Report: Down Payment Changes Could Hobble Minority Buyers
Nearly three-quarters of African-American and Latino mortgage borrowers could be excluded from affordable homeownership if federal regulators approve a proposal to require 20 percent down payments, according to a study released Wednesday.
Co-authored by the UNC Center for Community Capital and the Center for Responsible Lending, the study says that such a move would not only restrict minorities' access to homeownership but also that of roughly 60 percent of all creditworthy borrowers.
Read the full story at The Huffington Post.
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