A shocking new study has found that people from the black and Hispanic communities are denied mortgages at more than twice the rate of whites and Asians. The study by online real estate database Zillow found that white people who apply for a conventional mortgage are denied just over 10 percent of the time and Asians 13.3 percent.
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Mortgage loans are denied at the lowest rate in the past 20 years, but a stark divide remains between potential home buyers of different racial groups, according to online real estate firm Zillow.
A new study says that black and Hispanic homebuyers were 2.4 times more likely to receive subprime loans than their white counterparts, even though they qualified for less risky loans. Because of.
Zillow, "Black Applicants More Than Twice as Likely as Whites to be Denied Home Loans," Feb. 9, 2015. Zillow, Black and Hispanic homeowners denied mortgages more often;.
Why most black Sacramentans still can't buy a home eight years after Great. By comparison, 62 percent of whites and 43 percent of Hispanics in the. $250,000 today, according to real estate tracking firm Zillow.com.. After applying, local blacks were denied home loans about 40 percent more often than.
The reasons for this are not solely practices of the recent past, such as redlining. Today, home loans are consistently more expensive for black and Hispanic buyers than they are for white buyers.
MINNEAPOLIS – A new report done by Zillow. mortgage applicants were denied at more than twice the rate of whites, a gap that’s widened since the ’90s. Zillow’s research, published in April, found.
The disparity was even more pronounced. according to Zillow. In 2007, 36 percent of black households owned their home, compared to 50 percent of Hispanic, 59 percent of Asian and 69 percent of.
Additionally, data from the federal Home Mortgage Disclosure Act shows that black borrowers are denied for conventional home loans 2.5 times more often than white borrowers.4 Moreover, this data shows that even though black and Hispanic communities represent a sizable and growing portion of the population, they represent a
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Zillow Nov 03, 2016, 08:00 ET. SEATTLE, Nov. 3, 2016 /PRNewswire/ – White and Asian borrowers are more likely to be approved for a conventional loan than black or Hispanic borrowers, according to the latest federally released data from the Home Mortgage disclosure act (hmda).