African Americans and obtaining home loan.?
A co-worker of mine stated she used to work for a bank a few years ago and saw how african americans were often discriminated against. She stated African Americans customers were always given higher interest rate as well as given a hard time for obtaining a mortgage. I went through a similar situation last year. There were 2 items on my credit report that I paid off 4 years ago and since then my credit has been good. I applied for a home loan and was told by the loan officer I was fine and she would run it by her supervisor. The next day, she called me and stated that her supervisor said I was disapproved. I asked her why and she said the bank wanted to see a longer period of time of on time payments. Honestly, I don’t believe it. I have been on my job for 8 years and have no other major debt other than students which are paid on time. Are there any other options for me because I have worked hard to clean up my credit (clean for 4 years now) and I still can’t get a home loan.