Hispanic Home Landlords
New York, Apr 12 (EFE).-
More than 9.5 million Hispanics living in the United States currently own a home, and in 2023, the rate of Latino homebuyers reached 49.5%, according to the latest report from the National Association of Hispanic Real Estate Professionals (NAHREP).
The association noted that in 2023 there was a net increase of 377,000 Hispanic homeowners from the previous year, despite numerous challenges in the real estate market, such as rising interest rates and property prices.
NAHREP attributes this growth — nearly the highest in the last two decades — to the resilience of the Hispanic community and its strategies to overcome the current market challenges.
Among these strategies, NAHREP points to the willingness of Latinos to move to lower-cost areas, partner with other co-buyers, and utilize buyer assistance programs offered by various organizations and lenders.
“The American dream for many people in the United States is to own a home and have financial security. Living in a house that is yours is what brings happiness,” said Ruth Bastiani, a mortgage loan advisor at Chase NA.
Buyer Assistance
“Interest rates and property prices remain high. To alleviate the impact of these challenges, organizations and lenders like Chase offer various buyer assistance programs, as well as low down-payment loans,” Bastiani said.
According to the advisor, Chase provides a grant of up to $7,500 that eligible clients can use to lower the interest rate, reduce closing costs, or assist with the down payment.
This aid, known as the Chase Homebuyer Grant, is available in over 15,000 communities across the United States, including in Chicago, Las Vegas, Los Angeles, Miami, and New York, where, according to NAHREP, home prices are significantly high.
Bastiani also highlighted that Chase’s DreamMaker mortgage offers a 3% down payment option and flexible credit guidelines for eligible buyers. EFE
EFE is supported by JP Morgan Chase in producing this content.
