Paying More for the American Dream: A Multi-State Analysis of Higher-Cost Home Purchase Lending

Jim Campen, Saara Nafici, Adam Rust, Geoff Smith, Kevin Stein, and Barbara van Kerkhove

This report demonstrates that African-American and Latino borrowers are paying more than their white counterparts for home purchase loans in six geographic areas:  Boston, Charlotte, Chicago, Los Angeles, New York, and Rochester.  This review of federal lending data shows dramatic disparities.  For example, in New York, African-American borrowers were five times more likely to receive higher-cost home purchase loans than were white borrowers.