A new study by the real-estate firm Zillow found that nearly 20% of Black mortgage applications nationwide were denied in 2020, nearly twice the rate of white applications.
Nationwide, the study found that Black mortgage applicants were turned down 84% more than white applicants, up from 74% in 2019.
While 20.5% of Black mortgage applications were turned down in Ohio, 11.7% of white applications were denied. The study also found that 23.2% of American Indian mortgage applicants in Ohio were turned down, 11% of Asian applicants and 15.3% of Hispanic applicants.
Zillow said the findings, based on federal Home Mortgage Disclosure Act (HMDA) data, help explain the homeownership gap between Blacks and whites. According to the U.S. Census, 44% of Blacks own homes (down from a peak of 49.7% in 2004), compared with 74% of whites and 48.3%