According to federal fair lending laws, which fact cannot be considered when qualifying an applicant for a loan?

The correct answer is that the fact about a female applicant being four months pregnant and the potential impact on her employment status cannot be considered when qualifying an applicant for a loan. This is because federal fair lending laws, such as the Equal Credit Opportunity Act (ECOA), prohibit discrimination based on sex, pregnancy, or any related condition. Evaluating a loan application based on an applicant's pregnancy status or assumptions about future employment is considered discriminatory and therefore illegal.

In contrast, the other options involve considerations that may directly relate to a borrower's creditworthiness or financial stability. An applicant's work history as reflected in a credit report or their financial situation, such as late payments or insufficient funds for a down payment, are valid factors that lenders may evaluate to assess risk and capability to repay a loan, as they pertain to the applicant’s financial behavior and not personal characteristics.

Thus, the fact regarding the pregnant applicant's potential future employment is the only one that cannot be lawfully factored into the loan qualifying process per federal fair lending laws.