US Home Improvement Mortgage Loan Application Denials By Race and Ethnicity in 2024
According to data from US Home Mortgage Disclosure Act (HMDA), in 2024, out of 1,204,362 Home Improvement Mortgage Loan Applications, 380,061 were denied (i.e. 31.56%).
By Race: The White racial group had the highest percentage of the home improvement mortgage loan application denials (61.86%), followed by Not Specified (14.52%), and Black or African American (14.16%).
By Ethnicity: The Non-Hispanic White ethnicity group had 49.16% of the home improvement mortgage loan application denials, and Hispanic or Latino ethnicity group had 16.30% of the home improvement mortgage loan application denials.
The charts below shows the percentage of the home improvement mortgage loan application denials by race and ethnicity; and the tables below shows the number and percentages by race and ethnicity.
| Race | Number of Denials | Percent of Total (%) |
|---|---|---|
| White | 235099 | 61.86 |
| Not Specified | 55194 | 14.52 |
| Black or African American | 53816 | 14.16 |
| Two or More Races | 18424 | 4.85 |
| Asian | 10485 | 2.76 |
| American Indian or Alaska Native | 3373 | 0.89 |
| Other Race | 1675 | 0.44 |
| Native Hawaiian or Other Pacific Islander | 1444 | 0.38 |
| Ethnicity | Number of Denials | Percent of Total (%) |
|---|---|---|
| Non-Hispanic White | 186818 | 49.16 |
| Hispanic or Latino | 61941 | 16.30 |
