The homeownership gap for the Hispanic community in Charlotte has lagged behind the national average for years, but new data shows that could soon change.
CHARLOTTE, N.C. — The Zeledon family says there’s no place like home.
“We were just like we actually got the house.,” new homeowner Yeimy Zeledon said. “I was so excited to move in with my family and get the keys,” said Zeledon.
The Zeledon family closed on their new home this month, and they said they couldn’t be more excited to create new memories.
“You go through the whole process, and you always dream of that day,” Zeledon said.
It’s a dream that organizations like New American Funding are working to make a reality for more Latino families in Charlotte.
“We bring speakers who talk a little bit about the Hispanic market in Charlotte,” Caroline Isern, the Senior Vice President for Multicultural Lending with New American Funding, said.
“It is one of those markets that it’s a hot market for, for Latino families,” Isern said.
Latinos are the fastest-growing demographic both here in North Carolina and across the U.S.
A study from the Urban Institute in Washington, D.C shows that growth could create a bulk of new homebuyers over the next 20 years.
That’s why some groups are working to address barriers and advance sustainable homeownership for Latino families.
“If by 2040, the minority is going to be the majority we have to ensure they understand the process,” Isern said.
Isern said one of the biggest barriers to homeownership is the lack of education.
“We want to help them understand what it takes to buy a home, walk them through the mortgage process, and highlight what resources are available.”
New American Funding says they’re also working to tackle financial and cultural barriers, all in an effort to help more families like the Zeledon family achieve the American dream.
“We now have our own little place a place to call home,” Zeledon said.
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