buying experience, and that report concluded that, “the average person needs trustworthy and expert assistance in watching out for their interests throughout the home buying and mortgage application process. Not everyone can easily find a trusted and knowledgeable advisor.”

That’s where we come in.

Count on Mortgage Grader® to be your trusted partner in this exciting and sometimes confusing process. We provide equality to your mortgage application and help you get the house of your dreams. We will work with you to find ways to give you for lower-cost prime loans or other government-backed home ownership programs such as F.H.A. financing. You’ll get objective advice on your best and most flexible mortgage options, no matter what your income or credit history.

FAQs for Minority and Ethnic Homebuyers

Q. How can Mortgage Grader® help me?
A. We act as your partner to help you identify the mortgages that offer you a combination of the most flexibility and low rates. We create a summary of your income and credit history making just one inquiry into your credit report, not several (which can actually lower your credit score). We protect your identity and privacy so the lenders only see you as a balance sheet, not a home buyer who is white, African-American, Hispanic or Asian.

Q. What’s different about Mortgage Grader® and any other Internet mortgage service?
A. An Internet mortgage service might not guard your personal or financial information very well, making you a more likely target of identity theft. Mortgage Grader® works with a large number of lenders, some of the best in the industry. And, we will only divulge your personal information to the lender of your choice at your request. We don’t resell your personal information to anyone. You get options, flexibility, privacy and security by making us your partner.