Summary
A new report from LendingTree reveals that single women are nearly 30 percent more likely to be denied a mortgage compared to single men. This disparity is attributed to factors such as lower average earnings for women and differences in debt-to-income ratios. The report also highlights that single men tend to pay more monthly on mortgages than single women across states.
Key Facts
- Single women are 29.8% more likely to be denied a mortgage than single men.
- In Washington, D.C., single women applicants exceeded men at 32% compared to 29.2% men.
- Louisiana showed the largest rejection gap with women denied 29% of the time compared to 18.1% of men.
- Single men generally pay higher monthly mortgage payments than single women in every state.
- Men held $328.7 billion in mortgage debt in 2024, compared to $173.3 billion for women.
- The difference in mortgage approval rates is linked to lower earnings for women and shorter credit histories.
- Debt-to-income ratio plays a critical role in mortgage approval, where women tend to be disadvantaged due to earning less.
- Inequality in mortgage approval is seen as part of broader gender and economic issues.
