Loans for African American Women

Dear Money Guy,

I am a young African American woman who will be thinking about purchasing a home in the very near future. I can use all the help I can get, and a family friend mentioned the possibilities of special loans for African American women. Owning my own home has been a dream of mine for years. It's there are resources available to better my chances, I'd like to know about them.

So my question is, are there any loans for African American women?

- Rhonda P.

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Hey Rhonda,

Because of laws protecting minorties, the elderly, the handicapped, etc, you can't set up loans for African American women only. And this is a good thing: a financial decision like a home loan should be based on hard numbers, and not the particular race or creed of the borrower (be it white, black, or any color in between).

If you do happen to see loan products where you need to be a particular race to qualify for it (ie. loans for African American women), I would stay far away from them because they are already violating certain laws.

So who can provide loans for African American women?

One company that I recommend is LendingTree. What they do that's different than other mortgage companies is let finance companies compete with each other to provide you with the best loan terms.

This works out great for borrowers because this competition results in loans with better rates and terms than normal.

Try them out for yourself, no obligation of course. Whether you are looking to get a new loan to purchase a house, or curious about whether you can refinance into a better loan situations, you owe to yourself to spend a few minutes at LendingTree.

You can visit them here:



Loans for American American women is just not an option. But that doesn't mean that there aren't good loan opporunities available. You just got to know where to look.

Regards,


The Money Guy