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S TAT E O F H I S PA N I C H O M E O W N E R S H I P R E P O R T
SECTION 5: Insights from Top Real Estate Professionals
In order to fully capture the moment of Latinos coming into the “age of homeownership,” the real estate industry must commit to investing in the Latino market. That means hiring Latinos to both top leadership positions and across the organizational structure. Today the number of Latinos in the real estate sales
market is growing. In 2020, over 150,000 real estate brokers and sales agents (14.5 percent) in the U.S. identified as Hispanic, up 36 percent from 2019.126 It will be critical for the mortgage market to follow suit in
order to support the growing demand from Latino homebuyers.
The following mortgage companies have reached the most Hispanic consumers, both in terms of highest production and rate of loans extended to Latino consumers in relation to their overall portfolio.
PRODUCTS MATTER
On average, Latinos tend to have lower down payments and are concentrated in higher cost markets than the general population. Latino families are also more likely to live in multigenerational households and manage their finances differently than the general population. Having loan products that meet the particular needs of Latino households is critical. Most companies surveyed have products designed to meet these needs, making it easier for real estate agents who work with Latino borrowers to work with these lenders. Some of these products offer more flexibility with income limits and less restrictive down payments, and they utilize down payment assistance and grant
