Gay couples are 73 percent more likely to be denied a mortgage than heterosexual couples with the same financial worthiness, new mortgage data show. By Hamza Shaban Hamza Shaban Technology reporter Email Bio Follow April 17 at 8:51 AM Mortgage lenders are significantly more likely to deny same-sex couples a home loan and charge them more for it when they do, a new study has found.
Gay couples were 73 percent more likely to be denied a mortgage than heterosexual couples with the same financial worthiness, according to an analysis of national mortgage data from 1990 to 2015. The study, published Tuesday in the Proceedings of the National Academy of Sciences, also found that when same-sex couples were approved for a home loan, they were given inferior terms. On average, they paid 0.2 percent more in interest and fees, which adds up to as much as $86 million a year, the researchers said in a news release.
“Lenders can justify higher fees, if there is greater risk,” said Lei Gao, an assistant professor at Iowa State University’s Ivy College of Business and co-author of the study. “We found nothing to indicate that’s the case. In fact, our findings weakly suggest same-sex borrowers may perform better.”The researchers say their findings signal a need to include sexual orientation as a protected class under federal lending laws.
“Policymakers need to guarantee same-sex couples have equal access to credit,” said Hua Sun, an associate professor of finance at Ivy College of Business and the other co-author of the study. “Using our framework, credit monitoring agencies also can take steps to investigate unfair lending practices.”Mortgage applicants are not required to disclose their sexual orientation. For the study, the researchers identified same-sex couples as co-applicants of the same gender.
Any significant inflexion in the curve from 1990 to now?
Write Review of my books pls
Does the study go on to clarify. Maybe their total indebtedness is high, resulting in lower credit scores, which determine acceptance and rates. Otherwise, your statement has no validity based on expanded facts.
Wait, I thought that was a black thing? Now you are saying it is a gender thing?
My goodness it's 2019 for crying out loud!!!
WashingtonCompost, your study has never been correct. Perhaps instead of dying in darkness, you should do more investigative reporting.
I didn't realize how stupid people are! Do they think taking 💰 from gay people is going to send them to HELL or something!
People with a mental disorder have bad credit and a poor work history?
Maybe they have bad credit.
Not surprising. I'm sure a study would find similar results for the Black, Asian, etc communities as well. Under the current admin and the regime of Trump, in the future it won't be surprising if we hear those groups of citizens can no longer apply for a mortgage period.
Would love to read your article but it’s filled with spam that keeps popping up so oh well 🤷🏻♂️
cool...... now do black couples and brown couples
Smae sex coupling should be banned on every scale. Mind fking people.
Hey every heard the saying correlation does not equal causation?
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