Differences among races when considering the number of home loan applications and approval and rejection rates exist.
When considering the ratio of applicants of home loans to the number of residents in Northwest Arkansas, white applicants are represented proportionally. According to the Home Mortgage Disclosure Act, the largest number of applicants are white. Additionally, the majority of residents in Northwest Arkansas considered themselves white.
According to 2014 Census Data, despite the fact that approximately only three percent of the Northwest Arkansas population were Asian, they received the highest home approval rate in comparison to other races. On the other hand, American Indians and Alaska Natives also noted to be a minority had the highest rejection rate.
Questions for Research
- How does the home value differ for conventional loans and federal subsidized loans?
- Does a property rental culture affect the number of applicants of home loans?
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