Several real estate organizations have launched a new initiative designed to expand home-ownership opportunities for Latino families in California.

The initiative is an effort by Freddie Mac, the California Association of Realtors, Chase Home Finance, the National Association of Hispanic Real Estate Professionals and the League of United Latin American Citizens, with assistance from the California Housing Finance Agency. The initiative aims to increase real estate professionals’ understanding of how to reach and serve the Latino homebuyer and to help Latinos learn about home-buyer assistance programs that are offered through city, county and state housing agencies.

One component of the initiative is a new course, “Effectively Serving the Latino Homebuyer,” developed by Freddie Mac and Chase Home Finance. The course, offered though CAR and NAHREP, provides strategies for reaching and communicating with the Latino home buyer, as well as information on home-ownership assistance programs available in the state.

As part of the initiative, the California Housing Finance Agency is offering its down payment assistance programs to qualified borrowers and providing mortgage insurance. In addition, LULAC will reach out to potential Latino home buyers through workshops and home-ownership fairs. The workshops will provide prospective home buyers with information about the home-buying process, including to access state and local down-payment assistance programs.

In California, 43 percent of the Latino population are homeowners. Recent Freddie Mac research indicates that only half the gap between minority and white home-ownership rates is explained by income, age of household and other known demographic factors.

***

Send tips or a Letter to the Editor to samantha@inman.com or call (510) 658-9252, ext. 140.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription