Native American Loan Stats

Mortgage Lending to Indians Up in 2015, Still Below National Average

Mortgage lending for Native Americans has risen in past years, “in 2015 Native Americans received $1 billion more in mortgage money in 2015 than they did in 2014.”

This leading increase is not exclusive to Native Americans though as “U.S. mortgage loans moved to $1.85 trillion from $1.4 trillion in 2014—a 32 percent increase.”

But Native Americans still received a large increase in Mortgage loans, with an increase of $1 billion for those who classified themselves as Native American. “$6 billion was extended last year to those who designated themselves Native American, up from $4.9 billion in 2014.”

However, the loan average for Native Americans is well below the national average. “First lien loans to Natives averaged $201,000, and second liens $42,000. The national averages were $261,000 for first liens and $65,000 for second mortgages and home equity loans.”

Wealthier Native Americans received the largest amount of loans, with 51 percent of loans being given to upper class Native Americans, that equates to about $3.2 Billion. Low income Native Americans only received 16 percent of loans, and middle class just 23 percent.  Lenders also charge Native Americans more than the national average, but only by about half a percent.

American Indians and Native Hawaiians Mortgages Shot Down Half the Time

http://indiancountrytodaymedianetwork.com/2016/11/27/american-indians-and-native-hawaiians-mortgages-shot-down-half-time-166563

• The Native American Indians nor the Native Hawaiians received half of the mortgages that they applied for last year. To be exact, Native Americans received 46% of the loans and the Native Hawaiians received 49.95%.
• Native Americans had 28% of their applications denied, while the Native Hawaiians had 23% of their applications denied.
• To put the percentages into a better perspective such a dollar amount, Native Hawaiians got $6.4 billion of the $12.1 billion they applied for. Native Americans received $6 billion of the $11.96 billion they requested.
• The money for Native Hawaiians was used to refinance homes rather than to purchase them. The Native Americans used more of their mortgagees to purchase homes rather than refinance them.