Racial Bias Still Insidious In Mortgage Industry. Here's How You Can Try To Beat it
Racial Bias Still Insidious In Mortgage Industry. Here's How You Can Try To Beat it

Legally, race must not be a factor in mortgage lending in the United States.

However, persistently high rates of loan denials and low rates of African American homeownership tell a different story.

A 2019 Lending Tree report revealed nearly 1 in 10 borrowers get denied a mortgage.

It also found other discrepancies by race and ethnicity.

For instance, black borrowers have the highest denial rates, at 17.4%.

Non-Hispanic white Americans have the lowest rates of denial, at 7.9%.