Source: NBC News
Latino buyers are expected to serve as the growth engine of American homebuying and comprise 70 percent of homeownership growth from 2020-2040, serving as the growth engine of American home buying, according to the Urban Institute, suggesting that Latinos will be the only ethnic or racial group that will experience a higher home ownership rate over the next couple of decades.
Despite the trends in Latinos’ favor, there are ongoing — and new — barriers to homeownership that many Hispanics face including having lower down payments and median credit scores and higher debt-to-income ratios, which make them more vulnerable to stricter mortgage underwriting standards.