Bring More Women to the Closing Table

April 1, 1998

Women continue to get a larger portion of the homeowning pie each year, according to the U.S. Department of Housing and Urban Development.

Several factors contribute to this growth:

  • Women in divorce cases now get equal credit rating, whereas credit card companies used to assign credit histories to the husbands.
  • Mortgage companies no longer discount a woman's career stability because of potential pregnancy.
  • Financial gurus say women are more likely than men to save for a downpayment.

Still, there's room for improvement. HUD statistics show that although close to two-thirds of all U.S. households own their homes, that figure drops to one-half for households headed by women.

The homeownership rate is even lower (45 percent) for women with families and lower still (20 percent) for women under the age of 35.

To turn the tide, HUD now offers a publication--Manual for HUD Approved Housing Counseling Agencies: Homeownership Opportunities for Women Supplements--to help you market your services to potential women homebuyers and help more women get to the closing table.

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