Is Buying A Home Easier If You're White. (income, banks, work)

[TriMT7]

Originally Posted by Opin_Yunated

Que conservative denial about not wanting black families to move into their neighborhood.

This has been going on for decades.

I'm sure there are plenty of people who don't want "others" living near them.


But what does that have to do with the OP?


It was a sloppy article with a failed premise and it attempts to create a correlation/causation that really isn't there.

[WestCobb]

Uh yes, yes it is. What's the next question? Does being black make it harder to deal with cops?

[SandyJet]

Originally Posted by dorado0359

According to this article it is:

Buying a home is easier if you're white - Feb. 9, 2015

The article also points out that the home ownership rate for blacks and whites are the same as 1900, which is a little hard to believe.

Buying Chinese food is easier if you are Chinese, who cares

[MJJersey]

Buying a house is easier if you have money and good credit.

[Volobjectitarian]

Originally Posted by Opin_Yunated

Que conservative denial about not wanting black families to move into their neighborhood.

This has been going on for decades.

Actually, queue inconvenient facts about credit scores broken down by race and the dismissal and ignoring of same, which minorities and their cult of Victimology have been doing for decades.

[Quick Enough]

Originally Posted by dorado0359

According to this article it is:

Buying a home is easier if you're white - Feb. 9, 2015

The article also points out that the home ownership rate for blacks and whites are the same as 1900, which is a little hard to believe.

I think the article address it's own headline.

"The study found that white people who apply for a conventional mortgage are denied just over 10% of the time. By contrast, blacks who apply for the same loans are denied nearly 28% of the time, while Hispanics are denied 22% of the time.



Zillow said that one reason is that whites tend to make more money than blacks and Hispanics do, which makes qualifying for a loan much easier. Zillow's chief economist Stan Humphries said white applicants make roughly $20,000 more per year than comparable black and Hispanic borrowers on regular mortgages."

ANYBODY can apply but, in order to get the loan you have to QUALIFY financially.

[Orlandochuck1]

If you qualify for the loan, you're not getting turned down because of your race. Banks are in business to make money.

[KathrynAragon]

Originally Posted by Orlandochuck1

If you qualify for the loan, you're not getting turned down because of your race. Banks are in business to make money.

Bingo.

[whogo]

When I was a realtor I often turned in the loan application to the mortgage company. They did not even know the race of John Smith.

Mortgage companies discriminate against people with lower credit scores, less wealth and a weaker job history. Gee, I wonder why?

[desertdetroiter]

Truth be told, buying a house right now can be very difficult for anyone because the rules for borrowing have been stiffened...and banks are unyielding.

My wife and I are in the process of helping my son purchase a house. We gave him a rather large gift as a down payment, but the bank rejected it once they found out that it wasn't money he'd earned himself, but a gift from family.

I'd never heard of such a thing. He can still put the money down, but it doesn't count as part of HIS income...and the loan application must stay that it's gifted money.

So my wife and I have to cosign for the home...major headache.

Mortgage lenders aren't making it easy for anyone regardless of race.