Transforming Latinos’ Economic Trajectory Through Homeownership
We know that building family wealth is critical to quality of life in our society and homeownership is a central way for families to achieve financial security. Thus, homeownership for Latinos has been a priority for UnidosUS since the 1980s. By 2030, Hispanics are expected to comprise 22% of the national population and will drive the net growth in new households. With 40% of the net new households coming from the Latino community, our work is more important than ever to ensure that a path to homeownership is equitable, accessible, and affordable. Thanks to support from donors like you, we have a vision and a plan to make that happen.
UnidosUS leads the largest network of community-based, nonprofit organizations dedicated to creating new Latino homeowners. And, equally important, we advocate for policies that allow more Latinos the access and affordability to buy a home. Since 1997, UnidosUS and its Affiliate Network of HUD-certified housing counselors have helped more than 70,000 Latinos become homeowners. Nearly 50 groups strong, the UnidosUS Wealth and Housing Alliance, serves thousands of families annually with housing counseling needs, such as assistance with the homebuying process, help with their current mortgage, and financial, budgeting, and money management advice.
Housing counselors are a vital resource. Beyond helping new homeowners, our counselors are helping Latinos remain in their homes, and their counseling has demonstrated to reduce evictions, mortgage delinquencies, and foreclosure rates, and to increase access to, and the success of, loan modifications. In 2021, we offered housing counseling and financial coaching to more than 60,000 people.
Now, thanks to your investment in UnidosUS, we’ve set an ambitious, but, we believe, achievable goal to boost the Latino homeownership rate from 48% to 60% by 2030. Our commitment is to help four million Latinos become new homeowners and create systemic change along the way. For example, we are advocating for proposed Biden administration legislation to be passed by Congress that could eliminate barriers to Latino homeownership, like the proposed $10 billion to offer down payment assistance to first generation homebuyers.
Your invaluable support makes it possible for UnidosUS to undertake this bold commitment to transform the economic trajectory for Latinos by building wealth through homeownership, scaling proven UnidosUS programs, and narrowing the homeownership gap. You are part of making the American Dream of owning a home a reality for millions of families. Thank you!
To learn more about the impact of your support, go to unidosus.org.