Black homebuyers are denied mortgages at twice the rate of overall population, new analysis shows

Black American homebuyers are far more likely to have their mortgage requests denied when compared to the overall borrower population, with even wider disparities seen in cities like Boston and Jacksonville, according to a new LendingTree analysis.

In some cities, that spread was even worse: In St. Louis, Mo., the mortgage denial rate for Black homebuyers was 20.73%, compared to the overall purchase mortgage denial rate of 7.33%, the worst gap LendingTree observed. Indeed, for generations, Black Americans have found it difficult — if not impossible — to get money to buy a home, often by design. That has contributed to a yawning racial wealth gap.

While the 1968 Fair Housing Act outlawed the practice of redlining, other housing disparities that deny Black people their full ability to build wealth persist to this day: Homes in Black neighborhoods tend to have lower property values, yet their owners have routinely experienced greater tax burdens, for example.

I know that’s true.

A new analysis shows that this is a giant pile crap.

I recently read a study which says it will take 200 years for black family wealth to catch up with white wealth..2 centuries!

Do they have good credit?

They could buy estates in Africa w/ those dollars. And then uplift a continent into prosperity & peace. Seems like a very BLM thing to do, if we're being honest.

There are very well established factors other than racism. Delete your account.

will it ever end? my god

The needless race-baiting is unreal.

why doesn't Biden forgive black homeowner's mortgage loans?

I have 3. Oregon, Auburn, & ATL. Not true

Because they have worst credit, it’s not a racist thing but a numbers thing, nobody on the phone says “hey i’m black and applying for a mortgage” you never are asked your race lol

It's an economic thing tied to disparity in incomes...not rejections based on racism. This will take generations to correct and changes in communities.

Black, white, orange, green or yellow - if you dont qualify for a mortgage you simply dont qualify not because of your skin color! Sick and tired of these racist articles.

What is the average free credit score? I think you’re leaving some info out.

What’s the reasoning though? It’s not because they’re black. Should we give anybody a loan then let 2008 happen again?

Smh

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