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Expanding Access to Credit Could Shrink the Homeownership Race Gap


Expanding Access to Credit Could Shrink the Homeownership Race Gap
About 15% of Black and Latinx Americans are credit invisible and largely cut off from homeownership
- There is a direct correlation between credit security having a strong credit history and structural access to credit offerings and higher homeownership rates.
- Roughly one in 10 U.S. adults are considered credit invisible, with no credit history. The share is higher for Black and Latinx Americans.
- Poor or nonexistent credit history is the most-common reason mortgage applications are denied to Black applicants.
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