In June, the Supreme Court confirmed that the Civil Rights Act applies to sexual orientation. Americans now don’t have to worry about losing their jobs for simply being who they are. That ruling, however, didn’t address other areas of prejudice — including the discrimination LGBTQ homebuyers face in the mortgage industry.
“There are more than 35 states where it is perfectly legal for a bank or credit union officer to say, ‘We do not loan money to your kind,’” says Justin Nelson, Co-Founder and President of the National LGBT Chamber of Commerce. According to a study based on two decades of mortgage data from Iowa State University’s Ivy College of Business, same-sex couples are 73% more likely to be denied a mortgage. And those who are approved are charged noticeably higher fees.
Though there are no federal protections for LGBTQ homebuyers, there are steps you can take to fight back and expose unfair lending practices. Learn more by clicking here: LGBTQ Mortgage Discrimination