Report: Down Payment Changes Could Hobble Minority Buyers

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for sale sign spanishNearly 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.

Also see:
MLK, USA: Many King Streets Stuck on Economic Outskirts

Rental Prices Climb, Buying Remains More Affordable


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