HOME LOAN APPROVALS
This chart shows the share of home loan applications approved in Birmingham. Studies show white applicants are more likely to get a loan than Black, Latino or Hispanic applicants even when income, debt, credit scores and other factors are similar. Researchers also found white families get lower interest rates, higher appraisals and better loan terms than buyers who are Black, Latino or Hispanic, resulting in lower mortgage payments. We considered a gap of more than five percentage points inequity.