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Is it harder for blacks to get a mortgage loan?
Posted on January 25th, 2011 6 comments
John asked:
I heard that if you disclose the race info on a mortgage loan application and tell them that you’re black, then youre less likely to get the loan. My friend is a mortage broker and she told me that hispanics have the best shot (I live in Florida) and next up is whites but that blacks have the worst chance.
DenisePersonal Finance Hispanics, Loan Broker, Mortage Broker, Mortgage Application, Mortgage Loan Application6 responses to “Is it harder for blacks to get a mortgage loan?”
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It is based on your credit. Ignore the race factor. A white person with terrible credit won’t get a loan while a black person with good credit will
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ray_kirmann January 30th, 2011 at 02:38
then Obama might have a problem… *** is up with USA and the freaking racism
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Please tell me you’re kidding.
Banks want to know whether you will be able to make your monthly payments – how much money you have.
Tell me your broker friend is just make believe.
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It should not be. The Fair Housing Act prohibits it. There are several ways to complain if you are discriminated against.
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Thor is a loving God Too. February 5th, 2011 at 18:27
I think banks are more concerned with your credit rating than your skin color. What kind of a backwards country do you live in where you have a “race disclosure” on an application? Just scribble that sucker out and only fill in the important info.
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Nick A January 27th, 2011 at 02:52