Study finds minority homebuyers pay more for FHA loans
Two organizations call for investigation
Home for sale (Justin Sullivan/Getty Images)
Posted: 11/10/2010
Baltimore, Md. - A new study finds that African American homebuyers and buyers in low income neighborhoods pay higher rates for FHA loans.
The study by Communities United found that in 2008 African Americans and Latinos were twice as likely as whites to get a high-cost loan when buying a house with a FHA mortgage.
Communities United and Greater Baltimore Urban League are calling for an investigation.
The Urban League also wants to meet with local banks to help deal with this issue.
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