Black Americans Still Face Obstacles In Obtaining Credit, Mortgage Loans
Black Americans are more likely to be rejected for a home loan than the overall population of homebuyers – for both purchase and refinance mortgages.
Read the full article from International Business Times, here.
“Black Americans are denied access to credit far more than their white counterparts, according to a recent report from LendingTree (TREE), the online lending marketplace. Specifically, regardless of income levels, in 2019, Black adults were denied credit – including credit cards, higher credit card limits, mortgages, refinancing, student loans, personal loans – 44% of the time (versus 19% for whites). Put another way, Blacks were denied or approved for less than the amount requested 57% of the time versus 24% for whites.”