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“Some feel it is Easier for a Man to get a Mortgage than a Woman”

By
Mortgage and Lending with Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 NMLS # 6869

“Some feel it is Easier for a Man to get a Mortgage than a Woman”

 

 

I was recently interviewed for a Ken Harney article that he wrote. https://www.washingtonpost.com/realestate/single-women-pay-mortgages-more-faithfully-than-men-yet-they-are-charged-more/2016/09/07/ce41bc02-744d-11e6-8149-b8d05321db62_story.html

 

The basic topic was single women compared to single men purchasing a home. In my mortgage practice I track everything, so I let Ken know that 26% of my business is single women purchasing homes compared to just under 20% for men.

 

As a result of his article, I got this inquiry from a single gal that wants to refinance the home she purchased earlier this year. Her email indicated that she believed that she had to go through more hoops than if she was a man buying a home.

 

I thanked her for the email and asked how she got my contact information:

 

Saturday Real Estate section in the Washington Post.  I am a single woman with a great salary, a pension and a low debt/income ratio.  I bought in March and felt like I was having to provide info that men with my numbers might not have to provide.  Looking to lower my interest rate and pay down principle- a bit.  Thanks

 

I sure do hope she is not accurate, but promised her she would have a great refinance experience.

 

 Image courtesy of MastIsolted/freedigitalphotos.net

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Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

110 Main St.

Manchester, Ct. 06042

Office: 860 647-7701 x116

Fax: 860 647-8940

Cell: 860 836-9294

Email: joe@righttracfg.com

www.righttracfg.com

www.joepetrowsky.com

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Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

Equal Housing Statement: We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing becuase of race, color, religion, sex, handicap, familial status, or national origin.

Comments (10)

Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

She is lucky that she contacted you. I m sure you will do a great job for her.

Oct 02, 2016 10:21 PM
Kristin Johnston - REALTOR®
RE/MAX Platinum - Waukesha, WI
Giving Back With Each Home Sold!

I agree with Gita and I hope she finds it is all equal, but who knows

Oct 02, 2016 10:28 PM
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

By far my single women business outweigh single men as well.  And I got my mortgage easily as a single woman before Donald and I were married.  Heck I'm married, but I'm the only one on my business loan now... It's all about credit and income.

Oct 02, 2016 10:29 PM
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

The real question Joe Petrowsky  is...is it really harder ?  

Oct 02, 2016 10:37 PM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good for you for being interviewed and for receiving an inquiry from a single woman to refinance. Many single woman are purchasing a home..they see the benefits of home ownership over renting.

Oct 02, 2016 10:38 PM
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Joe and Happy New Year. I have felt this way too but know you are the captain of integrity and business.

Oct 03, 2016 12:52 AM
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

Joe, there are all kinds of things we would never see or know about that take place behind the scenes. I hope she is not right about that too. 

Oct 03, 2016 02:54 AM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Joe I don't know where these assumptions come from.  The guidelines are clear and anyone who meets the guidelines whether they be male or female, young or old, black or white and every color in between has the SAME opportunity to get a mortgage.

Oct 03, 2016 09:21 AM
Lisa Von Domek
Lisa Von Domek Team - Dallas, TX
....Experience Isn't Expensive.... It's Priceless!

An interesting perspective Joe Petrowsky and I hope that your tracking numbers hold true for the industry overall.

Oct 03, 2016 08:49 PM
Hella M. Rothwell, Broker/Realtor®
Carmel by the Sea, CA
Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea

It certainly used to be like that way back when, when I purchased my first home as a single mom. I remember asking them (the bank) what I needed to get a loan, and they wouldn't tell me. They wanted to see MY information first. Didn't work for me so I brought my (male) lawyer to the bank to ask my questions. That worked, and I got my loan.

Oct 19, 2016 11:15 PM