Sections

Services

Information

UK United Kingdom

Race still a factor in US home loan approvals

Minority race loan applicants in the USA are more likely to be denied a loan than Caucasian applicants in similar financial positions.

Researchers from New York University analysed data from over eight thousand lending institutes during the housing boom of 2006 and found that race is still a significant factor in the housing market and mortgage process.

African American loan applicants were listed as the most likely to be denied, closely followed by applicants of Latin American origin.

Wealthy minorities were found to be more likely to receive subprime loans than Caucasians in the USA, but are often denied prime loans.

Read more at New York University