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Solo women homebuyers are 30% more likely to be denied a mortgage than solo males, a new LendingTree study found.
Analysts say the reason for the large disparity is two-fold: sexism and women’s lower incomes.
What they’re saying:
“Women tend to have smaller incomes than men, and that can create homebuying challenges,” Matt Schulz, lendingtree chief consumer finance analyst, said in a news release.
Although income doesn’t factor into your credit score, it dose “massively” impact your debt-to-income ratio and your ability to save for a down payment, Schulz explained.
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