Female applicants make up just 23% of home loans in Nashville

NASHVILLE, Tenn. (WKRN) – On International Women‘s Day, News 2 is recognizing successful women in real estate.

Over the years, we have seen the economic power of women increase, with their presence in the housing market increasing alongside it. Women move on and up, and in some cases move in.

However, women are still underrepresented in the highly sought after industry.

Female-only applicants account for just over 20% of home purchase loans nationwide, according to a new report from the Inspection Support Network.

The analysis found that in the Nashville metro area, women’s share of home purchase loans is 22.7%, compared to 21.4% nationally. Here is a summary of the data for the Nashville-Davidson–Murfreesboro–Franklin, TN metropolitan area:

  • Proportion of women in loans for the purchase of a home: 22.7%
  • Total loans to women for home purchase: 7,369
  • Median loan size for female borrowers: $245,000
  • Median loan-to-value ratio for female borrowers: 88.9%
  • Median interest rate for female borrowers: 3.13%

Victoria Moghaddami, with ReMax Choice Properties and the Bernie Gallerani team, recently purchased a home for herself in the Nashville area.

“One of the best things you can do for yourself as a woman, especially as a young woman, is to invest in yourself. Let’s not rely on others to do it for us. Let’s invest in ourselves, and I tell my clients all the time, one of the best ways to invest in ourselves is to buy a house,” Moghaddami said.

Moghaddami said it’s important to invest money in your future, whether it’s your first home or your second income.

“Residential real estate investing represents a significant career and wealth-building opportunity for women and men, yet only 30% of real estate investors in the United States are women,” said Shane Steele, CMO at Sundae. , an online real estate company. “I think some of the unique challenges women face in real estate investing, frankly, are similar to what we see in other industries, which is the lack of career advancement or the lack of mentorship.”

That’s why the company is hosting two webinars to help those interested:

  • Challenges and successes: real estate investment advice
  • Women’s Day Special: Overcoming Obstacles as Women Real Estate Investors

⏩ Find more Top Stories at wkrn.com

You can find the date and time and how to register here.

About Hubert Lee

Check Also

A shortage of OB-GYNs is looming. Why are they fleeing NJ?

The young doctor wanted to pursue a career in New Jersey. Dr. Matilde Hoffman completed …