Many home buyers struggle to get approved for a mortgage

Despite the availability of billions of dollars in lending from institutions like the federal home loan banks, many home buyers still face difficulties in obtaining a mortgage. Home buyers across the country, including in rural areas like Mississippi, experience challenges in accessing traditional banking services and building credit history, hindering their ability to qualify for loans. Credit scores, an important factor considered by banks, are influenced by factors such as access to banking products and credit cards. Community lenders like Hope Credit Union and Truecore have emerged as alternatives, providing personalized support and assistance to home buyers, especially in low-income and black communities.