City Report: The Bronx Has Highest Rate of Home Loan Denials

The South Bronx real estate market may be heating up, but the residents have a tougher time getting home loans than residents of any other borough, according to a new city report.

Approximately 30 percent of all home loan applications were denied in The Bronx, an amount well above New York’s denial rate of 23 percent and almost twice as high as Manhattan’s 17 percent, according to a new report from the Department of Finance examining banking needs throughout New York City.

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