A mortgage application could also be refuted in the event the candidate do n’t have adequate cash on advance payment or other can cost you. Money, kept for the liquid assets, might help a potential house consumer look after enough cash to fund such as for example will set you back. Nationwide, Black colored and Latino households keep a lot less wide range than simply Light households. Money actually counted regarding the HMDA dataset.
While the Contour nine shows, one of denied programs, loan providers will statement doubt Asian and you may California loans Black colored candidates because of decreased cash. 11 If you’re app characteristics explain the most the newest disparities anywhere between White applicants and you will Black and you will Latino people, they don’t explain the disparities anywhere between White and you will Asian people within all of the. Read More
