Where The Best Jumbo Loan Is Available African American Women
African American women play a very important role in the American economy nowadays
, getting more and more involved in the industrial and overall business world. Some of them are successful and influential entrepreneurs, venturing into several sectors such administration, management, PR and engineering. This fact has increased their capability to ask and take loans of all kinds, either for business or personal purposes such as jumbo loans.African American women who wish to acquire a capital for a house purchase or financing for their business can now turn to several places where the best jumbo loan is available.
First of all there are many organizations, both local and international, that foster the personal and business development of African American women, granting loans with normal jumbo rate or longer payoff time. It is relatively easy to find these organizations in the US, mostly because they are all available online and because there are valuable pieces of information in local authorities and public offices.
The Government and the public sector run many projects and programs that aim to the financial help of African American women, providing grants and jumbo loans to women who have either been born in the US or immigrated there and have been legally settled for some years. The disadvantage of these loans and projects though is that they are relatively limited which means that whoever is interested needs to apply early, as soon as the target date and period start running.
Financial Institutions also give great numbers of loans to African American women, appreciating their growing participation and presence to the local economy. It is known that women become excellent professionals and have usually better credit scores than men, a fact that permits the banks to close larger amounts of loans to them.
This is the bright side though of loans given to African American women, because recent studies run by the Consumer Federation of America as well as the National Community Reinvestment Coalition prove that African American women get their loans with highly unfavorable terms from the banks and the financial institutions.
Numbers dont lie and what they say is that women of African American descent take mortgages and all kinds of loans with higher interest in a 32%, while most of them have bigger incomes than men . 50% of men who ask for the same loans have either worst credit scores or lower income but get the loans with lower interests. Women pay averagely 7-9% of interest rate in mortgages while men 5-6%. This is a drain that stigmatizes the black women, raising questions on the real reasons for this discrimination.
The current crisis in the financial institutions has affected African American women more than any other category, even though most of them meet effectively the requirements set by the banks. The subprime crisis in loans is significantly and disproportionally damaging black women, forcing many Consumer Federations in the US as well as advocacy groups to protest and defend the right of African American women to enjoy equal terms as men and white people, especially when are more qualified .
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