Did you know that it is significantly harder for single women to secure a home than it is for single men? Let me paint you a picture....
There are far more households led by single mothers compared to single fathers (6 million more to be exact). This means it is more difficult for women to maintain employment due to care-giving responsibilities. Now let's add in the fact that women are paid less than their male counterparts (79 cents to the dollar, even less for women of color). These factors, along with many others not listed, lead to a higher debt-to-loan ratio and worse credit profiles for women.
Fast forward to a woman-led family trying to beat to odds and purchase a home. Unfortunately, women are denied mortgages at a higher rate than men- despite better payment performance. When women are awarded a mortgage, their interest rates are significantly higher compared to men due to their worse credit profiles.
All of this is worse for women of color!
But I'm doing something about it, one nail at a time!! I'm working with Habitat for Humanity and building a house for a deserving woman-led family and I couldn't be more proud!
This house will be completely funded by donates we receive! So help me reach my goal and help a deserving family gain housing stability. Every bit helps and I appreciate any support you can give!
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