Research conducted inData Journalism class at the University of Arkansas combining conventional and FHA, FSA/RHS, AND VA HOME-PURCHASE LOANS show that minority groups hardly apply for home loans. The groups studied were AMERICAN INDIAN/ALASKA NATIVE, ASIAN, BLACK OR AFRICAN AMERICAN, NATIVE HAWAIIAN/OTHER PACIFIC ISLANDER, and WHITE for this research. There were a total of 9,761 applications in Northwest Arkansas in 2015. The vast majority of them being white applicants.
Home buying in Northwest Arkansas statistical data shows that minority applicants are very few in number, despite some minority groups having similar approval rates as white in the area. American Indian/Alaska Native had the lowest acceptance rate at 53%. All other groups including whites had similar acceptance rates.
Although white applicants had similar acceptance rates as minority data shows that there are a large number of white applicants are being denied loans. It also shows that minorities even though much lower in the population count are rarely applying for any of the type of loans available. R
The numbers are quit different when combing conventional and Government Assisted loans. Why is that?
Why are more people rejected for government assisted loans?
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