Women pay more for mortgages in 49 US states —here are the 15 states where the disparity is the worst

alabama 2021Barry Winiker/Getty Images

Summary List Placement

Even in 2021, women pay more for mortgages than men when they buy a house

Mortgage comparison site Own Up analyzed Home Mortgage Disclosure Act data and found that women pay more for mortgages in 49 US states.

Own Up calculated typical interest rates for men and women and found the spread of rates offered to both men and women for a $354,000, 30-year fixed mortgage loan. That spread value was then added to the prime rate, or the best interest rate a bank can offer.

The difference between what a single man and a single woman would pay over the full term of the loan varied widely, with the biggest difference at over $7,000 in Mississippi. There's only one state where women don't pay more: Alaska. 

Here are the 15 states where women pay the most for mortgages.

 

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15. MissouriShutterstock

Women in Missouri will pay about $4,600 more than their single male counterparts. 

Women's interest rate: 3.40%

Men's interest rate: 3.34%

Difference in interest paid over the mortgage's term: $4,654



14. IndianaPhoto by Scott Dunn/Getty Images

Indiana women also pay more for mortgages. 

Women's interest rate: 3.47%

Men's interest rate: 3.41%

Difference in interest paid over the mortgage's term: $4,676



13. MichiganRaymond Malkemes/Getty Images

Michigan women will pay closer to $4,700 more for a home than men in the state.

Women's interest rate: 3.51%

Men's interest rate: 3.44%

Difference in interest paid over the mortgage's term: $4,687



12. South CarolinaJeffrey Greenberg/Universal Images Group via Getty Images

Homes in South Carolina cost women 0.06% more than men, but that difference adds up.

Women's interest rate:  3.39%

Men's interest rate: 3.33%

Difference in interest paid over the mortgage's term: $4,721



11. ConnecticutGetty Images/DenisTangneyJr

Connecticut has the biggest gender discrepancy between interest rates of all the New England states.

Women's interest rate: 3.27%

Men's interest rate: 3.20%

Difference in interest paid over the mortgage's term: $4,822



See the rest of the story at Business Insider

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