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Which of these are factors lenders can legally consider? Select "Factor" or "Not Factor" for each option.

1. Being debt free for four years
- Factor
- Not Factor

2. Owning a used van
- Factor
- Not Factor

3. Having the same job for the last two years
- Factor
- Not Factor

4. His marital status
- Factor
- Not Factor

5. His race or national origin
- Factor
- Not Factor

6. Having an emergency fund
- Factor
- Not Factor

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Sagot :

GinnyAnsweridn

Final answer:

Lenders consider credit history, employment stability, and financial stability as factors but cannot consider marital status, race, or national origin. An emergency fund may be a positive factor for lenders.


Explanation:

Factors lenders can legally consider include the borrower's credit history, employment stability, and financial stability. These are crucial in assessing the borrower's ability to repay loans.

On the other hand, non-factors that lenders cannot consider legally are the borrower's marital status, race, or national origin. These criteria are discriminatory and are prohibited in credit decisions.

Having an emergency fund can be a factor considered by lenders as it demonstrates the borrower's financial responsibility and readiness to handle unexpected expenses.


Learn more about factors in credit decision here:

https://brainly.com/question/28541372


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