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Largest lenders deny home loans for Black applicants up to three times more often than whites

Marketwide, the data reveal home loan disparities spanning every income bracket.

Nate Morabito

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Owning a home is widely considered one of the most important paths to wealth, but securing a mortgage or home equity loan is far more difficult in the Charlotte market for Black borrowers, according to a WCNC Charlotte analysis of the latest federal data.

The numbers show most of Charlotte's largest lenders denied Black applicants two to three times more often than their white counterparts in 2018 and 2019.

While banks, credit unions and mortgage companies are investing their own money to try and help more people of color become homeowners, advocates, bankers and the Biden administration believe industry changes are needed to address the problem.

TAKE A LOOK: See how major banks and other lenders fare when it comes to denying Black applicants (or skip yourself to Chapter 10)