The housing market has begun to heat up thanks to an economy on the rebound. Few people aspire to rent for life, and home ownership is a dream shared by both natives and immigrants who came to the country seeking a better life.
Each year the National Association of Realtors compiles a profile of buyers and sellers that documents trends in the real estate market. Although the majority of first-time home buyers identify as white, the next largest group are Hispanics, who account for 11 percent of the market of first-time home buyers..
The rapidly growing Hispanic population is influencing all areas of modern living, including real estate. Estimates suggest that, between now and 2020, Hispanics, the second largest ethnic group in America, will account for 50 percent of new home buyers.
Over the last three decades, two of every five newcomers to the housing market were Hispanic, according to the National Association of Hispanic Real Estate Professionals. In addition to needing assistance finding their dream homes, Hispanic buyers also may need help securing loans to finance their upcoming home purchases.
NPHS offers lending solutions for first-time home buyer to purchase a home. As well as providing a guiding hand in free Homebuyer Education & Counseling, home buyer realtor, and access to Down Payment & Closing Cost Assistance programs. NPHS works directly with the Spanish-speaking market and serves as a mediator between lenders and borrowers. The service is one of the few reputable nonprofit that can help first-time borrowers find financial solutions that meet their exact specifications and connect them with the top lending products in the industry.
This alternative lending solution is not the only option available to Hispanics. Some people find success through government assistance and grant programs geared toward the Hispanic community. The National Association of Hispanic Real Estate Professionals can be an excellent resource for further information, instructing people on how to apply for loans, secure lower interest rates and qualify for loans even if you have a poor or brief credit history.
Hispanics wield more influence in the United States than ever before, and more and more Hispanics are making that influence known in the real estate market.
For more information on NPHS Lending Products, please contact NPHS’ Home Finance Manager, Curtis Miller at 909.986.5843 or email firstname.lastname@example.org.
For more information on Homebuyer Education & Counseling, please contact our Main Office at 909.988.5979.