Summary
A study showed that women applying alone for home loans are more likely to face denial than men, except in Washington, D.C., and five states. In D.C., more women apply for home loans and have a lower denial rate compared to men. The study highlights how factors like income continuity and workplace dynamics impact women's chances of getting home loans.
Key Facts
- The study analyzed 2024 data from the Home Mortgage Disclosure Act for home loans.
- Women applying alone (sole borrowers) are 30% more likely to be denied loans compared to men.
- Washington, D.C., is the only place where more women apply for home loans than men and face lower denial rates.
- In D.C., 32% of loan applicants are sole women, with an 8.1% denial rate compared to 10.1% for men.
- The states with higher male denial rates than female include Alaska, Hawaii, Vermont, Maine, and Rhode Island.
- Louisiana has the largest gender gap in denial rates, with 29% of women denied versus 18.1% of men.
- Women tend to borrow less and often secure better interest rates despite higher denial rates.
- Factors like taking breaks for caregiving and maternity leave affect women's loan approval rates due to income continuity policies.
