Black borrowers experience twice as many mortgage denials as the general population, according to a report

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Last Updated on August 28, 2022 by Bitfinsider

One of the most important methods to amass wealth is to own a property. According to a recent LendingTree survey, however, that can be a challenging milestone for Black aspirants to achieve.

The mortgage denial rate for Black homebuyers in the major 50 metro regions in the US is twice that of the general borrower population, according to research from the online loan market company.

In comparison to a 9% rejection rate for the general population, 18% of Black borrowers who apply for a mortgage are typically turned down.

LendingTree discovered that St. Louis had the largest difference in mortgage denial rates for Black borrowers compared to the general population, with a rate for Blacks of 20.73% vs 7.33% for the general population, a difference of 13.40 percentage points.

With a difference of 13.34 percentage points between the mortgage denial rates for Blacks and the general population, Boston and Jacksonville, Florida, tied for second place. Black homebuyers made up 20.85% of Boston’s market as opposed to 7.51% there, while in Jacksonville it was 25.01% as opposed to 11.67%.

Three West Coast cities—Seattle, San Francisco, and Sacramento, California—performed best for Black homebuyers.

First place went to San Francisco, where the difference between Blacks and the general population was just 2.35 percentage points (11.79% versus 9.44%, respectively).

Next came Sacramento, where 13.12% compared to 8.48% nationwide, a difference of 4.64 percentage points. The third-place finisher was Seattle, with a difference of 4.83 percentage points (12.74% vs. 7.91%).


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Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

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