Inclusive Lending

El Hogar: Why Homeownership is So Important in the Hispanic Community

Despite affordability and other challenges, homeownership remains a top goal for many Hispanic Americans.

“Homeownership is important because parents want to make sure their kids have a place to call home,” said Nacho Yogues, a sales manager at New American Funding based in Greenwood Village, Colo. Many of his clients are members of the Hispanic community.

“When the kids grow up and leave, they always have that home to come back to,” he said.

Hispanic homeownership in the U.S. hit a record in 2024, according to the National Association of Hispanic Real Estate Professionals (NAHREP) 2024 State of Hispanic Homeownership Report. The report analyzed government data as well as interviews with top-producing buyer real estate agents and mortgage originators.

“We’ve seen a huge influx of Hispanic homebuyers coming out of the woodwork and really seeing the value of owning a home versus renting a home,” Eric Estrada, a real estate agent in Colorado Springs, Colo., said in the NAHREP report. “They’re getting serious about it.”

However, the Hispanic homeownership rate did decline slightly after hitting that record level, from 49.9% in the first quarter of 2024 to 48.8% in the second quarter of 2025, according to the most recent U.S. Census Bureau data.

The dip wasn’t due to fewer Hispanic homeowners, but rather an increase in new Hispanic households formed, according to NAHREP. New buyers couldn’t catch up fast enough.

High home prices and elevated mortgage rates have also made it harder for many to afford homeownership.

Many of Yogues’ clients make it work financially by having multiple generations go in together to qualify for a mortgage. He recently worked with a couple and their 21-year-old daughter, who are all on their loan together.

“Higher interest rates, higher payments, higher insurance [costs], higher property taxes, they need every penny to qualify for loans,” he said.

Some will buy homes on plenty of land where older parents, grown children, and other relatives can eventually settle.

“Family is very important in the Hispanic community,” said Yogues. “There are multiple generations living in the same home.”

Non-qualified mortgages, which are designed for entrepreneurs, small business owners, contractors, and other workers who don’t receive a W-2 form, are popular with his clients.

“It allows them to qualify for mortgages,” said Yogues. “The goal is to have that property in [their] family for generations.”

Nacho Yogues NMLS # 756016